investors2017ls.tex (37669B)
1 \documentclass[c]{beamer} 2 3 %\usepackage{helvet} 4 \usepackage{calc} 5 \usepackage[utf8]{inputenc} % set your input encoding differently, if you want 6 \usepackage[english]{babel} 7 8 \usepackage{enumitem} 9 \usepackage{eurosym} 10 \usepackage{tikz} 11 \usepackage{pgfgantt} 12 \usepackage{amsmath,amssymb} 13 \usetikzlibrary{shapes,arrows} 14 \usetikzlibrary{positioning} 15 \usetikzlibrary{calc} 16 \usepackage[absolute,overlay]{textpos} 17 18 %\setbeameroption{show notes} 19 20 \setlist[itemize]{label=$\bullet$} 21 22 23 \def\checkmark{\tikz\fill[scale=0.4](0,.35) -- (.25,0) -- (1,.7) -- (.25,.15) -- cycle;} 24 25 \setbeamercovered{transparent=10} 26 \setbeamertemplate{navigation symbols}{Presentation --- Taler Systems S.A. --- \today --- Page \insertpagenumber} 27 \setbeamertemplate{section in toc}[sections numbered] 28 29 % Adapt title information 30 % ======================= 31 \title{Taler Systems S.A. \\ {\small {\bf T}axable {\bf A}nonymous {\bf L}ibre {\bf E}lectronic {\bf R}eserves}} 32 \institute{Instant Independent One-Click Payments} 33 \author{Christian Grothoff \& Leon Schumacher} 34 \date{\today} 35 36 % Some common packages 37 % ==================== 38 \usepackage{units} 39 \usepackage{amsbsy} 40 \usepackage{amsmath} 41 \usepackage{amssymb} 42 \usepackage{graphics} 43 \usepackage{epsf} 44 \usepackage{epsfig} 45 \usepackage{fixmath} 46 \usepackage{wrapfig} 47 48 49 \usetikzlibrary{snakes} 50 51 52 \begin{document} 53 54 \begin{frame} 55 \titlepage 56 57 %{\tiny 58 %``I think one of the big things that we need to do, is we need to get a way from true-name payments on the Internet. The credit card payment system is one of the worst things that happened for the user, in terms of being able to divorce their access from their identity.'' \\ \hfill --Edward Snowden, IETF 93 (2015)} 59 \end{frame} 60 61 \begin{frame}{Agenda} 62 \tableofcontents 63 \end{frame} 64 65 \section{Unique Sales Propositions} 66 \begin{frame}{1. Unique Sales Propositions (USPs)} 67 \begin{itemize} 68 \item Instant One Click Payments 69 \item Privacy for spender from payment system provider 70 \item No Fraud (compared to credit card online payments) 71 \item No authentication needed for payment 72 \item Micropayments possible 73 \item Low transaction costs 74 \item Open 75 \item Scalable 76 \item Transparent 77 \end{itemize} 78 \end{frame} 79 80 81 \section{The Problem} 82 \begin{frame}{2.1. The Problem} 83 84 3D secure (``verified by visa'') is a nightmare: 85 \begin{minipage}{5cm} 86 \begin{itemize} 87 \item Complicated process 88 \item Shifts liability to consumer 89 \item Significant latency 90 \item Can refuse valid requests 91 \item Legal vendors excluded 92 \item No privacy for buyers 93 \end{itemize} 94 \end{minipage} 95 \begin{minipage}{5cm} 96 \includegraphics[width=\textwidth]{illustrations/cc3ds.pdf} 97 \end{minipage} 98 Cryptographers' paper on 3DS: 99 \begin{center} 100 ``Verified by Visa and MasterCard SecureCode: 101 Or, How Not to Design Authentication'' 102 \end{center} 103 Online credit card payments will be replaced, but with what? 104 \end{frame} 105 106 107 \begin{frame}{2.2. The Problem} 108 \vfill 109 \begin{textblock*}{6cm}(0.5cm,1cm) % {block width} (coords) 110 \begin{itemize} 111 \item Global tech companies push oligopolies 112 \item Privacy and federated finance are at risk 113 \item 30\% fees are conceivable 114 \item Economic sovereignty is in danger 115 \end{itemize} 116 \end{textblock*} 117 \begin{textblock*}{4cm}(9.5cm,3.2cm) % {block width} (coords) 118 {\includegraphics[width=\textwidth]{competitor-logos/amazon.png}} 119 \end{textblock*} 120 \begin{textblock*}{2cm}(7cm,1cm) % {block width} (coords) 121 {\includegraphics[width=\textwidth]{competitor-logos/alipay.jpeg}} 122 \end{textblock*} 123 \begin{textblock*}{2cm}(9cm,0.5cm) % {block width} (coords) 124 {\includegraphics[width=\textwidth]{competitor-logos/paypal.jpeg}} 125 \end{textblock*} 126 \begin{textblock*}{2cm}(9cm,2cm) % {block width} (coords) 127 {\includegraphics[width=\textwidth]{competitor-logos/applepay.jpeg}} 128 \end{textblock*} 129 \begin{textblock*}{2cm}(7.5cm,2.9cm) % {block width} (coords) 130 {\includegraphics[width=\textwidth]{competitor-logos/samsungpay.jpeg}} 131 \end{textblock*} 132 \begin{textblock*}{1cm}(9.5cm,3.3cm) % {block width} (coords) 133 {\includegraphics[width=\textwidth]{competitor-logos/android_pay.png}} 134 \end{textblock*} 135 \vfill 136 \end{frame} 137 138 139 140 \begin{frame}{2.3. The Problem} 141 142 \begin{block}{European alternatives are low-tech:} 143 {\includegraphics[width=2cm]{competitor-logos/laterpay.jpeg}} 144 {\includegraphics[width=2cm]{competitor-logos/sofortueberweisung.jpeg}} 145 {\includegraphics[width=2cm]{competitor-logos/paydirect.jpeg}} 146 \end{block} 147 \begin{block}{European regulation requires high-tech:} 148 \begin{center} 149 \includegraphics[width=2cm]{illustrations/ec.png} 150 151 AML, KYC, {\bf GDPR} 152 \end{center} 153 \end{block} 154 \end{frame} 155 156 157 \section{What is Taler?} 158 \begin{frame}{3.1. What is Taler?} 159 \vfill 160 \begin{center} 161 Taler is an electronic instant payment system. 162 \end{center} 163 \begin{itemize} 164 \item Pay in existing currencies (i.e. EUR, USD) 165 \item Uses electronic coins stored in wallets on customer's device 166 \end{itemize} 167 \vfill 168 \end{frame} 169 170 171 \begin{frame} 172 \frametitle{3.2. What is Taler?} 173 \begin{center} 174 \includegraphics[width=0.9\textwidth]{illustrations/taler-arch-full.pdf} 175 176 $\Rightarrow$ Convenient, taxable, privacy-enhancing, \& resource friendly! 177 \end{center} 178 \end{frame} 179 180 181 \begin{frame}{4.1. Advantages of Taler} 182 \begin{itemize} 183 \item{All operations provide cryptographically secured, mathematical proofs for courts \& auditors} 184 \item{Customer can remain anonymous 185 \begin{itemize} 186 \item retain civil liberties in increasingly cash-less world 187 \item eliminates costly customer authentication 188 \item no credit card number theft possible 189 \item merchants do not need to operate expensive certified equipment \& processes (PCI DSS, etc.) 190 \item Taler can give change and refunds, even to anonymous customers 191 \end{itemize}} 192 \item{Merchants are identifiable in each payment they receive 193 \begin{itemize} 194 \item bad for illegal business 195 \item no tax evasion 196 \end{itemize}} 197 \end{itemize} 198 \end{frame} 199 200 201 \begin{frame}{4.2. Advantages of Taler} 202 \begin{itemize} 203 \item{Payments in existing currencies, does not introduce any new currency 204 \begin{itemize} 205 \item financial stability, no risks from currency fluctuation 206 \item payment system, not speculative investment 207 \end{itemize}} 208 \item{Scalable, fast protocol implementation 209 \begin{itemize} 210 \item low transaction costs (in terms of computation at high volume) 211 \end{itemize}} 212 \item{Open standard protocol without patents with free reference implementations 213 \begin{itemize} 214 \item low barrier to entry for new merchants 215 \item governments may adopt as part of digital sovereignty agenda 216 \end{itemize}} 217 \end{itemize} 218 \end{frame} 219 220 221 \begin{frame}{5. Social Impact of Taler} 222 \begin{center} 223 \includegraphics[height=0.8\textheight]{../../social-impact.pdf} 224 \end{center} 225 \end{frame} 226 227 228 229 \section{Operating Model} 230 231 \begin{frame}{6. Operating Model} 232 \begin{center} 233 \includegraphics[width=\textwidth]{illustrations/operating-model.pdf} 234 \end{center} 235 \note{Operator charges transaction fees. 236 Taler Systems develops core technology and provides 237 exclusive support to payment service provider. 238 239 In return, payment service provider contributes 240 financially to Taler Systems S.A.} 241 \end{frame} 242 243 244 \section{The Market} 245 % FIXME: update, include Visa/Master/PayPal, AliPay in particular! 246 % FIXME: render more nicely? 247 \begin{frame}{7. The Market} 248 \begin{textblock*}{0.6\textwidth}(1cm,5cm) % {block width} (coords) 249 \includegraphics[width=\textwidth]{payment_solutions.png} 250 \end{textblock*} 251 \begin{textblock*}{0.6\textwidth}(5.5cm,1cm) % {block width} (coords) 252 \includegraphics[width=\textwidth]{payment_volume.png} 253 \end{textblock*} 254 \note{The market is big.} 255 \end{frame} 256 257 258 \section{Competitors} 259 \begin{frame}{8. Competitor comparison} 260 \begin{center} \small 261 \begin{tabular}{l||c|c|c|c|c} 262 & Cash & Bitcoin & Zerocoin & Creditcard & GNU Taler \\ \hline \hline 263 Online &$-$$-$$-$ & ++ & ++ & + & +++ \\ \hline 264 Offline & +++ & $-$$-$ & $-$$-$ & + & $-$$-$ \\ \hline 265 Trans. cost & + & $-$$-$$-$ & $-$$-$$-$ & $-$ & ++ \\ \hline 266 Speed & + & $-$$-$$-$ & $-$$-$$-$ & o & ++ \\ \hline 267 Taxation & $-$ & $-$$-$ & $-$$-$$-$ & +++ & +++ \\ \hline 268 Payer-anon & ++ & o & ++ & $-$$-$$-$ & +++ \\ \hline 269 Payee-anon & ++ & o & ++ & $-$$-$$-$ & $-$$-$$-$ \\ \hline 270 Security & $-$ & o & o & $-$$-$ & ++ \\ \hline 271 Conversion & +++ & $-$$-$$-$ & $-$$-$$-$ & +++ & +++ \\ \hline 272 Libre & $-$ & +++ & +++ & $-$ $-$ $-$ & +++ \\ 273 \end{tabular} 274 \end{center} 275 \note{Not having payee-anonymity is a good thing as otherwise money laundering 276 becomes a real problem.} 277 \end{frame} 278 279 280 \begin{frame}{9. Payment solutions - Pricing} 281 % FIXME: Konkrete Zahlen fuer Beispieltransaktionen 282 \begin{center} 283 \begin{tabular}{l||c} 284 {\bf Provider} & {\bf Pricing} \\ \hline \hline 285 Alipay & 2,0\% - 3,0\% \\ \hline 286 Allied Wallet & 1,95\% + \$ 0,20 \\ \hline 287 Amazon Payments & 2,9\% + \$ 0,30 \\ \hline 288 Avangate & 4,9\% + \$ 2,50 \\ \hline 289 Billpro & 2,1\% + 3,5\% fee \\ \hline 290 BitGold Inc. & 1\% fee on every purchase \\ \hline 291 Bitpay (Bitcoin)& 0\% \\ \hline 292 Checkout.com & 2,95\% - 3,95\% + \pounds 0,15 \\ \hline 293 Coinify (Bitcoin) & 0\% \\ \hline 294 eComCharge & 3,5\% + \EUR{0,35} \\ \hline 295 GoCardless & 1\% up to a maximum of \pounds 2 \\ \hline 296 Western Union & Variable --- From 5\% up 297 \end{tabular} 298 \end{center} 299 \note{Transaction cost in Taler is $\approx$ \EUR{0.0001} (plus salaries and profits).} 300 \end{frame} 301 302 303 \section{About Us} 304 305 \begin{frame} 306 \frametitle{10. Why now and why us?} 307 \begin{block}{Why now?} 308 {%\tiny 309 \begin{itemize} 310 \item{Chaum's original patents\footnote{\tiny USPTO 5878140, 5781631, 5712913} from 1996-1999 have expired} 311 \item{Increased awareness of issue of privacy in payment systems {\tiny 312 \begin{itemize} 313 \item Contemporary payment systems fail on privacy 314 \item Cash is disappearing 315 \item Alternatives urgently needed 316 \end{itemize}}} 317 \item{Cryptocurrencies threaten control over money supply and tax base of governments} 318 \end{itemize} 319 } 320 \end{block} 321 \begin{block}{Why us?} 322 {%\tiny 323 \begin{itemize} 324 \item{solved (technical) problem of unlinkability} 325 \item{designed a modern, open standards based version} 326 \item{technical expertise to really build it: {\tiny 327 \begin{itemize} 328 \item{15 years of research in network security and privacy} 329 \item{Founder of GNUnet and related projects} 330 \end{itemize}}} 331 \item{good contacts: free software movement, press, academics} 332 \end{itemize} 333 } 334 \end{block} 335 \end{frame} 336 337 338 \begin{frame} 339 \frametitle{9. Team \hfill \& \hfill Advisory Board \hfill} 340 \begin{minipage}{5cm} 341 \setlist[description]{leftmargin=1cm,labelindent=0cm} 342 \begin{description} 343 \item[Leon Schumacher]\ \\ co-founder 344 \item[Dr. Christian Grothoff]\ \\ co-founder 345 \item[Michael Widmer]\ \\ Jurist 346 \item[Dr. Jeff Burdges]\ \\ PostDoc 347 \item[Florian Dold]\ \\ PhD Student 348 \end{description} 349 350 \end{minipage} 351 \begin{minipage}{5.5cm} 352 {\tiny 353 \begin{description} 354 \item[Prof. Mikhail Atallah] \ \\ 355 Cryptographer, co-founder 356 Arxan Technologies Inc. 357 \item[Prof. Roberto Di Cosmo] \ \\ 358 Director IRILL 359 \item[Greg Framke] \ \\ 360 CIO Manulife, \\ 361 former COO Etrade 362 \item[Ante Gulam] \ \\ 363 Global Head of Information Security --- CISO \\ 364 MetaPack Group 365 \item[Dr. Richard Stallman]\ \\ 366 Founder of the \\ \mbox{Free Software movement} 367 \item[Chris Pagett] \ \\ 368 former Group Head Security/ \ \\ 369 Fraud/Geo Risk HSBC 370 \item[Prof. Alex Pentland] \ \\ 371 MIT Media Lab 372 \end{description} 373 } 374 \end{minipage} 375 \vfill 376 \includegraphics[height=0.1\textwidth]{team-images/leon-schumacher.jpg} \hfill 377 \includegraphics[height=0.1\textwidth]{team-images/christian-grothoff.jpg}\hfill 378 \includegraphics[height=0.1\textwidth]{team-images/michael-widmer.jpg}\hfill 379 \includegraphics[height=0.1\textwidth]{team-images/jeff-burdges.jpg}\hfill 380 \includegraphics[height=0.1\textwidth]{team-images/florian-dold.jpg}\hfill 381 \includegraphics[height=0.1\textwidth]{board-images/mja.jpg} \hfill 382 \includegraphics[height=0.1\textwidth]{board-images/roberto-di-cosmo.jpg} \hfill 383 \includegraphics[height=0.1\textwidth]{board-images/greg-framke.jpg} \hfill 384 \includegraphics[height=0.1\textwidth]{board-images/ante-gulam.jpg} \hfill 385 \includegraphics[height=0.1\textwidth]{board-images/alex-pentland.jpg} 386 %\note{Advisory board still under construction.} 387 \end{frame} 388 389 390 \section{Use Cases} 391 392 \begin{frame}{10. Use Case: Consumers} 393 \begin{center} 394 {\bf Why would a consumer adopt Taler?} 395 \end{center} 396 \begin{itemize} 397 \item Convenient: pay with one click instantly 398 \item Guaranteed: no rejection by false-positives in fraud detection 399 \item Secure: like cash, except no counterfeits 400 \item Privacy-preserving: payment requires no personal information 401 \item Stable: no currency fluctuations, pay in traditional currencies 402 \item Free software: no hidden ``gadgets'', third parties can verify 403 \end{itemize} 404 \end{frame} 405 406 \begin{frame}{11. Use Case: Merchants} 407 \begin{center} 408 {\bf Why would a merchant implement Taler?} 409 \end{center} 410 \begin{itemize} 411 \item Instant payments: transactions at Web-speed 412 \item Secure: signed contracts, no legitimate customer rejected by fraud detection 413 \item Free software: competitive pricing and support 414 \item Low fees: efficient protocol + no fraud $=$ low costs 415 \item Flexible: any currency, any amount 416 \item Ethical: no fluctuation risk, no pyramid scheme, not suitable for illegal business 417 \item Legal: complies with Regulation (EU) 2016/679 (GDPR)\footnote{Requires privacy by design and data minimization for all data processing in Europe after 25.5.2018.} 418 \end{itemize} 419 \end{frame} 420 421 422 \begin{frame}{12.1 Use Cases --- Potential Niches for launch} 423 \begin{itemize} 424 \item[1.]{Non-bankable / unbanked people 425 \begin{itemize} 426 \item Children 427 \item Refugees / Displaced population 428 \item Developing markets {\tiny (Africa)} 429 \end{itemize} 430 } 431 \item[2.]{Instant One Click Web purchases 432 \begin{itemize} 433 \item Newspaper articles {\tiny (see Spiegel's LaterPay)} 434 \item Platform provider with exposure risk {\tiny (see Spotify)} 435 \end{itemize} 436 } 437 \item[3.]{Niche Markets 438 \begin{itemize} 439 \item Entertainment \& Media 440 \item Tor users {\tiny (when privacy is required)} 441 \end{itemize} 442 } 443 \item[4.]{Micropayments 444 \begin{itemize} 445 \item Gaming {\tiny (in-game payments)} 446 \item Eliminate spam {\tiny (require payment to display unsolicited e-mails)} 447 \end{itemize} 448 } 449 \end{itemize} 450 \end{frame} 451 452 453 \begin{frame}{12.2 Use Cases --- Potential Niches for launch: Anti-Spam} 454 p$\equiv$p provides authenticated encryption for e-mail: 455 \begin{itemize} 456 \item Free software 457 \item Easy to use opportunistic encryption 458 \item Available for Outlook, Android, Enigmail 459 \item Committed strategic partner 460 \end{itemize} 461 Attach Taler payment to secure e-mail communication channel: 462 \begin{itemize} 463 \item Avoids two-sided market: peer-to-peer payments (this is how PayPal launched) 464 \item If unsolicited sender (i.e. not in address book), hide messages from user 465 automatically request payment from sender 466 \item Sender can attach Taler payment to be moved to inbox 467 \item Receiver can grant refund to sender \\ 468 (Taler still collects applicable transaction fees) 469 \end{itemize} 470 \end{frame} 471 472 473 \begin{frame}{13. Use Cases --- Used in financial model} 474 \begin{itemize} 475 \item Newspaper articles (ex. Spiegel) 476 \item Platform provider with exposure risk (ex. Spotify) 477 \item Entertainment \& Media 478 \item Tor users 479 \end{itemize} 480 \end{frame} 481 482 483 \section{Partners} 484 485 \begin{frame}{14. Partners} 486 \begin{minipage}{5cm} 487 {\bf Research and development:} 488 \begin{center} 489 \includegraphics[height=1cm]{partner-logos/inria.png} 490 \includegraphics[height=1cm]{partner-logos/tum.png} 491 492 \includegraphics[height=1cm]{partner-logos/gnu.jpeg} 493 \includegraphics[height=1cm]{partner-logos/gnunet.jpeg} 494 \end{center} 495 496 \vspace{0.1cm} 497 498 {\bf Business development:} 499 500 \begin{center} 501 \includegraphics[height=1cm]{partner-logos/ashoka.png} 502 \includegraphics[height=1cm]{partner-logos/hl.png} 503 \end{center} 504 505 \vspace{0.1cm} 506 \end{minipage} 507 \hfill 508 \begin{minipage}{5cm} 509 % {\bf Banks (in discussion):} 510 511 % \includegraphics[height=1cm]{partner-logos/hsbc.jpeg} 512 % \includegraphics[height=1cm]{partner-logos/gls-bank.png} 513 % \vfill 514 % \vspace{1cm} 515 516 {\bf Merchants:} 517 518 \includegraphics[height=0.8cm]{partner-logos/dk.png} 519 520 \includegraphics[height=1cm]{partner-logos/spiegel.jpeg} 521 \includegraphics[height=1cm]{partner-logos/heise.png} 522 \vfill 523 \end{minipage} 524 \end{frame} 525 526 527 \begin{frame}{15. Strategic partners for distribution} 528 % \begin{center} 529 \includegraphics[height=1.2cm]{partner-logos/tor.jpeg} \hskip2cm 2+ million daily users (in discussions) 530 \vfill 531 \includegraphics[height=0.8cm]{partner-logos/rff.png} 532 \vfill 533 \includegraphics[height=0.8cm]{partner-logos/pep.pdf} 534 \vfill 535 \includegraphics[height=1cm]{partner-logos/tcij.png} 536 \vfill 537 \includegraphics[height=1cm]{partner-logos/firefox.png} \hskip2cm (in discussions) 538 \vfill 539 %\end{center} 540 \end{frame} 541 542 543 \begin{frame}{16. Next steps} 544 \begin{itemize} 545 \item[1.]{Complete solution in v0.5 (alpha)} 546 \item[2.]{Complete first seed funding round for \EUR{1.5-2m}} 547 \item[3.]{Integrate with one or more distribution channels \\ 548 (Tor browser, Mozilla browser, p$\equiv$p, \ldots)} 549 \item[4.]{Launch successfully in one of the niches 550 \begin{itemize} 551 \item Newspapers 552 \item Entertainment \& Media 553 \item Gaming 554 \item Platform provider under threat from \\ 555 ApplePay, GooglePay, Amazon, \ldots 556 \end{itemize}} 557 \end{itemize} 558 \end{frame} 559 560 561 \section{Risks} 562 \begin{frame}{17. Main Risks} 563 \begin{itemize} 564 \item[1.]{Technical risk --- {\color{green} resolved}} 565 \item[2.]{Cryptographic risk --- {\color{green} resolved}} 566 \item[3.]{Distribution on customer side challenging} 567 \item[4.]{Distribution on merchant side challenging} 568 \item[5.]{Regulator does not approve} 569 \item[6.]{System hacked (by internal admin staff)} 570 \end{itemize} 571 \end{frame} 572 573 574 \begin{frame}{18. Risk Mitigation} 575 \begin{itemize} 576 \item[1.]{Technical risk --- {\color{green} resolved}} 577 \item[2.]{Cryptographic risk --- {\color{green} resolved}} 578 \item[3.]{Distribution on customer side challenging \\ 579 {\color{green} Partner with reach on consumer end}} 580 \item[4.]{Distribution on merchant side challenging \\ 581 {\color{green} Partner with platform merchant, or \\ 582 Partner with large financial service player \\ 583 Focus on e-commerce}} 584 \item[5.]{Regulator does not approve \\ 585 {\color{green} Initial reviews by specialists see no issues \\ 586 Partner with large financial service player}} 587 \item[6.]{System hacked (by internal admin staff) \\ 588 {\color{green} Automated reporting shows maximum exposure \\ 589 Audits conducted regularly \\ 590 Vetting of admin personnel}} 591 \end{itemize} 592 \end{frame} 593 594 595 \begin{frame}{19. Business risks and measures} 596 \begin{center} \tiny 597 \begin{tabular}{p{3cm}|p{3cm}|p{3cm}} 598 {\bf Risk} & {\bf Impact} & {\bf Countermeasure} \\ \hline \hline 599 Usability too low & few users, insufficient income & usability testing \\ \hline 600 Exchange data loss & financial damage & backups \\ \hline 601 Exchange compromise & financial damage & limit loss by key rotation \\ \hline 602 Exchange offline & reputation loss & redundant \mbox{operation} \\ \hline 603 Compliance issues & illegal to operate & work with \mbox{regulators} \\ \hline 604 No bank license & illegal to operate & work with banks \\ 605 \end{tabular} 606 \end{center} 607 \end{frame} 608 609 610 \begin{frame}{20. Recent Press} 611 {\tiny 612 \setlist[description]{leftmargin=1cm,labelindent=0.5cm} 613 \begin{description} 614 \item[09-2015]\ \\ 615 \begin{itemize} 616 \item \url{https://bitcoinmagazine.com/21901/bitcoin-governments-without-privacy-taxes/} 617 \item \url{http://www.heise.de/tp/artikel/46/46089/1.html} 618 \end{itemize} 619 \item[06-2016]\ \\ 620 \begin{itemize} 621 \item \url{http://www.theregister.co.uk/2016/06/06/gnu_cryptocurrency_aims_at_the_mainstream_economy_not_the_black_market/} 622 \item \url{http://www.golem.de/news/halbanonymes-bezahlsystem-gnu-taler-soll-kryptowaehrungen-gerechter-machen-1606-121323.html} 623 \item \url{http://www.heise.de/newsticker/meldung/GNU-Taler-Open-Source-Protokoll-fuer-Zahlungen-in-Version-0-0-0-erschienen-3228525.html} 624 \end{itemize} 625 \item[08-2016]\ \\ 626 \begin{itemize} 627 \item \url{https://www.theguardian.com/technology/2016/sep/01/online-publishers-readers-ad-block-surveillance-donate-anonymously} 628 \end{itemize} 629 \item[02-2017]\ \\ 630 \begin{itemize} 631 \item \url{http://hackerpublicradio.org/eps.php?id=2222} 632 \end{itemize} 633 \end{description} 634 } 635 \begin{center} 636 Complete list at \url{https://taler.net/press} 637 \end{center} 638 \end{frame} 639 640 641 \begin{frame}{Contact details} 642 \begin{center} 643 \begin{tabular}{p{5cm}p{5cm}} 644 % {\bf CEO} & {\bf CTO} \\ & \\ 645 Leon Schumacher & Dr. Christian Grothoff \\ 646 {\tt leon@taler.net} & {\tt christian@taler.net} \\ 647 +41-79-865-9365 & +33-2-99-84-71-45 \\ 648 % \url{http://taler.net/ceo/} & \url{http://taler.net/cto/} \\ 649 \end{tabular} 650 651 \vspace{2cm} 652 \url{https://www.taler.net/} 653 \end{center} 654 \end{frame} 655 656 657 \begin{frame} 658 \begin{center} 659 \includegraphics[width=0.66\textwidth]{taler-logo-2017.pdf} 660 \end{center} 661 \end{frame} 662 663 664 \begin{frame}{Potential Synergies between Taler and Blockchains} 665 \begin{block}{What can Blockchains do for Taler?} 666 Taler cannot cryptographically prove the {\bf timing} of 667 transactions. Using a blockchain for {\bf timestamping} would 668 allow GNU Taler to provide hard proof of {\bf when} a payment 669 happened. 670 \end{block} 671 \begin{block}{What can Taler do for Blockchains?} 672 Blockchains have inherently high transaction {\bf costs} and little 673 {\bf privacy}. Taler can operate as a {\bf side-chain}, providing 674 enhanced privacy and {\bf performance} for crypto currencies. 675 \end{block} 676 \end{frame} 677 678 679 \begin{frame}{License model} 680 \begin{center} 681 \begin{tabular}{p{2cm}|c|p{5.5cm}} 682 {\bf Component} & {\bf License} & {\bf Why?} \\ \hline \hline 683 Exchange & Affero GPL & competitors must share \mbox{extensions} \\ \hline 684 Wallets & GPLv3+ & enable community development \\ \hline 685 Merchant & Lesser GPL & maximize market adoption \\ 686 \end{tabular} 687 \end{center} 688 \end{frame} 689 690 \end{document} 691 692 693 694 695 \section{Next steps} 696 \begin{frame}{16. Next steps in development and timeline} 697 698 \definecolor{barblue}{RGB}{153,204,254} 699 \definecolor{groupblue}{RGB}{51,102,254} 700 \definecolor{donegreen}{RGB}{0,255,0} 701 \definecolor{linkred}{RGB}{165,0,33} 702 \renewcommand\sfdefault{phv} 703 \renewcommand\mddefault{mc} 704 \renewcommand\bfdefault{bc} 705 \sffamily 706 \begin{ganttchart}[ 707 time slot format=isodate, % format for dates, YYYY-MM-DD 708 canvas/.append style={fill=none, draw=black!5, line width=.75pt}, 709 hgrid style/.style={draw=black!5, line width=.75pt}, 710 vgrid={*1{draw=black!5, line width=.75pt}}, 711 today=2017-5-26, % Important: must match \today below! 712 today label=\today, % render date when presentation was compiled here 713 today rule/.style={ 714 draw=black!64, 715 dash pattern=on 3.5pt off 4.5pt, 716 line width=1.5pt 717 }, 718 x unit = 0.9pt, % how wide is one day? Scaled so that 9 months fit the window 719 y unit chart = 0.6cm, % height of a bar in the chart 720 y unit title = 1cm, % height of the title bar 721 today label font=\small\bfseries, 722 title/.style={draw=none, fill=none}, 723 title label font=\bfseries\footnotesize, 724 title label node/.append style={below=7pt}, 725 include title in canvas=false, 726 bar label font=\mdseries\small\color{black!70}, 727 bar label node/.append style={left=2cm}, 728 bar/.append style={draw=none, fill=donegreen}, % color of progress bar when done 729 bar incomplete/.append style={fill=barblue}, % color of progress bar not yet done 730 bar progress label font=\mdseries\footnotesize\color{black!70}, 731 group incomplete/.append style={fill=groupblue}, 732 group left shift=0, 733 group right shift=0, 734 group height=0.5, 735 group peaks tip position=0, 736 group label node/.append style={left=.6cm}, 737 group progress label font=\bfseries\small, 738 group/.append style={draw=none, fill=donegreen}, % black!63}, 739 link/.style={-latex, line width=1.5pt, linkred}, 740 link label font=\scriptsize\bfseries, 741 link label node/.append style={below left=-2pt and 0pt} 742 ]{2017-4-1}{2018-1-1} 743 \gantttitle[ 744 title label node/.append style={below left=7pt and -3pt} 745 ]{Month: \qquad 3}{9} % We show 9 months, start at '3' 746 \gantttitlelist{4,...,12}{31} \\ % a month has ~31 days (tss per label given) 747 \ganttgroup[progress=95]{v0.3}{2017-4-1}{2017-5-31} \\ 748 \ganttgroup[progress=10]{v0.4}{2017-6-1}{2017-6-31} \\ 749 \ganttgroup[progress=0, 750 progress label text={}]{v0.5}{2017-7-1}{2017-8-31} \\ 751 \ganttgroup[progress=0, 752 progress label text={}]{v0.6}{2017-9-1}{2017-11-1} \\ 753 \ganttgroup[progress=0, 754 progress label text={}]{v0.7}{2017-11-2}{2017-12-31} 755 \end{ganttchart} 756 757 Development details can be found under: 758 {\color{blue} \url{https://gnunet.org/bugs/roadmap_page.php}} \\ 759 Demo of real system: {\color{blue} \url{https://demo.taler.net/}} 760 761 \vfill 762 {\bf Resources:} Currently development is funded until late 2017 763 \end{frame} 764 765 766 \begin{frame}{17. Efforts needed to reach v0.7} 767 % \begin{center} 768 \begin{tabular}{rp{7.5cm}cr} 769 1. & Support refunds from merchant & - & 2 PM \\ 770 2. & Support refunds from (bankrupt) PSP & - & 2 PM \\ 771 3. & X.509 integration of merchant keys & - & 1 PM \\ 772 4. & Performance tuning & - & 4 PM \\ 773 5. & Extensive testing incl. fault injection & - & 6 PM \\ 774 6. & Documentation, minor features & - & 6 PM 775 \end{tabular} 776 % \end{center} 777 778 \vfill 779 780 21 PM $\times$ \EUR{6k/month} $=$ \EUR{126k} \\ 781 782 {\bf Budget envelope: \EUR{150-200k}} 783 784 \vfill 785 {\tiny 786 787 \noindent 788 PSP $=$ Payment Service Provider / Exchange \\ 789 \noindent 790 PM $=$ Person month 791 } 792 \end{frame} 793 794 795 \begin{frame}{18. Efforts for other critical elements} 796 % \begin{center} 797 \begin{tabular}{rp{7.5cm}cr} 798 1. & Wallet backup and cross-device synchronization & - & 4 PM \\ 799 2. & Wallet App for Android & - & 18 PM \\ 800 3. & Wallet App for iOS & - & 18 PM \\ 801 4. & Translation of user interfaces & - & 3 PM \\ 802 \\ 803 5. & External security audit & - & \EUR{100k} 804 \end{tabular} 805 % \end{center} 806 807 \vfill 808 809 \begin{tabular}{lcr} 810 43 PM $\times$ \EUR{6k/month} & $=$ & \EUR{256k} \\ 811 External audit & $=$ & \EUR{100k} \\ 812 {\bf Budget envelope:} & & {\bf \EUR{360-400k}} 813 \end{tabular} 814 \vfill 815 \end{frame} 816 817 818 \begin{frame}{19. Extra efforts needed for refugee scenario\footnote{Optional special case}} 819 % \begin{center} 820 \begin{tabular}{rp{7.5cm}cr} 821 1. & Shop App for Android & - & 12 PM \\ 822 2. & Shop App for iOS & - & 12 PM \\ 823 3. & Simplify exchange installation & - & 2 PM \\ 824 4. & Stand-alone basic-income bank & - & 6 PM \\ 825 5. & Translate Taler operator manuals & - & 2 PM \\ 826 6. & Network-challenged backup procedures & - & 3 PM \\ 827 \end{tabular} 828 % \end{center} 829 830 \vfill 831 832 \begin{tabular}{lcr} 833 27 PM $\times$ \EUR{6k/month} & $=$ & \EUR{222k} \\ 834 {\bf Budget envelope:} & & {\bf \EUR{250-280k}} 835 \end{tabular} 836 \end{frame} 837 838 839 \begin{frame}{20. Sizing of Seed Round} 840 % \begin{center} 841 \begin{tabular}{rp{7.5cm}r} 842 1. & Development / Programming & \EUR{600k} \\ 843 2. & GoToMarket and Partner Sign-up & \EUR{350k} \\ 844 3. & Integration efforts with merchants & \EUR{225k} \\ 845 4. & Administrative \& Overhead & \EUR{325k} \\ 846 \\ 847 \\ 848 & {\bf Size of seed round (until 12/2018):} & \EUR{1.5m} \\ 849 & {\bf Time line:} & Q4 2017 \\ 850 \\ 851 & (Special optional refugee addition & \EUR{300k}) \\ 852 \end{tabular} 853 % \end{center} 854 \end{frame} 855 856 857 858 \section{Financials} 859 860 \begin{frame}{Balance Sheet: Year 1, 2, 3 (kEUR)} 861 \scalebox{0.8}{ 862 \tiny 863 \begin{tabular}{l|r|r|r|c|l|r|r|r} 864 & Year 1 & Year 2 & Year 3 & & & Year 1 & Year 2 & Year 3 \\ \hline 865 {\bf Fixed assets} & & & & & {\bf Equity} & & & \\ \hline 866 Incorporation costs & 5 & 4 & 3 & & Share capital & 45 & 45 & 45 \\ \hline 867 Intangible assets & 16 & 63 & 40 & & Share premium & 5'350 & 10'350 & 10'350 \\ \hline 868 Tangible assets & 20 & 44 & 68 & & Reserves & & & \\ \hline 869 Financial assets & 0 & 0 & 0 & & Retained earnings & 0 & -1'477 & -4'987 \\ \hline 870 {\bf Current assets} & & & & & Profit/loss for the year & -1'477 & -3'510 & -1'500 \\ \hline 871 Inventory & & & & & Provisions & 0 & 23 & 168 \\ \hline 872 Accounts receivable (clients) & & 30 & 200 & & {\bf Long-term debts $>$ 1 year} & & & \\ \hline 873 Accounts receivable (affiliated) & & & & & Bank loans & 0 & 0 & 0 \\ \hline 874 Other current assets & & & & & Accounts payable (affiliated) & 0 & 0 & 0 \\ \hline 875 Cash in bank & 3'898 & 5'364 & 3'840 & & {\bf Short-term debts $<$ 1 year} & & & \\ \hline 876 & & & & & Bank loans & 0 & 0 & 0 \\ \hline 877 & & & & & Accounts payable (suppliers) & 0 & 0 & 0 \\ \hline 878 & & & & & Fiscal and social debt & 21 & 74 & 75 \\ \hline 879 & & & & & Accounts payable (affiliated) & 0 & 0 & 0 \\ \hline 880 & & & & & Other liabilities & 0 & 0 & 0 \\ \hline 881 {\bf TOTAL ASSETS} & 3'939 & 5'505 & 4'151 & & {\bf TOTAL EQUITY + LIABILITIES} & 3'939 & 5'505 & 4'151 \\ 882 \end{tabular}} 883 \vfill 884 \begin{center} 885 Projections for years 4--6 available upon request. 886 \end{center} 887 \end{frame} 888 889 890 \begin{frame}{Income Statement: Year 1, 2, 3 (kEUR)} 891 \small 892 \begin{tabular}{l|r|r|r} 893 {\bf Profit or loss} & Year 1 & Year 2 & Year 3 \\ \hline 894 & & & \\ \hline 895 Turnover & 0 & 129 & 2'520 \\ \hline 896 Other operating income & 0 & 0 & 0 \\ \hline 897 Cost of goods sold & 0 & 0 & 0 \\ \hline 898 Personnel costs & -1'066 & -2'804 & -3'085 \\ \hline 899 Value adjustments & 0 & 0 & 0 \\ \hline 900 Other operating charges & -412 & -835 & -935 \\ \hline 901 {\bf Operating result} & -1'477 & -3'510 & -1'500 \\ \hline 902 Interest \& similar income & 0 & 0 & 0 \\ \hline 903 Interest \& similar charges & 0 & 0 & 0 \\ \hline 904 {\bf Financial result} & 0 & 0 & 0 \\ \hline 905 {\bf Result from ord. act. before taxation} & -1'477 & -3'510 & -1'500 \\ \hline 906 Extraordinary income & 0 & 0 & 0 \\ \hline 907 Extraordinary expenses & 0 & 0 & 0 \\ \hline 908 {\bf Extraordinary result} & 0 & 0 & 0 \\ \hline 909 Taxes & 0 & 0 & 0 \\ \hline 910 {\bf Profit or loss fiscal year} & -1'477 & -3'510 & -1'500 \\ \hline 911 \end{tabular} 912 \end{frame} 913 914 915 \begin{frame}{Cashflow Statement: Quarter 1 to 12 (kEUR)} 916 \scalebox{0.7}{ 917 \tiny 918 \begin{tabular}{l|c|r|r|r|r|r|r|r|r|r|r|r|r} 919 {\bf Cash flow (Q1-Q12)} & & Q1 & Q2 & Q3 & Q4 & Q5 & Q6 & Q7 & Q8 & Q9 & Q10 & Q11 & Q12 \\ \hline 920 & & & & & & & & & & & & & \\ \hline 921 {\bf Beginning Cash Balance ($A$)} & & 0 & 298 & 5'065 & 4'561 & 3'898 & 3'084 & 2'214 & 1'263 & 5'364 & 4'633 & 4'107 & 3'794 \\ \hline 922 {\bf Cash Inflows} & & & & & & & & & & & & & \\ \hline 923 Turnover (inc VAT) & & 0 & 0 & 0 & 0 & 0 & 2 & 7 & 120 & 300 & 480 & 690 & 1'050 \\ \hline 924 R\&D subsidy & & 0 & 0 & 0 & 0 & 0 & 0 & 0 & 0 & 0 & 0 & 0 & 0 \\ \hline 925 Initial capital & & 45 & 0 & 0 & 0 & 0 & 0 & 0 & 0 & 0 & 0 & 0 & 0 \\ \hline 926 Capital contribution/Loans & & 350 & 5'000 & 0 & 0 & 0 & 0 & 0 & 5'000 & 0 & 0 & 0 & 0 \\ \hline 927 Other income & & 0 & 0 & 0 & 0 & 0 & 0 & 0 & 0 & 0 & 0 & 0 & 0 \\ \hline 928 & & & & & & & & & & & & & \\ \hline 929 Total Cash Inflows ($B$) & & 395 & 5'000 & 0 & 0 & 0 & 2 & 7 & 5'120 & 300 & 480 & 690 & 1'050 \\ \hline 930 {\bf Cash Outflows} & & & & & & & & & & & & & \\ \hline 931 Personnel costs & & 47 & 128 & 373 & 518 & 644 & 685 & 712 & 763 & 776 & 770 & 770 & 770 \\ \hline 932 External costs & & 20 & 49 & 37 & 64 & 69 & 72 & 72 & 76 & 75 & 57 & 57 & 57 \\ \hline 933 & & & & & & & & & & & & & \\ \hline 934 Investments & & 2 & 6 & 6 & 6 & 6 & 6 & 6 & 6 & 6 & 6 & 6 & 6 \\ \hline 935 Other expenses & & 28 & 88 & 88 & 76 & 95 & 109 & 168 & 174 & 174 & 173 & 171 & 171 \\ \hline 936 & & & & & & & & & & & & & \\ \hline 937 Total Cash Outflows ($C$) & & 97 & 503 & 503 & 664 & 814 & 872 & 958 & 1'019 & 1'031 & 1'006 & 1'004 & 1'004 \\ \hline 938 Ending Cash Balance ($A+B-C$) & & 298 & 4'561 & 4'561 & 3'898 & 3'084 & 2'214 & 1'263 & 5'364 & 4'633 & 4'107 & 3'794 & 3'840 \\ 939 \end{tabular} 940 } 941 \end{frame} 942 943 944 \begin{frame} 945 \begin{center} 946 \includegraphics[width=0.66\textwidth]{taler-logo-2017.pdf} 947 \end{center} 948 \end{frame} 949 950 951 \end{document}