Inside Bitcoins is coming to Chicago, Illinois July 10-11, 2015 at the Navy Pier. Speakers at the event will include top industry experts and professionals who will share insights into the cutting edge of bitcoin. Bitcoinist is proud to be an official media sponsor of the event.
Also Read:Inside Bitcoins Comes to Chicago
The schedule and complete list of confirmed speakers and sessions have been officially announced. Some of the sessions at Inside Bitcoins Chicago are: Blockchain-Based Startups, Bitcoin for Small Businesses, Banking and Fundraising, Security and Risk Mitigation, Multi-Signature Wallets, and Bitcoin for Non-Profits.
Building Trust on the Blockchain: The Importance of Mental Models
In order for the public to become more trusting of digital currencies, Brennen Byrne, Co-Founder and CEO of Clef says they need to feel they understand it more. “We need to create simple mental models that let people understand how to use Bitcoin, instead of trying to teach them advanced math. We need to lower the amount of knowledge that someone needs to participate in Bitcoin, as opposed to spending our time teaching the complete version of that knowledge.”
Leadership in a Time of Crypto: A Discussion On the Necessary Traits for Crypto Startups
More than ever, bitcoin startups are on the rise. Bobby Lee, CEO and Founder of BTC China, points out some important traits for startups: “For startups in digital currency, I think it is really important to create products or services that users really want, with clear benefits. Digital currencies are new, but in most cases, applications and use-cases are very traditional, so sometimes, startups struggle to provide clear benefits.”
According to Jim Blasko, creator of UnbreakableCoin and Co-Founder of CryptoMarket, quality and security are two of the most important traits for digital currency startups. “A startup company must take every precaution possible to protect their consumers, while offering solid services and/or products that not only fill the needs, but also exceed the expectations of the end user. Startups should set goals that are reachable within manageable time frames and new companies should practice learning how to under promise, only to over deliver their product and/or services.”
Pamela Morgan is the Founder and CEO of Third Key Solutions. Pamela believes it is important for startups to connect with the community, identify real problems they can solve, and remain focused on solving those problems.
Multi-Sig: Theft, Regulation, and Why It May be a Startup’s Best Friend
All startups face challenges. However, bitcoin startups face a unique set of challenges compared to traditional businesses. Andrew Beal is a corporate attorney and expert in corporate law. He points out some of the challenges bitcoin startups face:
(1) Flexibility – For the short term, the regulatory environment in most jurisdictions is in flux. Company’s need to go into it knowing that the goal posts are constantly moving and be comfortable with some amount of uncertainty.
(2) It’s Still Early – A lot of companies are building really innovative technology, but most of them will inevitably be too early. The other side to that coin though is that we need those companies to push the envelope and show us what is possible, even if they don’t last.
(3) Perception – although the industry has come a long way in the last two years and done a lot to improve the public perception of bitcoin and virtual currencies, it is still an uphill battle. What seems to have been successful is narrowing the scope of conversation to the technology, and the power of distributed ledgers.
Social Impact Stories in Bitcoin
Bitcoin is transforming philanthropy and changing lives. Connie Gallippie created the BitGive Foundation for precisely this reason. Today, people are being more aware of bitcoin and how it can be used for social impact. How can bitcoin be used to positively impact the world? Connie shares some insight:
“Bitcoin enables direct transactions to anywhere in the world – quickly, securely, and with low to no fees, especially for nonprofits. This not only provides a way to access and have impact in the most impoverished and remote areas of the world, but to do so in a way that is highly secure, instantaneous, and inexpensive. We have funded disaster relief in the Philippines and Nepal and recently completed a water well at a girls school in a remote area of western Kenya with The Water Project. I now can send funds to the school principal in Kenya directly to her mobile phone using BitPesa and Mpesa! This is only one example, imagine what the possibilities are on a global scale!”
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