BITCOIN IS TECHNOLOGY-- Presented to Bank Negara on November 4th 2013 --

Is Bitcoin a Commodity, Currency or Technological Community?

• Bitcoin is a technology – the start of decentralized ideals

• It uses a public ledger to enforce transparency & consensus at a time where distrust for institutions is at an all time high

• It uses private peer-to-peer networks to transfer value directly from one person to the other within seconds

• Every transaction is broadcasted to every user in the network

• There is no authority, hierarchy or single institution in control, nor is there a single point within the ecosystem to control

• Transaction fees, identification and registration are optional

• Over 100 million people are already using Bitcoin

Bitcoin is an OpenSource Global API for International Payments

• There are no sign-up, registration forms, nor application fees. Adding payments to your website takes 5 minutes

• Used for authentication & messaging too – not just payments

• Germany have classified Bitcoin as Private Money(with capital gains tax if held longer than 12 months)

• Canada is not only taxing Bitcoin transactions, but is also developing its own National Digital Currency

• French banks work in partnership with Exchanges

• The UK & Singapore Governments publicly announced they have no plans to tax or regulate the space for at least 18 months so lots of new exchanges in UK, Europe & Singapore

AMERICA, CHINA and KENYA LEAD THE WAY

• Over US$50 Million in US VC Investments for Bitcoin Startups(same laws apply as traditional money transmitting businesses)

• Google has already invested into Ripple.com• Y-Combinator & Fred Wilson invested into Coinbase.com• Ashton Kutcher & Max Keiser invested into BitPay.com

• More Kenyans have Bitcoin than have Bank Accounts – TBC

• 4 US-Based Companies Contacted Betanomics seeking compliant Malaysian Partnerships – currently impossible

• In the past 3 months, China became largest global player(and several US companies moved to Singapore)

PERSPECTIVE IS EVERYTHING – ASK KENYA OR CYPRUS

• For the world’s un-banked, there is no other choice

• For small businesses, freelancers and startups in developing nations, there is no other choice

• When you have choice, it’s hard to imagine those without

• With Bitcoin, a Sarawakian Pepper Farmer could create global commerce relationships in the US without ever leaving their Kampong or needing to open a bank account

• With Bitcoin technologies, a developing nation could create their own decentralized currency that built transaction tax directly into the currency itself

What does the future hold for those that are bold …?

• The future of Bitcoin is uncertain at best

• The future of digital currencies is a certainty - as are the more important needs for decentralized stores of value

• National adoption of decentralized currencies would lead to political transparency and economic neutrality

• Developing nations that seek to curb corruption and break-free from a US-Based economy (in the same way that China is now doing) are in unique positions that actually allow them to make the necessary change

• Bitcoin started as an experiment in 2009. That experiment is over. Decentralized public trust works …

Public Consensus Agrees – Neutrality Trumps All

THE FUTURE – PROJECT KEYHOTEECommunication and Payment as One - http://invictus-innovations.com/keyhotee/

Bitcoin is a techno tour de force-- Bill Gates

Bitcoin will do to banks what email did to the postal industry

-- Rick Falkvinge

MARK SMALLEYhttp://betanomics.asia