37coins: Hubba Bitcoin Intro, Jonathan Zobro
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The document outlines Bitcoin as a decentralized, open-source, and pseudonymous electronic currency that allows low-fee transactions without a central authority. It discusses the benefits of Bitcoin, such as privacy, fast international payments, and financial innovation, while also addressing user adoption challenges. The document also highlights a solution for using Bitcoin via SMS to broaden accessibility and promote mass adoption in various international markets.
37coins: Hubba Bitcoin Intro, Jonathan Zobro
- 2. What is Bitcoin? Why Bitcoin? Chicken and Egg The Problem User Adoption Liquidity 37coins
- 3. WHAT IS BITCOIN? Decentralized Opensource Pseudonymous Electronic Currency…
- 4. Decentralized Opensource Pseudonymous Electronic Currency NO ONE can block your payment No middleman - low fees central authority Controlled by one authority Controlled by community
- 5. Decentralized Opensource Pseudonymous Electronic Currency Transparent system of transaction Understandable inflation Zimbabwe's peak month of inflation is estimated at 79.6 billion percent … http://www.munknee.com/21-countries-have-experienced-hyperinflation-in-last-25-years-is-the-u-s-next/
- 6. Decentralized Opensource Pseudonymous Electronic Currency Private, Safe or a mobile number
- 7. Decentralized Opensource Pseudonymous Electronic Currency Fast Not limited to physical places
- 8. Decentralized Opensource Pseudonymous Electronic Currency Unit of account Exchange for fiat Exchange for goods/services http://www.coindesk.com/information/what-can-you-buy-with-bitcoins/
- 9. WHY BITCOIN? Decentralized Opensource Pseudonymous Electronic Currency… Financial Ideological Innovative
- 10. Why Bitcoin? •No chargebacks •Lower transaction fees •New customers (international) •New customers (w/o credit cards) •Privacy •Governmentally agnostic •Predictable growth •Programmable money •Be your own bank •Easy international payments (even small amounts) Financial To help their bottom-line Ideological To express their values and help to promote their ideal vision of the world. Innovative To do things they can’t with normal money.
- 11. CHICKEN AND EGG 1. Accessible 2. Easy to use 3. Useful
- 12. TYPICAL FIRST TIME USER EXPERIENCE Friend* Newbie* 1 Explain benefits of Bitcoin 2 Agree 3 Download a bitcoin wallet 4 Generate a bitcoin address 5 Send bitcoin address to friend 6 Receive the bitcoin address 7 Send bitcoins 8 Receive bitcoins. *Friend and Newbie both need smartphones and internet
- 13. 37COINS USER EXPERIENCE Friend* Newbie* 1 Explain benefits of Bitcoin** 2 Agree** 3 Send bitcoins to mobile number 4 Receive bitcoins. *Friend and Newbie do NOT need smartphones or internet ** Optional. Just send it.
- 14. MASS-MARKET User Archetype Prerequisite Knowledge Bitcoin Curious Bitcoin Early Adopter Patrick Byrne Roger Ver Hal Finney SMS Messaging Bitcoin Addresses Hosted Wallets BitcoinQT Bitcoin Protocol
- 15. SIMPLE SMS received SMS sent Notifying server 1 Send payment 2 3 Receive notification Confirm transaction w/ 37coins Received 734BIT (20PHP) from
- 16. 25 Countries! 32 Gateways International! Incentivized SMS NETWORK
- 17. SOLUTION: BITCOIN VIA SMS Safe, Fast, Easy! International Potential savings $43.4b From 9212276935 Received 1,430BIT (40PHP) 96% Worldwide Cellphone Penetration International Telecommunication Union | Goldman Sachs http://www.itu.int/en/ITU-D/Statistics/Documents/facts/ ICTFactsFigures2014-e.pdf
- 18. LIQUIDITY Receive cash via bank, ATM, pre-paid card 1 SELL bitcoins 2 SMS received SMS sent Notifying server Sell 100PHP Bank / mBank Deposit ATM Pre-paid Debit (740) 214-1453
- 19. DEVELOPMENT PLAN India Indonesia Philippines Singapore Thailand January 2014 Worldwide Open Beta 2015 South East Asia South America 2016 Eastern Europe Middle East Africa
- 20. WHAT’S NEXT Developers Designers Partnerships Thank You! founders@37coins.com 37coins www.37coins.com (740) 214-1453
- 21. MULTI-SIG Gateway Partners 37coins Risk Management Lawyer (backup key) or 3 Oracle Service 1 2