SlideShare a Scribd company logo
1 of 36
Download to read offline
@SDWOUTERS
The future of
bitcoin
@SDWOUTERS
Bitcoin was invented in 2008 as a way to
transfer value without “trusted” third parties
bitcoin.org/bitcoin.pdf
@SDWOUTERS
Media that predicted “The Death of Bitcoin”
Deaths by publication:
DailyPaulCNNCity A.M.ChronBroken Librarian BTC Feed Business Insider
BloombergAbout.com Acton BizNews.comArduino TronicapenwarrAOL
Financial TimesFester’s DenDavid Seaman FortuneForbesFool.com Fusion
Gizmodo Australia IEX International Business Times Javamazon Moneygeek
MyBroadBandMother Jones News.com.au NewStatesman NY Mag OUI Share
The New York TimesThe KernelThe Calculating InvestorStreet Insider
Sputnik NewsPYMNTS.com Reuters Robert Nielsen Salon Seeking Alpha
The Underground EconomistThe Telegraph The Washington Post The Weekly Standard
USA Today Valley News VICE News Wired YahooWall Street Daily
bitcoinobituaries.com
@SDWOUTERS
Bitcoin has been running non-stop for 7+ years
160M 434K $150M $105B
Transactions Blocks in the
blockchain
in transactions
per day currently
Transferred over
the blockchain
466M 16M 10B 100K
bitcoins
transferred over
the blockchain
Amount of
Bitcoins that
currently exist
Value of all
bitcoins
companies that
(indirectly)
accept bitcoins
"Don't forget that the millions of people all over the world
who are now part of the Bitcoin network were once very
strong skeptics. This includes people with decades of
experience in network security and cryptography."
~Andreas Antonopoulos
If Bitcoin is so great, 

why isn’t everyone using it?
@SDWOUTERS
@SDWOUTERS
‣ Bitcoin is only 7 years old, it
still needs a lot of development.

‣ We have never tried THIS before
and it is about MONEY, not info.

‣ It’s like the Internet in the 90s: 

‣ People don't get it.
‣ It looks ugly.
‣ We have few use cases.
‣ People don’t see how it will
change the world.
‣ Those who are disrupted by it
will do everything to stop it.
‣ Mainstream 10 years later
‣ Mass adoption 20 years later
@SDWOUTERS
Today there are Millions, but not
Billions of people using Bitcoin
@SDWOUTERS
One of the main hurdles for mass adoption:
Scalability of the network
*As a trade-off to be decentralized
3-7 transactions
per second*
185+ transactions
per second
Up to 24k transactions
per second
So far this hasn't been a problem,
but the blocks of transactions that
get added to the Blockchain every
10 minutes are getting full
@SDWOUTERS
So far this hasn't been a problem,
but the blocks of transactions that
get added to the Blockchain every
10 minutes are getting full
There is less space to add new users that
can use Bitcoin for tiny transaction fees.
(Now around $0.12 per transaction)
@SDWOUTERS
IDEA: Why not make
the blocks bigger?
@SDWOUTERS
You can try to keep expanding forever, but
at some point you hit physical network limits
@SDWOUTERS
It may be better to get people to carpool, 

Build NEW layers or transport methods
You can try to keep expanding forever, but
at some point you hit physical network limits
@SDWOUTERS
10
100
1000
10000
7
185
24000
How can we still get Bitcoin to these levels to be
usable by every human or program globally?
@SDWOUTERS
To solve these and other complexities to make
Bitcoin more successful, developers from all
over the world come together every year.
Scaling bitcoin #3 took place
on 8-9 October 2016 in Milan, Italy
Scaling bitcoin #3 took place
on 8-9 October 2016 in Milan, Italy
A private event for the technical community,
though everything was livestreamed
@SDWOUTERS
For most people it’s really hard to understand
all THE technical talk that happens there.
SegWit
ECDSA
MAST
Coinjoin
Tumblebit
Mimble Wimble
HLTC
Schnorr signatures
Lightning
Covenants
Jute braiding
Flare routing
UTXO
zkSNARKs
OWAS
SPV wallets Merkle trees
Hashing
RSA
ZKCP
Onion routing
MAC
@SDWOUTERS
So I thought I’d help out by going through
the transcripts on scalingbitcoin.org
@SDWOUTERS
Based on the talks, I think
the developers are trying to
improve Bitcoin in 9 ways
@SDWOUTERS
9 WAYS to IMPROVE
bitcoin
@SDWOUTERS
Make transactions take up
less space in blocks1
SegWit
@SDWOUTERS
2 Move less important transactions off
the main blockchain in a secure way
Lightning NetworkSidechains
@SDWOUTERS
3 Speed up transactions
10
100
1000
10000
7
185
24000
Lightning Network
@SDWOUTERS
4 Increase privacy so the user
decides who sees their data
TumbleBit MimbleWimbleMAST
ZKCPOWAS
CoinJoin
Onion RoutingFlare Routing
@SDWOUTERS
5 Make the developer ecosystem grow
@SDWOUTERS
6 Enter new markets
Finance
Internet of Things?
Energy?
Supply chain?
Identity?
Intellectual
property?
Legal?
@SDWOUTERS
7 Make it easier/rewarding to run a copy of the
blockchain so the network remains decentralized
@SDWOUTERS
8 Make it easier for small miners to compete
so we have more decentralization
VS
@SDWOUTERS
9 Make it easier and safer to
store bitcoins on any device
Covenants
@SDWOUTERS
9 ways to Improve Bitcoin
1
2
3
4
5
6
7
8
9
Make transactions take up less space on the blockchain
Move less important transactions off the main blockchain
Speed up transactions
Increase privacy and put it in the hands of the user
Make it easier for the developer ecosystem to grow
Enter new markets
Make it easier to run a copy of the blockchain
Make it easier for small miners to compete
Make it easier and safer to store bitcoins
@SDWOUTERS
1
2
3
4
56
7
8 9
There are discussions about if/in which
order these should be implemented
While the road WILL BE BUMPY,
the future looks bright!
@SDWOUTERS
samwouters.com
Speaker on Bitcoin & Blockchain
Digital Transformation Consultant
at Duval Union Consulting
WWW
sam.wouters@duvalunion.com
Sam Wouters
@sdwouters
‣ We are a digital consulting company.
‣ Founded in 2009 as DearMedia.
‣ We work for large European clients.
‣ We have a strong vision on the impact
of digital and act accordingly.
‣ We are advisors, writers, coaches and
entrepreneurs.

More Related Content

What's hot

Intro to Bitcoin
Intro to BitcoinIntro to Bitcoin
Intro to BitcoinLaura Lopez
 
7 Things Banks should do with Blockchain
7 Things Banks should do with Blockchain7 Things Banks should do with Blockchain
7 Things Banks should do with BlockchainScopernia
 
BlockChain, Bitcoin and Smart Contracts - Oleg Kudrenko
BlockChain, Bitcoin and Smart Contracts - Oleg KudrenkoBlockChain, Bitcoin and Smart Contracts - Oleg Kudrenko
BlockChain, Bitcoin and Smart Contracts - Oleg KudrenkoOleg Kudrenko
 
ppt on Blockchain Technology
ppt on Blockchain Technologyppt on Blockchain Technology
ppt on Blockchain TechnologyAnsh Budania
 
Bitcoin and Blockchain Technology: Hayek Money
Bitcoin and Blockchain Technology: Hayek MoneyBitcoin and Blockchain Technology: Hayek Money
Bitcoin and Blockchain Technology: Hayek MoneyFerdinando Maria Ametrano
 
the age of cryptocurrency at Devoxx Morocco
the age of cryptocurrency at Devoxx  Moroccothe age of cryptocurrency at Devoxx  Morocco
the age of cryptocurrency at Devoxx MoroccoBellaj Badr
 
Cryptocurrencies: The Mechanics Economic and Finance
Cryptocurrencies: The Mechanics Economic and FinanceCryptocurrencies: The Mechanics Economic and Finance
Cryptocurrencies: The Mechanics Economic and FinanceErnie Teo
 
Introduction to Bitcoin & Blockchain - Societing Summer School 2015
Introduction to Bitcoin & Blockchain - Societing Summer School 2015Introduction to Bitcoin & Blockchain - Societing Summer School 2015
Introduction to Bitcoin & Blockchain - Societing Summer School 2015Raffaele Mauro
 
Bit coin fiat_barcampbangalore BCB11 Feb 2011
Bit coin fiat_barcampbangalore  BCB11 Feb 2011Bit coin fiat_barcampbangalore  BCB11 Feb 2011
Bit coin fiat_barcampbangalore BCB11 Feb 2011Akhil Kodali
 
Regulating digital currencies
Regulating digital currencies Regulating digital currencies
Regulating digital currencies Yuri Livshitz
 
Blockchain: building trust
Blockchain: building trustBlockchain: building trust
Blockchain: building trustGood Rebels
 
The Blockchain: Introduction and Implications
The Blockchain: Introduction and ImplicationsThe Blockchain: Introduction and Implications
The Blockchain: Introduction and ImplicationsMichael Lesniak
 
MONEY ,BITCOIN,BLOCKCHAIN TECHNOLOGY
MONEY ,BITCOIN,BLOCKCHAIN TECHNOLOGYMONEY ,BITCOIN,BLOCKCHAIN TECHNOLOGY
MONEY ,BITCOIN,BLOCKCHAIN TECHNOLOGYHasHim Salim
 
Economics of Decentalized Currency Systems
Economics of Decentalized Currency SystemsEconomics of Decentalized Currency Systems
Economics of Decentalized Currency SystemsErnie Teo
 
9 BUILDING BLOCKS FOR A SUCCESSFUL BLOCKCHAIN INDUSTRY | BLOCKSTARS.IO
9 BUILDING BLOCKS FOR A SUCCESSFUL BLOCKCHAIN INDUSTRY | BLOCKSTARS.IO9 BUILDING BLOCKS FOR A SUCCESSFUL BLOCKCHAIN INDUSTRY | BLOCKSTARS.IO
9 BUILDING BLOCKS FOR A SUCCESSFUL BLOCKCHAIN INDUSTRY | BLOCKSTARS.IOBlockStars.io
 
An Introduction to Blockchain
An Introduction to BlockchainAn Introduction to Blockchain
An Introduction to BlockchainThomvest Ventures
 

What's hot (20)

Intro to Bitcoin
Intro to BitcoinIntro to Bitcoin
Intro to Bitcoin
 
7 Things Banks should do with Blockchain
7 Things Banks should do with Blockchain7 Things Banks should do with Blockchain
7 Things Banks should do with Blockchain
 
BlockChain, Bitcoin and Smart Contracts - Oleg Kudrenko
BlockChain, Bitcoin and Smart Contracts - Oleg KudrenkoBlockChain, Bitcoin and Smart Contracts - Oleg Kudrenko
BlockChain, Bitcoin and Smart Contracts - Oleg Kudrenko
 
ppt on Blockchain Technology
ppt on Blockchain Technologyppt on Blockchain Technology
ppt on Blockchain Technology
 
Bitcoin and Blockchain Technology: Hayek Money
Bitcoin and Blockchain Technology: Hayek MoneyBitcoin and Blockchain Technology: Hayek Money
Bitcoin and Blockchain Technology: Hayek Money
 
Bitcoin
BitcoinBitcoin
Bitcoin
 
the age of cryptocurrency at Devoxx Morocco
the age of cryptocurrency at Devoxx  Moroccothe age of cryptocurrency at Devoxx  Morocco
the age of cryptocurrency at Devoxx Morocco
 
Cryptocurrencies: The Mechanics Economic and Finance
Cryptocurrencies: The Mechanics Economic and FinanceCryptocurrencies: The Mechanics Economic and Finance
Cryptocurrencies: The Mechanics Economic and Finance
 
Introduction to Bitcoin & Blockchain - Societing Summer School 2015
Introduction to Bitcoin & Blockchain - Societing Summer School 2015Introduction to Bitcoin & Blockchain - Societing Summer School 2015
Introduction to Bitcoin & Blockchain - Societing Summer School 2015
 
Bit coin fiat_barcampbangalore BCB11 Feb 2011
Bit coin fiat_barcampbangalore  BCB11 Feb 2011Bit coin fiat_barcampbangalore  BCB11 Feb 2011
Bit coin fiat_barcampbangalore BCB11 Feb 2011
 
Regulating digital currencies
Regulating digital currencies Regulating digital currencies
Regulating digital currencies
 
Introduction to Blockchain
Introduction to BlockchainIntroduction to Blockchain
Introduction to Blockchain
 
Blockchain: building trust
Blockchain: building trustBlockchain: building trust
Blockchain: building trust
 
The Blockchain: Introduction and Implications
The Blockchain: Introduction and ImplicationsThe Blockchain: Introduction and Implications
The Blockchain: Introduction and Implications
 
MONEY ,BITCOIN,BLOCKCHAIN TECHNOLOGY
MONEY ,BITCOIN,BLOCKCHAIN TECHNOLOGYMONEY ,BITCOIN,BLOCKCHAIN TECHNOLOGY
MONEY ,BITCOIN,BLOCKCHAIN TECHNOLOGY
 
The blockchain disruption
The blockchain disruptionThe blockchain disruption
The blockchain disruption
 
Bitcoin - digital gold
Bitcoin - digital goldBitcoin - digital gold
Bitcoin - digital gold
 
Economics of Decentalized Currency Systems
Economics of Decentalized Currency SystemsEconomics of Decentalized Currency Systems
Economics of Decentalized Currency Systems
 
9 BUILDING BLOCKS FOR A SUCCESSFUL BLOCKCHAIN INDUSTRY | BLOCKSTARS.IO
9 BUILDING BLOCKS FOR A SUCCESSFUL BLOCKCHAIN INDUSTRY | BLOCKSTARS.IO9 BUILDING BLOCKS FOR A SUCCESSFUL BLOCKCHAIN INDUSTRY | BLOCKSTARS.IO
9 BUILDING BLOCKS FOR A SUCCESSFUL BLOCKCHAIN INDUSTRY | BLOCKSTARS.IO
 
An Introduction to Blockchain
An Introduction to BlockchainAn Introduction to Blockchain
An Introduction to Blockchain
 

Viewers also liked

Digital Business. Countries – leaders, issues, initiatives. Companies – shift...
Digital Business. Countries – leaders, issues, initiatives. Companies – shift...Digital Business. Countries – leaders, issues, initiatives. Companies – shift...
Digital Business. Countries – leaders, issues, initiatives. Companies – shift...Natalia Berdyeva
 
Milk Business strategy
Milk Business strategyMilk Business strategy
Milk Business strategyPiyush Jha
 
Peter Minkjan - Likeconomics
Peter Minkjan - LikeconomicsPeter Minkjan - Likeconomics
Peter Minkjan - LikeconomicsUpstream
 
Why How What - The Blockchain
Why How What - The BlockchainWhy How What - The Blockchain
Why How What - The BlockchainSam Wouters
 
Fintech and Transformation of the Financial Services Industry
Fintech and Transformation of the Financial Services IndustryFintech and Transformation of the Financial Services Industry
Fintech and Transformation of the Financial Services IndustryRobin Teigland
 
55 Business Models to Revolutionize your Business by Michaela Csik
55 Business Models to Revolutionize your Business by Michaela Csik55 Business Models to Revolutionize your Business by Michaela Csik
55 Business Models to Revolutionize your Business by Michaela Csikjindrichweiss
 
How Digital Has Changed These 7 Banking Roles
How Digital Has Changed These 7 Banking RolesHow Digital Has Changed These 7 Banking Roles
How Digital Has Changed These 7 Banking RolesMX
 
Disruptive Technologies McKinsey
Disruptive Technologies McKinseyDisruptive Technologies McKinsey
Disruptive Technologies McKinseyOscar Valentin
 
What I Carry: 10 Tools for Success
What I Carry: 10 Tools for SuccessWhat I Carry: 10 Tools for Success
What I Carry: 10 Tools for SuccessJonathon Colman
 
Disruption in Digital Banking
Disruption in Digital BankingDisruption in Digital Banking
Disruption in Digital BankingBackbase
 
FinTech Industry Report 2016
FinTech Industry Report 2016FinTech Industry Report 2016
FinTech Industry Report 2016Bernard Moon
 
Netflix Business Model & Strategy
Netflix Business Model & StrategyNetflix Business Model & Strategy
Netflix Business Model & StrategyEvgenii Gvozdev
 
Block chain 101 what it is, why it matters
Block chain 101  what it is, why it mattersBlock chain 101  what it is, why it matters
Block chain 101 what it is, why it mattersPaul Brody
 
The Blockchain - The Technology behind Bitcoin
The Blockchain - The Technology behind Bitcoin The Blockchain - The Technology behind Bitcoin
The Blockchain - The Technology behind Bitcoin Jérôme Kehrli
 
2016 Banking Trends
2016 Banking Trends2016 Banking Trends
2016 Banking TrendsMX
 
Bitcoin and Blockchain Technology Explained: Not just Cryptocurrencies, Econo...
Bitcoin and Blockchain Technology Explained: Not just Cryptocurrencies, Econo...Bitcoin and Blockchain Technology Explained: Not just Cryptocurrencies, Econo...
Bitcoin and Blockchain Technology Explained: Not just Cryptocurrencies, Econo...Melanie Swan
 

Viewers also liked (20)

Digital Business. Countries – leaders, issues, initiatives. Companies – shift...
Digital Business. Countries – leaders, issues, initiatives. Companies – shift...Digital Business. Countries – leaders, issues, initiatives. Companies – shift...
Digital Business. Countries – leaders, issues, initiatives. Companies – shift...
 
Milk Business strategy
Milk Business strategyMilk Business strategy
Milk Business strategy
 
Peter Minkjan - Likeconomics
Peter Minkjan - LikeconomicsPeter Minkjan - Likeconomics
Peter Minkjan - Likeconomics
 
Module - Creativity, Innovation & Entrepreneurship
Module - Creativity, Innovation & EntrepreneurshipModule - Creativity, Innovation & Entrepreneurship
Module - Creativity, Innovation & Entrepreneurship
 
Netflix: An Analysis
Netflix: An AnalysisNetflix: An Analysis
Netflix: An Analysis
 
Why How What - The Blockchain
Why How What - The BlockchainWhy How What - The Blockchain
Why How What - The Blockchain
 
Fintech and Transformation of the Financial Services Industry
Fintech and Transformation of the Financial Services IndustryFintech and Transformation of the Financial Services Industry
Fintech and Transformation of the Financial Services Industry
 
55 Business Models to Revolutionize your Business by Michaela Csik
55 Business Models to Revolutionize your Business by Michaela Csik55 Business Models to Revolutionize your Business by Michaela Csik
55 Business Models to Revolutionize your Business by Michaela Csik
 
Blockchain
BlockchainBlockchain
Blockchain
 
How Digital Has Changed These 7 Banking Roles
How Digital Has Changed These 7 Banking RolesHow Digital Has Changed These 7 Banking Roles
How Digital Has Changed These 7 Banking Roles
 
Disruptive Technologies McKinsey
Disruptive Technologies McKinseyDisruptive Technologies McKinsey
Disruptive Technologies McKinsey
 
Netflix case study
Netflix case studyNetflix case study
Netflix case study
 
What I Carry: 10 Tools for Success
What I Carry: 10 Tools for SuccessWhat I Carry: 10 Tools for Success
What I Carry: 10 Tools for Success
 
Disruption in Digital Banking
Disruption in Digital BankingDisruption in Digital Banking
Disruption in Digital Banking
 
FinTech Industry Report 2016
FinTech Industry Report 2016FinTech Industry Report 2016
FinTech Industry Report 2016
 
Netflix Business Model & Strategy
Netflix Business Model & StrategyNetflix Business Model & Strategy
Netflix Business Model & Strategy
 
Block chain 101 what it is, why it matters
Block chain 101  what it is, why it mattersBlock chain 101  what it is, why it matters
Block chain 101 what it is, why it matters
 
The Blockchain - The Technology behind Bitcoin
The Blockchain - The Technology behind Bitcoin The Blockchain - The Technology behind Bitcoin
The Blockchain - The Technology behind Bitcoin
 
2016 Banking Trends
2016 Banking Trends2016 Banking Trends
2016 Banking Trends
 
Bitcoin and Blockchain Technology Explained: Not just Cryptocurrencies, Econo...
Bitcoin and Blockchain Technology Explained: Not just Cryptocurrencies, Econo...Bitcoin and Blockchain Technology Explained: Not just Cryptocurrencies, Econo...
Bitcoin and Blockchain Technology Explained: Not just Cryptocurrencies, Econo...
 

Similar to The future of Bitcoin & 9 ways to improve it

CoinX Trading Business Concept English
CoinX Trading Business Concept EnglishCoinX Trading Business Concept English
CoinX Trading Business Concept EnglishRomeo Abuhan
 
CoinX Trading Business Concept English
CoinX Trading Business Concept EnglishCoinX Trading Business Concept English
CoinX Trading Business Concept EnglishRomeo Abuhan
 
CoinX Trading Business Presentation
CoinX Trading Business PresentationCoinX Trading Business Presentation
CoinX Trading Business PresentationRomeo Abuhan
 
Coinx Trading Presentation in English - USA
Coinx Trading Presentation in English - USA Coinx Trading Presentation in English - USA
Coinx Trading Presentation in English - USA COINX TRADING LTD
 
CoinX Trading Business Concept USA
CoinX Trading Business Concept USACoinX Trading Business Concept USA
CoinX Trading Business Concept USARomeo Abuhan
 
Open & Private Blockchains at CSCMP Benelux Supply Chain Event
Open & Private Blockchains at CSCMP Benelux Supply Chain EventOpen & Private Blockchains at CSCMP Benelux Supply Chain Event
Open & Private Blockchains at CSCMP Benelux Supply Chain EventScopernia
 
A complete list of top blockchain platforms 2020
A complete list of top blockchain platforms 2020A complete list of top blockchain platforms 2020
A complete list of top blockchain platforms 2020celine anderson
 
A beginner's guide on why and how to invest in bitcoin
A beginner's guide on why and how to invest in bitcoin A beginner's guide on why and how to invest in bitcoin
A beginner's guide on why and how to invest in bitcoin hellenjones2
 
A beginner's guide on why and how to invest in bitcoin
A beginner's guide on why and how to invest in bitcoin A beginner's guide on why and how to invest in bitcoin
A beginner's guide on why and how to invest in bitcoin hellenjones2
 
Future Opportunities and Economic Challenges for Cryptoledgers: Trends and sp...
Future Opportunities and Economic Challenges for Cryptoledgers: Trends and sp...Future Opportunities and Economic Challenges for Cryptoledgers: Trends and sp...
Future Opportunities and Economic Challenges for Cryptoledgers: Trends and sp...Tim Swanson
 
Crypto currencies The internet of Money
Crypto currencies The internet of MoneyCrypto currencies The internet of Money
Crypto currencies The internet of MoneyFady Dawood
 
Paradigm shift: from the bitcoin Blockchain to Networked Computing
Paradigm shift: from the bitcoin Blockchain to Networked ComputingParadigm shift: from the bitcoin Blockchain to Networked Computing
Paradigm shift: from the bitcoin Blockchain to Networked Computingkumar641
 
Transaction speed
Transaction speedTransaction speed
Transaction speedOliviaJune1
 
2019 blockchain economy
2019 blockchain economy2019 blockchain economy
2019 blockchain economyHeung-No Lee
 

Similar to The future of Bitcoin & 9 ways to improve it (20)

Coinx ppt India_English
Coinx ppt India_EnglishCoinx ppt India_English
Coinx ppt India_English
 
CoinX Trading Business Concept English
CoinX Trading Business Concept EnglishCoinX Trading Business Concept English
CoinX Trading Business Concept English
 
Coinx ppt pakistan_english
Coinx ppt pakistan_englishCoinx ppt pakistan_english
Coinx ppt pakistan_english
 
CoinX Trading Business Concept English
CoinX Trading Business Concept EnglishCoinX Trading Business Concept English
CoinX Trading Business Concept English
 
Coinx ppt england
Coinx ppt englandCoinx ppt england
Coinx ppt england
 
Coinx ppt England - UK
Coinx ppt England - UKCoinx ppt England - UK
Coinx ppt England - UK
 
CoinX Trading Business Presentation
CoinX Trading Business PresentationCoinX Trading Business Presentation
CoinX Trading Business Presentation
 
Coinx Trading Presentation in English - USA
Coinx Trading Presentation in English - USA Coinx Trading Presentation in English - USA
Coinx Trading Presentation in English - USA
 
CoinX Trading Business Concept USA
CoinX Trading Business Concept USACoinX Trading Business Concept USA
CoinX Trading Business Concept USA
 
Open & Private Blockchains at CSCMP Benelux Supply Chain Event
Open & Private Blockchains at CSCMP Benelux Supply Chain EventOpen & Private Blockchains at CSCMP Benelux Supply Chain Event
Open & Private Blockchains at CSCMP Benelux Supply Chain Event
 
A complete list of top blockchain platforms 2020
A complete list of top blockchain platforms 2020A complete list of top blockchain platforms 2020
A complete list of top blockchain platforms 2020
 
White Paper
White PaperWhite Paper
White Paper
 
A beginner's guide on why and how to invest in bitcoin
A beginner's guide on why and how to invest in bitcoin A beginner's guide on why and how to invest in bitcoin
A beginner's guide on why and how to invest in bitcoin
 
A beginner's guide on why and how to invest in bitcoin
A beginner's guide on why and how to invest in bitcoin A beginner's guide on why and how to invest in bitcoin
A beginner's guide on why and how to invest in bitcoin
 
Pi network
Pi networkPi network
Pi network
 
Future Opportunities and Economic Challenges for Cryptoledgers: Trends and sp...
Future Opportunities and Economic Challenges for Cryptoledgers: Trends and sp...Future Opportunities and Economic Challenges for Cryptoledgers: Trends and sp...
Future Opportunities and Economic Challenges for Cryptoledgers: Trends and sp...
 
Crypto currencies The internet of Money
Crypto currencies The internet of MoneyCrypto currencies The internet of Money
Crypto currencies The internet of Money
 
Paradigm shift: from the bitcoin Blockchain to Networked Computing
Paradigm shift: from the bitcoin Blockchain to Networked ComputingParadigm shift: from the bitcoin Blockchain to Networked Computing
Paradigm shift: from the bitcoin Blockchain to Networked Computing
 
Transaction speed
Transaction speedTransaction speed
Transaction speed
 
2019 blockchain economy
2019 blockchain economy2019 blockchain economy
2019 blockchain economy
 

Recently uploaded

Monthly Market Risk Update: March 2024 [SlideShare]
Monthly Market Risk Update: March 2024 [SlideShare]Monthly Market Risk Update: March 2024 [SlideShare]
Monthly Market Risk Update: March 2024 [SlideShare]Commonwealth
 
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.KumarJayaraman3
 
Introduction to Entrepreneurship and Characteristics of an Entrepreneur
Introduction to Entrepreneurship and Characteristics of an EntrepreneurIntroduction to Entrepreneurship and Characteristics of an Entrepreneur
Introduction to Entrepreneurship and Characteristics of an Entrepreneurabcisahunter
 
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdfLundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdfAdnet Communications
 
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptx
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptxSlideshare - ONS Economic Forum Slidepack - 18 March 2024.pptx
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptxOffice for National Statistics
 
Solution manual for Intermediate Accounting, 11th Edition by David Spiceland...
Solution manual for  Intermediate Accounting, 11th Edition by David Spiceland...Solution manual for  Intermediate Accounting, 11th Edition by David Spiceland...
Solution manual for Intermediate Accounting, 11th Edition by David Spiceland...mwangimwangi222
 
MARKET FAILURE SITUATION IN THE ECONOMY.
MARKET FAILURE SITUATION IN THE ECONOMY.MARKET FAILURE SITUATION IN THE ECONOMY.
MARKET FAILURE SITUATION IN THE ECONOMY.Arifa Saeed
 
Mphasis - Schwab Newsletter PDF - Sample 8707
Mphasis - Schwab Newsletter PDF - Sample 8707Mphasis - Schwab Newsletter PDF - Sample 8707
Mphasis - Schwab Newsletter PDF - Sample 8707harshan90
 
2024.03 Strategic Resources Presentation
2024.03 Strategic Resources Presentation2024.03 Strategic Resources Presentation
2024.03 Strategic Resources PresentationAdnet Communications
 
20240314 Calibre March 2024 Investor Presentation (FINAL).pdf
20240314 Calibre March 2024 Investor Presentation (FINAL).pdf20240314 Calibre March 2024 Investor Presentation (FINAL).pdf
20240314 Calibre March 2024 Investor Presentation (FINAL).pdfAdnet Communications
 
Work and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB fundingWork and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB fundingHenry Tapper
 
The Power Laws of Bitcoin: How can an S-curve be a power law?
The Power Laws of Bitcoin: How can an S-curve be a power law?The Power Laws of Bitcoin: How can an S-curve be a power law?
The Power Laws of Bitcoin: How can an S-curve be a power law?Stephen Perrenod
 
Stock Market Brief Deck for March 19 2024.pdf
Stock Market Brief Deck for March 19 2024.pdfStock Market Brief Deck for March 19 2024.pdf
Stock Market Brief Deck for March 19 2024.pdfMichael Silva
 
LIC PRIVATISATION its a bane or boon.pptx
LIC PRIVATISATION its a bane or boon.pptxLIC PRIVATISATION its a bane or boon.pptx
LIC PRIVATISATION its a bane or boon.pptxsonamyadav7097
 
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGecko
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGeckoRWA Report 2024: Rise of Real-World Assets in Crypto | CoinGecko
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGeckoCoinGecko
 
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTES
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTESACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTES
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTESKumarJayaraman3
 
Taipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
Taipei, A Hidden Jewel in East Asia - PR Strategy for TourismTaipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
Taipei, A Hidden Jewel in East Asia - PR Strategy for TourismBrian Lin
 
Sarlat Advisory - Corporate Brochure - 2024
Sarlat Advisory - Corporate Brochure - 2024Sarlat Advisory - Corporate Brochure - 2024
Sarlat Advisory - Corporate Brochure - 2024Guillaume Ⓥ Sarlat
 
India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023SkillCircle
 
Stock Market Brief Deck for March 26.pdf
Stock Market Brief Deck for March 26.pdfStock Market Brief Deck for March 26.pdf
Stock Market Brief Deck for March 26.pdfMichael Silva
 

Recently uploaded (20)

Monthly Market Risk Update: March 2024 [SlideShare]
Monthly Market Risk Update: March 2024 [SlideShare]Monthly Market Risk Update: March 2024 [SlideShare]
Monthly Market Risk Update: March 2024 [SlideShare]
 
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
 
Introduction to Entrepreneurship and Characteristics of an Entrepreneur
Introduction to Entrepreneurship and Characteristics of an EntrepreneurIntroduction to Entrepreneurship and Characteristics of an Entrepreneur
Introduction to Entrepreneurship and Characteristics of an Entrepreneur
 
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdfLundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
 
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptx
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptxSlideshare - ONS Economic Forum Slidepack - 18 March 2024.pptx
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptx
 
Solution manual for Intermediate Accounting, 11th Edition by David Spiceland...
Solution manual for  Intermediate Accounting, 11th Edition by David Spiceland...Solution manual for  Intermediate Accounting, 11th Edition by David Spiceland...
Solution manual for Intermediate Accounting, 11th Edition by David Spiceland...
 
MARKET FAILURE SITUATION IN THE ECONOMY.
MARKET FAILURE SITUATION IN THE ECONOMY.MARKET FAILURE SITUATION IN THE ECONOMY.
MARKET FAILURE SITUATION IN THE ECONOMY.
 
Mphasis - Schwab Newsletter PDF - Sample 8707
Mphasis - Schwab Newsletter PDF - Sample 8707Mphasis - Schwab Newsletter PDF - Sample 8707
Mphasis - Schwab Newsletter PDF - Sample 8707
 
2024.03 Strategic Resources Presentation
2024.03 Strategic Resources Presentation2024.03 Strategic Resources Presentation
2024.03 Strategic Resources Presentation
 
20240314 Calibre March 2024 Investor Presentation (FINAL).pdf
20240314 Calibre March 2024 Investor Presentation (FINAL).pdf20240314 Calibre March 2024 Investor Presentation (FINAL).pdf
20240314 Calibre March 2024 Investor Presentation (FINAL).pdf
 
Work and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB fundingWork and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB funding
 
The Power Laws of Bitcoin: How can an S-curve be a power law?
The Power Laws of Bitcoin: How can an S-curve be a power law?The Power Laws of Bitcoin: How can an S-curve be a power law?
The Power Laws of Bitcoin: How can an S-curve be a power law?
 
Stock Market Brief Deck for March 19 2024.pdf
Stock Market Brief Deck for March 19 2024.pdfStock Market Brief Deck for March 19 2024.pdf
Stock Market Brief Deck for March 19 2024.pdf
 
LIC PRIVATISATION its a bane or boon.pptx
LIC PRIVATISATION its a bane or boon.pptxLIC PRIVATISATION its a bane or boon.pptx
LIC PRIVATISATION its a bane or boon.pptx
 
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGecko
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGeckoRWA Report 2024: Rise of Real-World Assets in Crypto | CoinGecko
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGecko
 
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTES
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTESACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTES
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTES
 
Taipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
Taipei, A Hidden Jewel in East Asia - PR Strategy for TourismTaipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
Taipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
 
Sarlat Advisory - Corporate Brochure - 2024
Sarlat Advisory - Corporate Brochure - 2024Sarlat Advisory - Corporate Brochure - 2024
Sarlat Advisory - Corporate Brochure - 2024
 
India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023
 
Stock Market Brief Deck for March 26.pdf
Stock Market Brief Deck for March 26.pdfStock Market Brief Deck for March 26.pdf
Stock Market Brief Deck for March 26.pdf
 

The future of Bitcoin & 9 ways to improve it

  • 2. @SDWOUTERS Bitcoin was invented in 2008 as a way to transfer value without “trusted” third parties bitcoin.org/bitcoin.pdf
  • 3. @SDWOUTERS Media that predicted “The Death of Bitcoin” Deaths by publication: DailyPaulCNNCity A.M.ChronBroken Librarian BTC Feed Business Insider BloombergAbout.com Acton BizNews.comArduino TronicapenwarrAOL Financial TimesFester’s DenDavid Seaman FortuneForbesFool.com Fusion Gizmodo Australia IEX International Business Times Javamazon Moneygeek MyBroadBandMother Jones News.com.au NewStatesman NY Mag OUI Share The New York TimesThe KernelThe Calculating InvestorStreet Insider Sputnik NewsPYMNTS.com Reuters Robert Nielsen Salon Seeking Alpha The Underground EconomistThe Telegraph The Washington Post The Weekly Standard USA Today Valley News VICE News Wired YahooWall Street Daily bitcoinobituaries.com
  • 4. @SDWOUTERS Bitcoin has been running non-stop for 7+ years 160M 434K $150M $105B Transactions Blocks in the blockchain in transactions per day currently Transferred over the blockchain 466M 16M 10B 100K bitcoins transferred over the blockchain Amount of Bitcoins that currently exist Value of all bitcoins companies that (indirectly) accept bitcoins
  • 5. "Don't forget that the millions of people all over the world who are now part of the Bitcoin network were once very strong skeptics. This includes people with decades of experience in network security and cryptography." ~Andreas Antonopoulos
  • 6. If Bitcoin is so great, 
 why isn’t everyone using it? @SDWOUTERS
  • 7. @SDWOUTERS ‣ Bitcoin is only 7 years old, it still needs a lot of development.
 ‣ We have never tried THIS before and it is about MONEY, not info.
 ‣ It’s like the Internet in the 90s: 
 ‣ People don't get it. ‣ It looks ugly. ‣ We have few use cases. ‣ People don’t see how it will change the world. ‣ Those who are disrupted by it will do everything to stop it. ‣ Mainstream 10 years later ‣ Mass adoption 20 years later
  • 8. @SDWOUTERS Today there are Millions, but not Billions of people using Bitcoin
  • 9. @SDWOUTERS One of the main hurdles for mass adoption: Scalability of the network *As a trade-off to be decentralized 3-7 transactions per second* 185+ transactions per second Up to 24k transactions per second
  • 10. So far this hasn't been a problem, but the blocks of transactions that get added to the Blockchain every 10 minutes are getting full @SDWOUTERS
  • 11. So far this hasn't been a problem, but the blocks of transactions that get added to the Blockchain every 10 minutes are getting full There is less space to add new users that can use Bitcoin for tiny transaction fees. (Now around $0.12 per transaction) @SDWOUTERS
  • 12. IDEA: Why not make the blocks bigger? @SDWOUTERS
  • 13. You can try to keep expanding forever, but at some point you hit physical network limits @SDWOUTERS
  • 14. It may be better to get people to carpool, 
 Build NEW layers or transport methods You can try to keep expanding forever, but at some point you hit physical network limits @SDWOUTERS
  • 15. 10 100 1000 10000 7 185 24000 How can we still get Bitcoin to these levels to be usable by every human or program globally? @SDWOUTERS
  • 16. To solve these and other complexities to make Bitcoin more successful, developers from all over the world come together every year.
  • 17. Scaling bitcoin #3 took place on 8-9 October 2016 in Milan, Italy
  • 18. Scaling bitcoin #3 took place on 8-9 October 2016 in Milan, Italy A private event for the technical community, though everything was livestreamed
  • 19. @SDWOUTERS For most people it’s really hard to understand all THE technical talk that happens there. SegWit ECDSA MAST Coinjoin Tumblebit Mimble Wimble HLTC Schnorr signatures Lightning Covenants Jute braiding Flare routing UTXO zkSNARKs OWAS SPV wallets Merkle trees Hashing RSA ZKCP Onion routing MAC
  • 20. @SDWOUTERS So I thought I’d help out by going through the transcripts on scalingbitcoin.org
  • 21. @SDWOUTERS Based on the talks, I think the developers are trying to improve Bitcoin in 9 ways
  • 22. @SDWOUTERS 9 WAYS to IMPROVE bitcoin
  • 23. @SDWOUTERS Make transactions take up less space in blocks1 SegWit
  • 24. @SDWOUTERS 2 Move less important transactions off the main blockchain in a secure way Lightning NetworkSidechains
  • 25. @SDWOUTERS 3 Speed up transactions 10 100 1000 10000 7 185 24000 Lightning Network
  • 26. @SDWOUTERS 4 Increase privacy so the user decides who sees their data TumbleBit MimbleWimbleMAST ZKCPOWAS CoinJoin Onion RoutingFlare Routing
  • 27. @SDWOUTERS 5 Make the developer ecosystem grow
  • 28. @SDWOUTERS 6 Enter new markets Finance Internet of Things? Energy? Supply chain? Identity? Intellectual property? Legal?
  • 29. @SDWOUTERS 7 Make it easier/rewarding to run a copy of the blockchain so the network remains decentralized
  • 30. @SDWOUTERS 8 Make it easier for small miners to compete so we have more decentralization VS
  • 31. @SDWOUTERS 9 Make it easier and safer to store bitcoins on any device Covenants
  • 32. @SDWOUTERS 9 ways to Improve Bitcoin 1 2 3 4 5 6 7 8 9 Make transactions take up less space on the blockchain Move less important transactions off the main blockchain Speed up transactions Increase privacy and put it in the hands of the user Make it easier for the developer ecosystem to grow Enter new markets Make it easier to run a copy of the blockchain Make it easier for small miners to compete Make it easier and safer to store bitcoins
  • 33. @SDWOUTERS 1 2 3 4 56 7 8 9 There are discussions about if/in which order these should be implemented
  • 34. While the road WILL BE BUMPY, the future looks bright! @SDWOUTERS
  • 35. samwouters.com Speaker on Bitcoin & Blockchain Digital Transformation Consultant at Duval Union Consulting WWW sam.wouters@duvalunion.com Sam Wouters @sdwouters
  • 36. ‣ We are a digital consulting company. ‣ Founded in 2009 as DearMedia. ‣ We work for large European clients. ‣ We have a strong vision on the impact of digital and act accordingly. ‣ We are advisors, writers, coaches and entrepreneurs.