Bitcoin is a cryptocurrency and peer-to-peer payment system that was created in 2009. It allows users to send money to each other without going through a bank. Transactions are recorded on a public ledger called the blockchain. There are now hundreds of other cryptocurrencies besides Bitcoin. Blockchains are distributed ledgers that record transactions immutably across a network of computers. Cryptocurrencies and blockchains have several potential use cases, such as providing financial access in Venezuela and for refugees. Government agencies are also exploring blockchain applications. Blockchains are not suitable for all uses and do not replace the need for trust between parties in some cases.

1. Bitcoin: What You Need to
Know
Portia Burton
DC Blockchain Users Group
@pkafei

2. About
● Platform software developer
● Former life I was an educator
● Been in the blockchain space for
about a year

3. Enough about me, what about bitcoin?

4. Bitcoin Timeline
2007: Satoshi Nakamoto wrote Bitcoin white paper
2009: Bitcoin was deployed
2010: Satoshi Nakamoto disappeared and other volunteers have taken
over the project

5. What is Bitcoin?

6. Your Father
“Internet and virtual money. Send money
to friends and family without paying
remittance fee.”

7. Your Friend
“Virtual currency. Would look
into parking some of your
money into bitcoin. Long-term
returns are competitive”

8. Your Boss
“Bitcoin would make processing
payments from our clients in South
America faster and more efficient”

9. But what is bitcoin really?

10. Officially Bitcoin is
Type of Cryptocurrency
Peer-to-peer which means transactions happen without a third party. Alice
can send money directly to Bob
Trustless, distributed ledger, immutable ledger

11. Example of a Transaction

13. There are Hundreds of Other
Cryptocurrencies out There

15. Examples of Altcoins or
Cryptocurrencies

19. What is a Blockchain?

20. Fast Blockchain Facts
❏ Data store that powers bitcoin and other cryptocurrencies
❏ Distributed- every machine has the same replica of data (sharding)
❏ Can not erase data, it is immutable

21. Smart Contracts

23. Use Cases for Cryptocurrency
and Blockchain

24. Venezuala
Currently plagued by inflation, which is set to hit 1,600 percent
Food shortages are extreme
However, electricity is free and many of the population has “mined” bitcoin
Traveling agencies, and stores accept bitcoin

25. Refugee Crisis: Syria
Refugees of a failing country can not rely on state-sponsored
currency
A decentralized currency doesn’t depend on nation-state
boundaries
The United Nation’s World Food Program sent cryptocurrency-
based (like bitcoin) vouchers to 10,000 individuals

26. The United States
Past year has regularly held grant competitions for blockchain solutions
The Department of Energy is looking for a blockchain solution to record
real time sensor data
Recently The Department of Homeland Security has awarded the
company Evernym a $794,000 contract to develop blockchain
management solutions

27. What to *NOT* use a Blockchain for

28. You Do Not Need a Blockchain If….
❏ You only want one centralized place to store
data
❏ If you trust all parties storing and sharing data
❏ You don’t require 100% transparency

29. A Word About the Bitcoin vs. Bitcoin Cash

30. Where you can find me
Twitter: @pkafei
Email Address: portia@bitsandchains.com
Newsletter: http://eepurl.com/cYgyUf
Website: www.blockchainsidehustle.com