[Music]
[Applause]
[Music]
[Applause]
[Music]
[Applause]
[Music]
[Applause]
[Applause]
good afternoon today I’m going to talk
about cryptocurrencies and their roles
in changing the way we use money and my
name is Kemal and my name is Kemal and
I’m a certified Bitcoin professional and
currently working on my thesis and which
is blockchain used for financial
transactions in the UAE and at the same
time I’m co-founder of bling 71 one year
ago when I start working on blockchain
and cryptocurrencies I start our first I
start began blockchain in general and
then quickly I realized that how
blockchain is a huge and the
cryptocurrencies only small small part
and then I read articles books and
attended many blockchain events I spent
some time to understand is hard work but
many people are still struggle to
understand and isn’t it sniffing cept
for them many my wife included still may
look like this I hope today in my
presentation we can take quick and
simple look at the what cryptocurrencies
are how they work and the impact may
have before start talking about
cryptocurrencies let’s talk about what
money is actually before the trading it
starts the exchanging goods and services
it is bartering system and there was no
constantly fisherman who has fish but
who was not able to catch fish whenever
he wants and at the same time whenever
he wants to exchange fish with someone
they didn’t want fish
and he was not able to store that fish –
the next step is if coins and paper
money is created after that our
fisherman was able to trade his fish for
some points that he can use that money
to pay his expenses and banks become
more important after coins and paper
money created and then and the money at
the same time money became more abstract
Apple pay online shopping and credit
cards are some of them and the logical
next step is virtual money where
cryptocurrency comes in money has three
main functions medium of exchange which
help us to exchange goods and services
and store value help us the stove value
in all time and at the same time it has
unit of account which help us to compare
ticks such as 10 fish to apples to
apples for to fish getting back the
present globalisation has meant a shift
in how and where people live and spend
their money while face-to-face
transactions feel happening and there
are many ways to move money around which
was not impossible in earlier times
today but also they have some problems
how did transfer money
take a look a typical transfer first you
have to know how much money we’re going
to sent there is minimum maximum and
which currency are we sending in and
what about cost one of my closest friend
and she was trying to send money from
Germany to her hometown only 500 euros
and
I told him that you have to pay 50 euros
you see she’s not happy at all
once you decide to send money you have
to consider other things time efficiency
and security how long will it take and
how really efficient is that if what if
money lost along the way I just have
experience to share with you guys and I
was trying to send money from one bank
to another and in same country because
of a simple problem it went to some
black hole and it took two weeks to get
that money and compare that experience
to this in April 2000 1899 million word
litecoin was sent it took only 2 and a
half minutes to clear and 40 cent fees
how does that work cryptocurrency
is a digital and virtual money created
from code and it still has three main
functions medium of exchange store value
unit of unit of account and the same
time it is secure because cryptography
signs which is in corruption that they
use and each unit of it thanks to this
we are able to trace each unit of money
and this help us traceable Network when
I lost my money when I go to bank he was
sending to other bank in and then and
then he was sending the other bank
because they didn’t know that what
actually what happened the money and
this actually helped us to to work
together more efficient way and it
raised money in efficient way why is
that awesome
it is transparent that at least you can
see who sent what and when kind of thing
it is more secure because it’s using the
cryptography sign and everybody has same
same ledger and whenever we try to
change something we were not able to
change because it will be notified the
other users eliminate the middleman
still I don’t understand why we are
paying to the bank who is sitting in the
middle who is not involved in the
transaction after remove this men made
of men and it is cheaper and faster
because this money is are programmable
you can develop if any you can resolve
if any problems arise on the other hand
bitcoin is the first cryptocurrency but
there are many a terraeum Ripple Bitcoin
cash stellar the other popular
cryptocurrencies when I start working on
cryptocurrencies and blockchain they
were roughly 700 which is at the end of
2016 and today it is doubled and roughly
just about 600 1600 well we talk about
good things about cryptocurrencies but
at the same time there are some
considerations to make from individual
up to government and how transparent is
really and what about the yes it is
transparent for individuals what about
larger institutions they are able to see
that and how its regulated within with
great increase in cryptocurrencies and
also and also the concern about good and
bad players the question of regulation
surely surely come up and what question
though how regulated do we want them to
be
because if they’re all regulate then do
we then loss
what makes cryptocurrencies work so well
and individuals there are many choices
they don’t know which one is real which
ones safe and also the another
consideration that if they start
investing in if they start this start
switching over to cryptocurrencies for
investment needs and how does impact to
investment companies some investment
company sees that cryptocurrencies are
risky because of huge selections in the
prices some of them have been working
with it for a long time look at the big
picture US dollar has a crucial role for
the global economy that’s the reason
governments are reserving the US dollar
but because of the centralized corruptor
currencies and is not connecting the US
dollar people are worried about the
and today before we talk about future
let’s talk about what is happening what
is what exciting things are happening
now when when I was in Singapore I see
that people are using their
cryptocurrencies for purchasing drinks
at the cashless cafe and at the same
time governments like Germany they start
detecting for Bitcoin and
cryptocurrencies use the for purchases
and on the other hand on the other hand
we we see that the technology behind
cryptocurrencies are so important is not
only for financial transactions and I
believe that this is going to go up what
are exciting things for next 10 years
for sure near tools and infrastructure
did you know that 2017 according to
World Bank report 31% 1.7 million
billion people adults have no bank
accounts so I believe cryptocurrencies
and similar technologies have potential
alternative payment mechanism and
recently we have experienced in new
forms of payments and I believe
cryptocurrency is going to be part of it
and I’m quite sure that my wife will
find the different ways to spend my
money in coming years and microfinance
projects the financed projects are
really has a real potential and this is
already happening through various
government schemes and crowdfunding’s
and I believe cryptocurrency will make
this process easier better faster and
also there is an applications for thanks
violence is a cryptocurrency exchange
company and is established July 2017
eight months ago and they have only 200
people and they made 200 million dollars
at their second quarter of its existence
on the other hand at the same quarter
and Dutch Bank has 100,000 people and
they have been working since 1870 and
they made only 160 million well today we
already before feature we already talked
about critics what challenges might be
in the future some people believe that
behind both chain behind the
cryptocurrencies blockchain which might
cause some job losses this is the nature
of wall to be find ourselves in and on
one hand it might cause some job losses
but the under behind it is creating new
jobs according the World Economic Forum
to 65% of today’s children will ending
up to work in jobs that doesn’t exist
yet adaptation innovation and
collaboration are key and I believe we
will be part of it part of this
incredible progress being made I will
close my presentation with few lines
from from mission the old miners later
and as you can see many things have
happened since 2009 and when the Bitcoin
first Bitcoin came out and to be honest
and truly time will tell us how far this
technology will go thank you you
[Applause]
[Music]
[Applause]
[Music]
[Applause]
[Music]
[Applause]
[Applause]
good afternoon today I’m going to talk
about cryptocurrencies and their roles
in changing the way we use money and my
name is Kemal and my name is Kemal and
I’m a certified Bitcoin professional and
currently working on my thesis and which
is blockchain used for financial
transactions in the UAE and at the same
time I’m co-founder of bling 71 one year
ago when I start working on blockchain
and cryptocurrencies I start our first I
start began blockchain in general and
then quickly I realized that how
blockchain is a huge and the
cryptocurrencies only small small part
and then I read articles books and
attended many blockchain events I spent
some time to understand is hard work but
many people are still struggle to
understand and isn’t it sniffing cept
for them many my wife included still may
look like this I hope today in my
presentation we can take quick and
simple look at the what cryptocurrencies
are how they work and the impact may
have before start talking about
cryptocurrencies let’s talk about what
money is actually before the trading it
starts the exchanging goods and services
it is bartering system and there was no
constantly fisherman who has fish but
who was not able to catch fish whenever
he wants and at the same time whenever
he wants to exchange fish with someone
they didn’t want fish
and he was not able to store that fish –
the next step is if coins and paper
money is created after that our
fisherman was able to trade his fish for
some points that he can use that money
to pay his expenses and banks become
more important after coins and paper
money created and then and the money at
the same time money became more abstract
Apple pay online shopping and credit
cards are some of them and the logical
next step is virtual money where
cryptocurrency comes in money has three
main functions medium of exchange which
help us to exchange goods and services
and store value help us the stove value
in all time and at the same time it has
unit of account which help us to compare
ticks such as 10 fish to apples to
apples for to fish getting back the
present globalisation has meant a shift
in how and where people live and spend
their money while face-to-face
transactions feel happening and there
are many ways to move money around which
was not impossible in earlier times
today but also they have some problems
how did transfer money
take a look a typical transfer first you
have to know how much money we’re going
to sent there is minimum maximum and
which currency are we sending in and
what about cost one of my closest friend
and she was trying to send money from
Germany to her hometown only 500 euros
and
I told him that you have to pay 50 euros
you see she’s not happy at all
once you decide to send money you have
to consider other things time efficiency
and security how long will it take and
how really efficient is that if what if
money lost along the way I just have
experience to share with you guys and I
was trying to send money from one bank
to another and in same country because
of a simple problem it went to some
black hole and it took two weeks to get
that money and compare that experience
to this in April 2000 1899 million word
litecoin was sent it took only 2 and a
half minutes to clear and 40 cent fees
how does that work cryptocurrency
is a digital and virtual money created
from code and it still has three main
functions medium of exchange store value
unit of unit of account and the same
time it is secure because cryptography
signs which is in corruption that they
use and each unit of it thanks to this
we are able to trace each unit of money
and this help us traceable Network when
I lost my money when I go to bank he was
sending to other bank in and then and
then he was sending the other bank
because they didn’t know that what
actually what happened the money and
this actually helped us to to work
together more efficient way and it
raised money in efficient way why is
that awesome
it is transparent that at least you can
see who sent what and when kind of thing
it is more secure because it’s using the
cryptography sign and everybody has same
same ledger and whenever we try to
change something we were not able to
change because it will be notified the
other users eliminate the middleman
still I don’t understand why we are
paying to the bank who is sitting in the
middle who is not involved in the
transaction after remove this men made
of men and it is cheaper and faster
because this money is are programmable
you can develop if any you can resolve
if any problems arise on the other hand
bitcoin is the first cryptocurrency but
there are many a terraeum Ripple Bitcoin
cash stellar the other popular
cryptocurrencies when I start working on
cryptocurrencies and blockchain they
were roughly 700 which is at the end of
2016 and today it is doubled and roughly
just about 600 1600 well we talk about
good things about cryptocurrencies but
at the same time there are some
considerations to make from individual
up to government and how transparent is
really and what about the yes it is
transparent for individuals what about
larger institutions they are able to see
that and how its regulated within with
great increase in cryptocurrencies and
also and also the concern about good and
bad players the question of regulation
surely surely come up and what question
though how regulated do we want them to
be
because if they’re all regulate then do
we then loss
what makes cryptocurrencies work so well
and individuals there are many choices
they don’t know which one is real which
ones safe and also the another
consideration that if they start
investing in if they start this start
switching over to cryptocurrencies for
investment needs and how does impact to
investment companies some investment
company sees that cryptocurrencies are
risky because of huge selections in the
prices some of them have been working
with it for a long time look at the big
picture US dollar has a crucial role for
the global economy that’s the reason
governments are reserving the US dollar
but because of the centralized corruptor
currencies and is not connecting the US
dollar people are worried about the
and today before we talk about future
let’s talk about what is happening what
is what exciting things are happening
now when when I was in Singapore I see
that people are using their
cryptocurrencies for purchasing drinks
at the cashless cafe and at the same
time governments like Germany they start
detecting for Bitcoin and
cryptocurrencies use the for purchases
and on the other hand on the other hand
we we see that the technology behind
cryptocurrencies are so important is not
only for financial transactions and I
believe that this is going to go up what
are exciting things for next 10 years
for sure near tools and infrastructure
did you know that 2017 according to
World Bank report 31% 1.7 million
billion people adults have no bank
accounts so I believe cryptocurrencies
and similar technologies have potential
alternative payment mechanism and
recently we have experienced in new
forms of payments and I believe
cryptocurrency is going to be part of it
and I’m quite sure that my wife will
find the different ways to spend my
money in coming years and microfinance
projects the financed projects are
really has a real potential and this is
already happening through various
government schemes and crowdfunding’s
and I believe cryptocurrency will make
this process easier better faster and
also there is an applications for thanks
violence is a cryptocurrency exchange
company and is established July 2017
eight months ago and they have only 200
people and they made 200 million dollars
at their second quarter of its existence
on the other hand at the same quarter
and Dutch Bank has 100,000 people and
they have been working since 1870 and
they made only 160 million well today we
already before feature we already talked
about critics what challenges might be
in the future some people believe that
behind both chain behind the
cryptocurrencies blockchain which might
cause some job losses this is the nature
of wall to be find ourselves in and on
one hand it might cause some job losses
but the under behind it is creating new
jobs according the World Economic Forum
to 65% of today’s children will ending
up to work in jobs that doesn’t exist
yet adaptation innovation and
collaboration are key and I believe we
will be part of it part of this
incredible progress being made I will
close my presentation with few lines
from from mission the old miners later
and as you can see many things have
happened since 2009 and when the Bitcoin
first Bitcoin came out and to be honest
and truly time will tell us how far this
technology will go thank you you
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