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Title: Jon Matonis pumps bitcoin at a KPMG eGaming conference in Gibraltar Post by: mikegogulski on April 01, 2011, 10:23:28 AM Matonis is known both for being a long-time deep thinker on the future of money as well as being the creator of hushmail.com
Intriguing slideshow. I'd love to have heard the talk alongside it, as well as the talk in the halls and in the bar afterward. http://themonetaryfuture.blogspot.com/2011/03/monetising-game-play-on-social-network.html Title: Re: Jon Matonis pumps bitcoin at a KPMG eGaming conference in Gibraltar Post by: Cryptoman on April 01, 2011, 06:10:06 PM This is really big. Thanks for posting this. I'm a big Matonis/Hushmail fan.
Title: Re: Jon Matonis pumps bitcoin at a KPMG eGaming conference in Gibraltar Post by: Stephen Gornick on April 01, 2011, 07:32:37 PM Presentation Transcript
Quote Monetising Game Play on Social Network Sites - Presentation Transcript Monetising Game Play on Social Network Sites Jon Matonis 31 March 2011 Overview Chief Forex Dealer at VISA International Director of Financial Services Vertical for VeriSign, Inc. CEO of Hush Communications, creator of encrypted Hushmail.com Editor of The Monetary Future blog on digital currencies Social Gaming and Virtual Currency Revenue Shift Away from Advertising Virtual Goods Revenue Increasing The Entrance of Facebook Credits Social Gaming Beyond Facebook Types of Payment Choices for eGaming Credit card/debit card EFT wire transfer/eCheck/ACH Cashier’s check/money order Western Union/MoneyGram Proxy eWallet account (Click2Pay, Moneybookers, MyPaylinQ, Neteller, Ukash, Webmoney, etc.) Mobile payment Non-political virtual currency unit (Facebook Credits, Linden Dollars) Attributes of a True Virtual Currency P2P capable Anonymous/pseudonymous Two-way convertibility Transactional non-repudiation Easily divisible Portable and offline capable Security and scarcity Frictionless (no transaction fees) Nearly instant deposits/withdrawals Previous Barriers to a True Virtual Currency Gold bullion cannot be molecularly transported across the Internet Emulating the anonymity features of physical cash or gaming chips is difficult Digital bearer certificates have to verify against a centralised ‘mint’ which creates a single point of failure Decentralisation opens up the possibility for double spending the digital ‘coins’ Bitcoin: A New Entrant What is Bitcoin? One of the first implementations of a concept called cryptocurrency (circa, 1998) Does not rely on trusting any central issuer Relies on the transfer of amounts between accounts using public key cryptography (like PGP for money) Scarcity based on a reusable proof-of-work Double-spending prevented by a distributed time server implementing chained RPOWs Major Features of Bitcoin Current size of economy (~BTC 6,000,000) Nodes connected (5,000-10,000) Trading turnover (equivalent $30,000/day) Decentralised confirmations Distributed nodes (peer-to-peer) Open source software (peer reviewed) Non-political unit of account Independent market-based exchange rate Evolution of Bitcoin 31/10/08 Bitcoin academic paper published 11/01/09 Bitcoin v0.1 released 17/07/10 MtGox exchange established 06/11/10 Bitcoin economy passes $1.0m 09/12/10 Generation difficulty passes 10,000 28/01/11 Block 105000 generated, 5.25m/21m 11/02/11 Bitcoin reaches USD parity, $1/BTC 03/03/11 Bitcoin v0.3.20.2 released 27/03/11 First BTC:GBP exchange opens Benefits of Bitcoin Bitcoin is ideally suited to the eGaming and online casino financial requirements Monetary properties and features emulate the physical gaming chips in a real-world casino Features correlate to the customer demand for a digital/virtual currency eGaming Sites Currently Using Bitcoin Map of Bitcoin Nodes Total Bitcoins Issued Over Time Bitcoin-USD Exchange Rate (Jul 2010 – Mar 2011) Future Implications Google is the Player to Watch Google acquires Social Gold, a virtual currency platform (August 2010) Google acquires Zetawire to look after NFC payments (December 2010) Google releases BitcoinJ, a bitcoin client for Java (March 2011) Google now has 750 staff in payments division! The Dawn of the Cryptocurrency Economy “Digital cash is to legal tender as BitTorrents are to copyrights.” -- J. Matonis The Dawn of the Cryptocurrency Economy A Digital Currency Revolution will...... Fundamentally alter the current hierarchy of central banking and banks Challenge traditional value depositories Cause KYC rules for certain transactions to become irrelevant Make monetary and taxation jurisdictions less important Opportunities for Gibraltar Jurisdiction eGaming companies that adapt Prepaid operators (Transact Networks, IDT, Wavecrest) eMoney and virtual currency exchanges Cryptocurrency market-makers Thank You Jon Matonis matonis@hushmail.com twitter.com/jonmatonis - http://www.slideshare.net/jonmatonis/monetising-game-play-on-social-network-sites Title: Re: Jon Matonis pumps bitcoin at a KPMG eGaming conference in Gibraltar Post by: nextnonce on April 01, 2011, 08:12:28 PM Nice to see some good news that is not an April fool's joke ::) Thanks for sharing.
Title: Re: Jon Matonis pumps bitcoin at a KPMG eGaming conference in Gibraltar Post by: Cusipzzz on April 01, 2011, 11:52:55 PM Wow! He used a screenshot of BTCSportsbet.com ! Very nice deck. :-)
Title: Re: Jon Matonis pumps bitcoin at a KPMG eGaming conference in Gibraltar Post by: ColdHardMetal on April 02, 2011, 02:10:11 AM Man, that looks like a pretty legit presentation. I wonder how big his audience was. KPMG is pretty big-time so I can't imagine one of their senior guys would be wasting his day at some tiny event.
Title: Re: Jon Matonis pumps bitcoin at a KPMG eGaming conference in Gibraltar Post by: matonis on June 25, 2011, 04:15:28 PM I'm a big Matonis/Hushmail fan. I was too... Until Hushmail rolled over for the feds. It's time to clear the air on this. I have read several comments like this one but I chose this one to respond to. My tenure as CEO of Hush Communications was from 2000-2002 during the period that the headquarters was located in Dublin, Ireland. We indeed responded to many international subpoenas during that time period and a special division was set-up to verify the authenticity of the many inbound government subpoenas. Our response was to comply with the subpoena and to turn over the contents of the inbox and the outbox, which of course was encrypted. Due to the nature of the java applet and password hashing technique, Hush Communications did not have the ability to decrypt any data. Sustained non-compliance to subpoena orders would have led to significant legal fees and probably the end of the company's operations. Furthermore, if users had deployed Hushmail properly in the first place, our compliance was not harming any users and this was a major factor in our decision. The change in policy that you refer to occurred after my tenure at Hush Communications when the company relocated its headquarters to Vancouver, Canada. The controversy revolved around compromised java applets served to targeted users where some Hushmail employees, with government coercion, actually cooperated to obtain the user's password. This is distinctly different than merely turning over encrypted data. Please see http://en.wikipedia.org/wiki/Hushmail Of course, this is hindsight, but I would NOT have allowed the company to take that additional step, because I believe that it is a direct, unwarranted intervention and it violates the end-user agreement with Hushmail's userbase. It crosses the line. I would have taken it to court and I would have made it an international media issue for privacy rights. People who know me well would agree that is my stance. Failing that, I could have also resigned in protest. It is important to state that Hushmail is still a valuable and safe service if utilized properly. All security is relative. Physical keyboard sniffers and ceiling cameras can be mounted in a suspect's home to obtain PGP private key passphrases. If one verifies the Hush applet against source code or better yet stores a clean version locally, the threat of a 'spoofed' applet can be eliminated. Title: Re: Jon Matonis pumps bitcoin at a KPMG eGaming conference in Gibraltar Post by: qualia8 on June 25, 2011, 04:18:13 PM Excellent news. This is what will secure the value of bitcoin.
Title: Re: Jon Matonis pumps bitcoin at a KPMG eGaming conference in Gibraltar Post by: stick_theman on June 26, 2011, 01:48:33 AM Good work, Jon! Love your web site.
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