Transcript New entrants and disruptors

New entrants and disruptors
Gareth Grobler, Founder ICE³ Ltd
Neo Banking
Traditional banking infrastructure has changed exponentially over the last
couple of decades primarily due to the advance of technology and the
mainstream adoption of the internet.
Advantages of being a “Neo Bank”
● Build a brand - exit through buy out
● Marketplace lending
● 3rd Party financial watchdogs become trusted services
● Much easier than launching a real bank
rewind 20 years ….
enter Blockchain technology
Computer engineers and scientists have been struggling for over 60 years with
what is generally known as the “Byzantine generals problem”. Effectively the
issue here is that a reliable computer system must be able to cope with the
failure of one or more of its components ie. Sending conflicting information to
different parts of the system. In practice this can be illustrated by considering
the fact that from a technology perspective, data can be copied and
manipulated within its own ecosystem due to centralised control.
In 2008 a protocol solution was developed by a pseudo anonymous
programmer/s and aptly named “Bitcoin”, solving this long standing computing
problem.
Technology vs. Currency
Bitcoin - The technology
bitcoin - The Currency
Non-traditional player pressures
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Non-existent Bitcoin specific regulatory requirements
“Internet Bubble” money flowing in
Decentralised development and marketing
Technology hurdles
Consumer adoption
Highly unfavourable odds
Thinking like a start up
● Lean cost effective development
● Leveraging of existing platforms
● Thinking outside the box - new solutions to old
problems
● Bitcoin start ups no different from any other business or
tech start up
● New markets (remittance, trading, voting, interbank
settlements, decentralised management applications)
Future of Bitcoin
What is the future of Bitcoin?
What will bitcoin be worth in 2 years time?
Gareth Grobler
ICE³ Ltd
Twitter: @R3lb0rg
E-mail: [email protected]
for Bitcoin Africa Conference 2015