ripple future of payments is here
DESCRIPTION
Talk about ripple monetary system in the context of origin of money, capitalism and how ripple will change our future making money more personal and connected with real value as it used to be in the past. Prelection took place on 13th Sep 2013 at SmartDevCon in Katowice Poland.TRANSCRIPT
FUTURE OF PAYMENTS IS HERE
@fribulusxax @panadashFriday, September 13, 13
BRIEF HISTORY OF MONEY
20’000-13’000 B.Cuswpia2012
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1’100-600 B.C
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“In Greece near to Lydia money encouraged the democratisation of politics [...] where old privileges were abolished and eligibility for public o!ce became based on landed wealth. Democracy arose in cities with market economies and strong currencies.”
(Peter Watson ‘Ideas - history from fire to Freud’, Phoenix 2006, p.98)
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600 B.C. - 800
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800 - 900
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900 - 1950
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“I am willing to accept such amount of gold-coins for my goods that, I believe, will be
su!cient for others for those goods”
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1971
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‘70s - ‘90s
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10k credit cards transactions per second
1,60% average transaction fee in PL
0,72% average fee in EU
18’880 ATM’s in PL
AND HERE WE ARE
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Value of all papers and money
is about 360 - 600% of worlds GDP
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2009
Bitcoin goes open source
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1’645’477’362 USD
11’698’650 BTC
with less then 48% left to be mined by 2033
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2010 Low Energy Bluetooth
2011 Litecoin
2012 PPCoin
2013 Terracoin, Feathercoin
and many, many more...
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2013
Ripple goes open source
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WHY
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500 billion electronic transactions
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36 trillion hours
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10’s of billions of USD in fees
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Slow expensive and disconnected infrastructure
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OVERVIEW
Math-basedDistributed
Scalable
Multi currency network
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HOW IT WORKS
Government
Payer
PayeeBank
PLN
Trust
Trust
Trust
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Payer
Payee
PLN
Trust
Trust
Gateway
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Text
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Fact BTC Ripple FIAT
Cannot be stolen/lost/frozen Y* Y N
Allows indirect and immediate transfer of value N* Y N
No bank or financial institution influence Y Y N
Cannot be inflated devalued over time Y Y N
Distributed authority, no SPoF Y Y N
Susceptible to double spending attack Y* Y N
Susceptible to 51% attack N Y* N/A
Very low or no usage fees Y Y N
Anonymous purchases Y Y N
Irreversible transactions Y* Y N
Distributed exchange N* Y Y*
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WHAT’S NEXT?
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2014 Bitcoin slowly looses anonymity battle
First banks start using Ripple
Ripple launches Contracts
Ripple launches Federation Protocol
30+ Live Ripple Gateways
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2016 Banks adopting Ripple on a global scale
Internet Exchanges adopting Ripple
Micro-transactions changing publishing industry
Main social network becomes a gateway
500+ Ripple Gateways
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2020
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Global Citizens
Universal Distributed Bank Account
XRP as future super-currency
Monetary Freedom
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New Economic Models Arises
Tipping as Service Rating
Escrow with 2 parties only
Subscriptions with PWYW
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Please Payments
Thank You Payments
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@fribulusxax
THANK YOU
@panadash
@conc_ptFriday, September 13, 13