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Intro to cryptocurrency and digital assetsUKGCVA Conference, 4 March 2020 Trevor Filter · @trev
Strictly Confidential & Proprietary. Not to be shared or distributed without explicit written permission from Flexa.
Trevor Filter Started Flexa in 2018
10+ years in payments
MIT Media Lab, Amex, IRS, Bloomberg
What are digital assets?
What are digital assets?
Where did they come from?
What are digital assets?
Where did they come from?
How are they being used?
What are digital assets?
Where did they come from?
How are they being used?
What makes them better?
What are digital assets?
Where did they come from?
How are they being used?
What makes them better?
What do you do about it?
Sour
ce: C
oinM
arke
tCap
, Blo
ckch
ain.
info
£02 Mar 2010
Sour
ce: C
oinM
arke
tCap
, Blo
ckch
ain.
info
£610 billion7 Jan 2018
Sour
ce: C
oinM
arke
tCap
, Blo
ckch
ain.
info
£198 billion3 Mar 2020
Sour
ce: C
oinM
arke
tCap
, Blo
ckch
ain.
info
What are digital assets?
The Internetenables us to easily exchange
information and ideas…
🌐
The Internetenables us to easily exchange
information and ideas…
🌐enable us to securely exchange assets and value and money
¤Digital Assets
“Cryptocurrencies”¤“Coins”
“Tokens”“Blockchains”
¤Digital Assets
Where did they come from?
Bitcoin Litecoin EtherBTC LTC ETH
2009 2011 2015
Bitcoin Litecoin EtherBTC LTC ETH
2009 2011 2015
Bitcoin Litecoin EtherBTC LTC ETH
2009 2011 2015
XRP Stellar DashXRP XLM DASH
Dai EcoDAI ECO
TerraLUNA
LibraLIBRA
USD Coin Gemini dollar
USDCGUSD
…plus 5,000 more
…plus 5,000 more(Seriously.)
How are they being used?
£198 billionof value stored as digital assets today
Source Data: CoinMarketCap
£592 billionof value transacted every month
Source Data: Chainalysis
£592 billionof value transacted every month
Source Data: Chainalysis
£592 billion
Source Data: Chainalysis
90%Speculative Investing (Trading)
£592 billion
Source Data: Chainalysis
90%Speculative Investing (Trading)
4%P2P
£592 billion
Source Data: Chainalysis
90%Speculative Investing (Trading)
4%P2P
Merchant Payments 1.3%
£592 billion
Source Data: Chainalysis
90%Speculative Investing (Trading)
4%P2P
Merchant Payments 1.3%Illicit Activity 0.8%
£592 billion
Source Data: Chainalysis
Spending by Transaction
Source Data: Flexa
Spending by Transaction
☕61%
Coffee, Tea, & QSR
Source Data: Flexa
Spending by Transaction
☕61%
Coffee, Tea, & QSR🍿10%
Entertainment
Source Data: Flexa
Spending by Transaction
☕61%
Coffee, Tea, & QSR🍿10%
Entertainment
👚9%Apparel
Source Data: Flexa
Spending by Transaction
☕61%
Coffee, Tea, & QSR🍿10%
Entertainment
👚9%Apparel
🎮6%Electronics
Source Data: Flexa
Spending by Transaction
🏠 💅 💼 🐶5% 4% 3% 2%
☕61%
Coffee, Tea, & QSR🍿10%
Entertainment
👚9%Apparel
🎮6%Electronics
Source Data: Flexa
Spending by Volume
Source Data: Flexa
Spending by Volume
26%👚 Apparel
Source Data: Flexa
Spending by Volume
☕Coffee, Tea, & QSR21%
26%👚 Apparel
Source Data: Flexa
Spending by Volume
☕Coffee, Tea, & QSR21%
🎮13%Electronics
26%👚 Apparel
Source Data: Flexa
Spending by Volume
☕Coffee, Tea, & QSR21%🍿Entertainment 13%
🎮13%Electronics
26%👚 Apparel
Source Data: Flexa
Spending by Volume
🏠10%Home Supplies
☕Coffee, Tea, & QSR21%🍿Entertainment 13%
🎮13%Electronics
26%👚 Apparel
Source Data: Flexa
Spending by Volume
🏠10%Home Supplies
💅10%Beauty
☕Coffee, Tea, & QSR21%🍿Entertainment 13%
🎮13%Electronics
26%👚 Apparel
Source Data: Flexa
Spending by Volume
💼 🐶5% 3%
🏠10%Home Supplies
💅10%Beauty
☕Coffee, Tea, & QSR21%🍿Entertainment 13%
🎮13%Electronics
26%👚 Apparel
Source Data: Flexa
2013 2014 2015 2016 2017 2018 2019 2020 2021
1.51.8
Cryptocurrency spending, in billions of pounds
2.6
7.7projected
16.9projected
Source Data: Chainalysis
What makes them better?
Better SecurityNUMBER ONE
Sour
ce: A
mer
ican
Exp
ress
Sour
ce: B
lick
3797 549282 41050
E9873D79C6D87D
C0FB6A5778633389F4
453213303DA61F20BD
67FC233AA33262
Credit card number
3797 549282 41050
E9873D79C6D87D
C0FB6A5778633389F4
453213303DA61F20BD
67FC233AA33262
Credit card number Bitcoin private key
3797 549282 41050
E9873D79C6D87D
C0FB6A5778633389F4
453213303DA61F20BD
67FC233AA33262
Credit card number Bitcoin private key
3797 549282 41050
E9873D79C6D87D
C0FB6A5778633389F4
453213303DA61F20BD
67FC233AA33262
~1 in a billion
Credit card number Bitcoin private key
3797 549282 41050
E9873D79C6D87D
C0FB6A5778633389F4
453213303DA61F20BD
67FC233AA33262
~1 in a billion~1 in a hundred million billion
billion billion billion billion billion quadrillion
Instant GuaranteesNUMBER TWO
Time to guarantee good funds
FedWire 1–2 hours
“seconds”
~3 seconds
1–2 business days
~2 seconds
Cryptocurrency Instant
FedACH
FedNow*
FPS
Credit/debit
Merchant Terminal Gateway Payment
ProcessorCard
AssociationCard
Processor IssuerCustomer Account
Payment card
💳
Merchant Terminal Gateway Payment
ProcessorCard
AssociationCard
Processor IssuerCustomer Account
💳
Payment card~2 seconds round trip
BlockchainWallet
#
Cryptocurrency
BlockchainWallet
#
Cryptocurrency
BlockchainWallet
#
Cryptocurrency
BlockchainWallet
#
Always connected
Cryptocurrency
Lower CostsNUMBER THREE
Cost of acceptance
BitPay Coinbase Commerce
Flexa
Cost of acceptance
1.0%
BitPay Coinbase Commerce
Flexa
Cost of acceptance
1.0%
BitPay Coinbase Commerce
Flexa
0.5% exchange fee
~10pnetwork fee
+
Cost of acceptance
1.0%
BitPay Coinbase Commerce
0.5%
Flexa
0.5% exchange fee
~10pnetwork fee
+
Cost of acceptance
BitPay Coinbase Commerce Flexa Debit Credit FPS Gift
Cards
For a £50 transaction
50p35p
25p40p
60p
£1.00
£1.50
Safer
Faster Cheaper
Safer
Faster Cheaper
Digital assets
What do you do about it?
Try it for yourself
coinbase.com
Try it for your business
0.5% per transaction
Zero fraud, guaranteed
Learn more about how it works
Questions?
