20140508 MANX Digital Currency Association GoCoin Presentation

Digital Currency Payments Platform:

eCommerce, Gaming Gifts, Charity, & more

Steve Beauregard [email protected] www.gocoin.com@GoCoin or @GoCoinCEO

http://www.gocoin.com/

CREDIT CARDS ARE TARGETS FOR FRAUD

The major card networks are

pushing payment companies to upgrade to

EMV or

“chip card” compatible points of

sale by 2015.

NO CREDIT CARDNO LOVE ! ! !

• 3-4% credit card transaction fees + $.30• Prepaid cards up to 20% fees• Credit card chargebacks• Too many intermediaries in transaction$$• MCC 7995 Friction

Current Operator Pains transaction fees too high

Pain + Friction = Opportunity

Digital Currencies Paymentsare superior & here to stay

• Bitcoin – Most circulated ~$10B• Peer-to-peer secure, instant payments• Military-grade encryption • Less than 1% transaction fees • Transparent, verified, frictionless• Irreversible Payments…No CHARGEBACKS• Growing trust economy (AirBnb, Uber, etc)

WHAT IS DRIVING ADOPTION?

The CROWD is disrupting established incumbents

peer-to-peer

Steve Beauregard, Founder & CEO

HYPE GOOD & BAD MAKES HEADLINES

CRYPTO CURRENCIES

BITCOIN HAS EVOLVED BEYOND ILLICIT USES SUCH AS “SILK ROAD” AND EARLY

FAILURES LIKE “MT. GOX, BIPS, AND OTHERS” THAT WERE

ROBBED OR MISMANAGED

MERCHANT CASE STUDIES

800 orders in 24 hours

$130K net new customers

$500,000 orders in 1st week

83,683 daily transactions (Nov. 2013)

5% of all orders are with Bitcoin better for

Bitcoin Credit Card PayPal

0% 2.7% 2.7% FRAUD

DISRUPTIVE TECHNOLOGY: BITCOIN

• Bitcoin the invention vs. Bitcoin the currency• Why are new technologies launched in adult

entertainment and online gambling industries first? The competitive drive for traffic and profits!

• Reach global markets with instant irreversible payments & no interchange/forex fees

• Payment processing and game engines with in-game commerce, tipping and gifting

• Cost savings in chargeback management, wire fees, & fraud prevention

• Will make digital currencies the preferred payment method of iGaming

HOW DO I GET BITCOINS?

1.Download Wallet2. Buy Coins

3. Earn Coins

HOW DO I EARN? ACCEPTING PAYMENTS

1. Signup for a merchant account– www.gocoin.com/merchant_signup

2. Upload merchant KYC documents3. Select currencies Bitcoin, Litecoin, Dogecoin4. Enter bank routing or wire details5. Determine Digital Currency / Fiat Splits6. Add payment option(s) to website7. Receive fiat deposits in bank

HOSTED INVOICE EXAMPLE


PROPOSED IGAMING WORKFLOW

WHAT DRIVES ADOPTION?

• Ease of obtaining coins• Smartphone penetration• Payment friction• Coin ATM machines• Merchant adoption• Digital currency only “deals”• Immediacy of deposits/payouts

CLOSING THOUGHTS/CONSIDERATIONS

• With or without iGaming regulators, operators and consumers will see the benefit of digital currencies.

• It is our belief that iGaming and financial regulatory concerns can be reconciled, and in a manner which will afford access to this new technology for gaming consumers in a safe, regulated market.

• Don’t give a competitive advantage to unlicensed operators; learn and grow with the technology while volumes are still low

• Markets with low card penetration will naturally move toward Bitcoin and other digital currencies

• This is the 2nd disruptive wave like the 90’s when gambling went online


BITCOIN: OPERATOR ON-RAMP

QUESTIONS

?

THANK YOU!

Steve Beauregard

[email protected]

20140508 MANX Digital Currency Association GoCoin Presentation

Economy & Finance

Transcript of 20140508 MANX Digital Currency Association GoCoin Presentation