Cryptocurrency: Should we invest or not? Prepared & Presented by: Roland Abi Najem www.rolandabinajem.com @rolandanajem @rolandabinajem rolandabinajemofficialpage +RolandAbiNajem RolandAbiNajem
Psychology of Money Have you heard about the man who withdraws money from the ATM to deposit them inside the Bank because it is safer?
What is Bitcoin? Cryptocurrency? Blockchain? Bitcoin is a Cryptocurrency Cryptocurrency is NOT Bitcoin Bitcoin is basically a “computer file” which is stored in a 'digital wallet' app on a smartphone or computer. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. Every single transaction is recorded in a public list called the blockchain Blockchain is the technology behind cryptocurrencies.
How many Cryptocurrencies do we have? Bitcoin, Ethereum, and Ripple are just the beginning. If you follow the cryptocurrency markets, it may seem like you're hearing about a new type of cryptocurrency every day. This is because there are well over 1,000 cryptocurrencies in existence, with new ones being created frequently.
What do you want to use cryptocurrency for? Do you want to use it as money? or Crypto technology = Blockchain
Blockchain Ledger is NOT a Database! Blockchain is writing history Historical records that CANNOT be Changed
Can we Trust the system? 10 years previously people did NOT trust using credit card online... now everyone does Blockchain is a new technology and still under development
Can Blockchain be hacked? Basically everything can be hacked Effectively it is almost impossible
Blockchain Challenges in the Middle East Technical Challenges (Scaling, Compatibility) Advertising Restriction Infrastructure & Technical Requirements Awareness Security Risks Financial Incentives Legal Questions Privacy Vs Transparency (right to be forgotten) Regulations
Should we Invest or Not?
Thank you