## Demystifying crypto (as in cryptocoins)
Silur
cryptall.co

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Did you know that:
- 85% of armored vehicles produced in the '90s are still in operation?
- Central-European banks (technically) still struggle with SEPA's transaction time window?
- Visa & Mastercard payment settlements can take days?

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## How banks protect your money now

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## Obscurity is not security
- Lack of incidents is not a metric for security
- Red-team assesments show it's almost contrary to actual security

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## What blockchain actually solve
- Oded Goldreich - "How to play any mental game" 1987
- Any multiparty "game" with distrust is reducible to a 2-party game with no distrust
- Blockchain is the state-of-the-art pragmatic instantiation of the theory

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## So what has distrust around it?
- Almost anything that involves humans
- ....especially money
- which is why bitcoin is the "killer app" of blockchain

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## How the distrust problem looks for money?
- Full asset-backing is nonexistent anymore (lots of imaginary money)
- Moving money physically is still a thing
- Cash is still the favorite payment method of criminals
- HA and scaling don't like each other, especially in mid-europe
- You cannot remove humans from FIAT banking

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## On speculation

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- Speculation is not inherent to blockchains
- It's volatility neither
- It exists, but not a useful tool for "the intelligent investor"
- Society still don't realize whom it should distrust
- Investors formalize this as "lack of usecases"

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- We produced 98% of our internet traffic since 2004 in the last 2 years
- That's also an exponential growth in sensitive data
- ... that's a lot of distrust!

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## So why cryptocoins?
- Uniform transaction times even between borders
- Better (yes it's better) UX
- No single point of failure
- Battle-tested security
- Transparency

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## And why blockchain?
- Money is not the only subject of conflicts:
- !!!Digital goods and escrow!!!
- Asset management
- Healtcare/Epharma
- Oil and alternative energy
- Gambling
- Sex work

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- Notary services
- Insurance
- Transportation
- Anti-counterfeiting

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## On that new generation
Lots of novel research in the industry:
- Pairing usecases
- MPC and thresold schemes
- IO
- FHE
- Sharding
- PoS

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## Usecases and killer apps are out there
- Society and financial life is undergoing a transformation
- Decentralized thinking is unintuitive for most people
- Yet 80% of millenials already distrust central models!

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## Think value, not speculate!
- _Anytime you have a multiparty process, where you want to eliminate an intermediary, or the advantages are not uniform, think about blockchain_

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## Thanks

[e-mail]