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[GNUnet-SVN] [taler-marketing] branch master updated: update 2018
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gnunet |
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Subject: |
[GNUnet-SVN] [taler-marketing] branch master updated: update 2018 |
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Date: |
Thu, 18 Jan 2018 12:36:30 +0100 |
This is an automated email from the git hooks/post-receive script.
grothoff pushed a commit to branch master
in repository marketing.
The following commit(s) were added to refs/heads/master by this push:
new dbc87b0 update 2018
dbc87b0 is described below
commit dbc87b07bef420c6b58174ff4fb0ffc7249c1907
Author: Christian Grothoff <address@hidden>
AuthorDate: Thu Jan 18 12:36:16 2018 +0100
update 2018
---
presentations/investors/investors2018.tex | 975 ++++++++++++++++++++++++++++++
1 file changed, 975 insertions(+)
diff --git a/presentations/investors/investors2018.tex
b/presentations/investors/investors2018.tex
new file mode 100644
index 0000000..bf5d27a
--- /dev/null
+++ b/presentations/investors/investors2018.tex
@@ -0,0 +1,975 @@
+\documentclass[c]{beamer}
+
+%\usepackage{helvet}
+\usepackage{calc}
+\usepackage[utf8]{inputenc} % set your input encoding differently, if you want
+\usepackage[english]{babel}
+
+\usepackage{enumitem}
+\usepackage{eurosym}
+\usepackage{tikz}
+\usepackage{pgfgantt}
+\usepackage{amsmath,amssymb}
+\usetikzlibrary{shapes,arrows}
+\usetikzlibrary{positioning}
+\usetikzlibrary{calc}
+\usepackage[absolute,overlay]{textpos}
+
+%\setbeameroption{show notes}
+
+\setlist[itemize]{label=$\bullet$}
+
+
+\def\checkmark{\tikz\fill[scale=0.4](0,.35) -- (.25,0) -- (1,.7) -- (.25,.15)
-- cycle;}
+
+\setbeamercovered{transparent=10}
+ \setbeamertemplate{navigation symbols}{Presentation --- Taler Systems S.A.
--- \today --- Page \insertpagenumber}
+\setbeamertemplate{section in toc}[sections numbered]
+
+% Adapt title information
+% =======================
+\title{Taler Systems S.A. \\ {\small {\bf T}axable {\bf A}nonymous {\bf L}ibre
{\bf E}lectronic {\bf R}eserves}}
+\institute{Instant one click payments}
+\author{Christian Grothoff \& Leon Schumacher}
+\date{\today}
+
+% Some common packages
+% ====================
+\usepackage{units}
+\usepackage{amsbsy}
+\usepackage{amsmath}
+\usepackage{amssymb}
+\usepackage{graphics}
+\usepackage{epsf}
+\usepackage{epsfig}
+\usepackage{fixmath}
+\usepackage{wrapfig}
+
+
+ \usetikzlibrary{snakes}
+
+
+\begin{document}
+
+\begin{frame}
+ \titlepage
+
+%{\tiny
+%``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)}
+\end{frame}
+
+\begin{frame}{Agenda}
+ \tableofcontents
+\end{frame}
+
+\section{Unique sales propositions}
+\begin{frame}{1. Unique sales propositions (USPs)}
+ \begin{itemize}
+ \item Instant one click payments
+ \item Privacy for spender from payment system provider
+ \item No Fraud (compared to credit card online payments)
+ \item No authentication needed for payment
+ \item Micropayments possible
+ \item Low transaction costs
+ \item Open
+ \item Scalable
+ \item Transparent
+ \end{itemize}
+\end{frame}
+
+
+\section{The problem}
+\begin{frame}{2.1. The problem}
+
+ 3D secure (``verified by visa'') is a nightmare:
+ \begin{minipage}{5cm}
+ \begin{itemize}
+ \item Complicated process
+ \item Shifts liability to consumer
+ \item Significant latency
+ \item Can refuse valid requests
+ \item Legal vendors excluded
+ \item No privacy for buyers
+ \end{itemize}
+ \end{minipage}
+ \begin{minipage}{5cm}
+ \includegraphics[width=\textwidth]{illustrations/cc3ds.pdf}
+ \end{minipage}
+ Cryptographers' paper on 3DS:
+ \begin{center}
+ ``Verified by Visa and MasterCard SecureCode:
+ Or, How Not to Design Authentication''
+ \end{center}
+ Online credit card payments will be replaced, but with what?
+\end{frame}
+
+
+\begin{frame}{2.2. The problem}
+\vfill
+ \begin{textblock*}{6cm}(0.5cm,1cm) % {block width} (coords)
+ \begin{itemize}
+ \item Global tech companies push oligopolies
+ \item Privacy and federated finance are at risk
+ \item 30\% fees are conceivable
+ \item Economic sovereignty is in danger
+ \end{itemize}
+\end{textblock*}
+\begin{textblock*}{4cm}(9.5cm,3.2cm) % {block width} (coords)
+ {\includegraphics[width=\textwidth]{competitor-logos/amazon.png}}
+\end{textblock*}
+\begin{textblock*}{2cm}(7cm,1cm) % {block width} (coords)
+ {\includegraphics[width=\textwidth]{competitor-logos/alipay.jpeg}}
+\end{textblock*}
+\begin{textblock*}{2cm}(9cm,0.5cm) % {block width} (coords)
+ {\includegraphics[width=\textwidth]{competitor-logos/paypal.jpeg}}
+\end{textblock*}
+\begin{textblock*}{2cm}(9cm,2cm) % {block width} (coords)
+ {\includegraphics[width=\textwidth]{competitor-logos/applepay.jpeg}}
+\end{textblock*}
+\begin{textblock*}{2cm}(7.5cm,2.9cm) % {block width} (coords)
+ {\includegraphics[width=\textwidth]{competitor-logos/samsungpay.jpeg}}
+\end{textblock*}
+\begin{textblock*}{1cm}(9.5cm,3.3cm) % {block width} (coords)
+ {\includegraphics[width=\textwidth]{competitor-logos/android_pay.png}}
+\end{textblock*}
+\vfill
+\end{frame}
+
+
+
+\begin{frame}{2.3. The Problem}
+
+ \begin{block}{European alternatives are low-tech:}
+ {\includegraphics[width=2cm]{competitor-logos/laterpay.jpeg}}
+ {\includegraphics[width=2cm]{competitor-logos/sofortueberweisung.jpeg}}
+ {\includegraphics[width=2cm]{competitor-logos/paydirect.jpeg}}
+ \end{block}
+\begin{block}{European regulation requires high-tech:}
+ \begin{center}
+ \includegraphics[width=2cm]{illustrations/ec.png}
+
+ AML, KYC, {\bf GDPR}
+ \end{center}
+\end{block}
+\end{frame}
+
+
+\section{What is Taler?}
+\begin{frame}{3.1. What is Taler?}
+ \vfill
+ \begin{center}
+Taler is an electronic instant payment system.
+ \end{center}
+ \begin{itemize}
+ \item Pay in existing currencies (i.e. EUR, USD)
+ \item Uses electronic coins stored in wallets on customer's device
+ \end{itemize}
+ \vfill
+\end{frame}
+
+
+\begin{frame}
+\frametitle{3.2. What is Taler?}
+\begin{center}
+ \includegraphics[width=0.9\textwidth]{illustrations/taler-arch-full.pdf}
+
+ $\Rightarrow$ Convenient, taxable, privacy-enhancing, \& resource friendly!
+\end{center}
+\end{frame}
+
+
+\begin{frame}{4.1. Advantages of Taler}
+ \begin{itemize}
+ \item{All operations provide cryptographically secured, mathematical
proofs for courts \& auditors}
+ \item{Customer can remain anonymous
+ \begin{itemize}
+ \item retain civil liberties in increasingly cash-less world
+ \item eliminates costly customer authentication
+ \item no credit card number theft possible
+ \item merchants do not need to operate expensive certified equipment
\& processes (PCI DSS, etc.)
+ \item Taler can give change and refunds, even to anonymous customers
+ \end{itemize}}
+ \item{Merchants are identifiable in each payment they receive
+ \begin{itemize}
+ \item bad for illegal business
+ \item no tax evasion
+ \end{itemize}}
+ \end{itemize}
+\end{frame}
+
+
+\begin{frame}{4.2. Advantages of Taler}
+ \begin{itemize}
+ \item{Payments in existing currencies, does not introduce any new
currency
+ \begin{itemize}
+ \item financial stability, no risks from currency fluctuation
+ \item payment system, not speculative investment
+ \end{itemize}}
+ \item{Scalable, fast protocol implementation
+ \begin{itemize}
+ \item low transaction costs (in terms of computation at high volume)
+ \end{itemize}}
+ \item{Open standard protocol without patents with free reference
implementations
+ \begin{itemize}
+ \item low barrier to entry for new merchants
+ \item governments may adopt as part of digital sovereignty agenda
+ \end{itemize}}
+ \end{itemize}
+\end{frame}
+
+
+\begin{frame}{5. Social impact of Taler}
+ \begin{center}
+ \includegraphics[height=0.8\textheight]{../../social-impact.pdf}
+ \end{center}
+\end{frame}
+
+
+
+\section{Operating model}
+
+\begin{frame}{6. Operating model}
+ \begin{center}
+\includegraphics[width=\textwidth]{illustrations/operating-model.pdf}
+ \end{center}
+ \note{Operator charges transaction fees.
+ Taler Systems develops core technology and provides
+ certification, default selection, support and
+ trademark use to payment service providers.
+
+ In return, payment service providers contribute
+ financially to Taler Systems S.A.}
+\end{frame}
+
+
+\section{The market}
+% FIXME: update, include Visa/Master/PayPal, AliPay in particular!
+% FIXME: render more nicely?
+\begin{frame}{7. The market}
+ \begin{textblock*}{0.6\textwidth}(1cm,5cm) % {block width} (coords)
+ \includegraphics[width=\textwidth]{payment_solutions.png}
+\end{textblock*}
+\begin{textblock*}{0.6\textwidth}(5.5cm,1cm) % {block width} (coords)
+ \includegraphics[width=\textwidth]{payment_volume.png}
+\end{textblock*}
+\note{The market is big.}
+\end{frame}
+
+
+\section{Competitors}
+\begin{frame}{8. Competitor comparison}
+ \begin{center} \small
+ \begin{tabular}{l||c|c|c|c|c}
+ & Cash & Bitcoin & Zerocoin & Creditcard & GNU Taler \\ \hline
\hline
+ Online &$-$$-$$-$ & ++ & ++ & + & +++ \\ \hline
+ Offline & +++ & $-$$-$ & $-$$-$ & + & $-$$-$
\\ \hline
+ Trans. cost & + & $-$$-$$-$ & $-$$-$$-$ & $-$ & ++ \\
\hline
+ Speed & + & $-$$-$$-$ & $-$$-$$-$ & o & ++ \\
\hline
+ Taxation & $-$ & $-$$-$ & $-$$-$$-$ & +++ & +++ \\
\hline
+ Payer-anon & ++ & o & ++ & $-$$-$$-$ & +++ \\ \hline
+ Payee-anon & ++ & o & ++ & $-$$-$$-$ & $-$$-$$-$ \\
\hline
+ Security & $-$ & o & o & $-$$-$ & ++ \\
\hline
+ Conversion & +++ & $-$$-$$-$ & $-$$-$$-$ & +++ & +++ \\
\hline
+ Libre & $-$ & +++ & +++ & $-$ $-$ $-$ & +++ \\
+ \end{tabular}
+ \end{center}
+ \note{Not having payee-anonymity is a good thing as otherwise money
laundering
+ becomes a real problem.}
+\end{frame}
+
+
+\begin{frame}{9. Payment solutions - pricing}
+ % FIXME: Konkrete Zahlen fuer Beispieltransaktionen
+ \begin{center}
+ \begin{tabular}{l||c}
+ {\bf Provider} & {\bf Pricing} \\ \hline \hline
+ Alipay & 2,0\% - 3,0\% \\ \hline
+ Allied Wallet & 1,95\% + \$ 0,20 \\ \hline
+ Amazon Payments & 2,9\% + \$ 0,30 \\ \hline
+ Avangate & 4,9\% + \$ 2,50 \\ \hline
+ Billpro & 2,1\% + 3,5\% fee \\ \hline
+ BitGold Inc. & 1\% fee on every purchase \\ \hline
+ Bitpay (Bitcoin)& 0\% \\ \hline
+ Checkout.com & 2,95\% - 3,95\% + \pounds 0,15 \\ \hline
+ Coinify (Bitcoin) & 0\% \\ \hline
+ eComCharge & 3,5\% + \EUR{0,35} \\ \hline
+ GoCardless & 1\% up to a maximum of \pounds 2 \\ \hline
+ Western Union & Variable --- From 5\% up
+ \end{tabular}
+ \end{center}
+ \note{Transaction cost in Taler is $\approx$ \EUR{0.0001} (plus salaries and
profits).}
+\end{frame}
+
+
+\section{About us}
+
+\begin{frame}
+ \frametitle{10. Why now and why us?}
+ \begin{block}{Why now?}
+ {%\tiny
+ \begin{itemize}
+ \item{Chaum's original patents\footnote{\tiny USPTO 5878140, 5781631,
5712913} from 1996-1999 have expired}
+ \item{Increased awareness of issue of privacy in payment systems {\tiny
+ \begin{itemize}
+ \item Contemporary payment systems fail on privacy
+ \item Cash is disappearing
+ \item Alternatives urgently needed
+ \end{itemize}}}
+ \item{Cryptocurrencies threaten control over money supply and tax base of
governments}
+ \end{itemize}
+ }
+ \end{block}
+ \begin{block}{Why us?}
+ {%\tiny
+ \begin{itemize}
+ \item{solved (technical) problem of unlinkability}
+ \item{designed a modern, open standards based version}
+ \item{technical expertise to really build it}
+% : {\tiny
+% \begin{itemize}
+% \item{15 years of research in network security and privacy}
+% \item{Founder of GNUnet and related projects}
+% \end{itemize}}}
+ \item{good contacts: free software movement, press, academics}
+ \end{itemize}
+ }
+\end{block}
+\end{frame}
+
+
+\begin{frame}
+ \frametitle{9. Team \hfill \& \hfill advisory board \hfill}
+ \begin{minipage}{5cm}
+ \setlist[description]{leftmargin=1cm,labelindent=0cm}
+ \begin{description}
+ \item[Leon Schumacher]\ \\ co-founder
+ \item[Dr. Christian Grothoff]\ \\ co-founder
+ \item[Michael Widmer]\ \\ Jurist
+ \item[Dr. Jeff Burdges]\ \\ PostDoc
+ \item[Florian Dold]\ \\ PhD Student
+ \end{description}
+
+\end{minipage}
+ \begin{minipage}{5.5cm}
+ {\tiny
+\begin{description}
+ \item[Prof. Mikhail Atallah] \ \\
+ Cryptographer, co-founder
+ Arxan Technologies Inc.
+ \item[Prof. Roberto Di Cosmo] \ \\
+ Director IRILL
+ \item[Greg Framke] \ \\
+ CIO Manulife, \\
+ former COO Etrade
+ \item[Ante Gulam] \ \\
+ Global Head of Information Security --- CISO \\
+ MetaPack Group
+ \item[Dr. Richard Stallman]\ \\
+ Founder of the \\ \mbox{Free Software movement}
+ \item[Chris Pagett] \ \\
+ former Group Head Security/ \ \\
+ Fraud/Geo Risk HSBC
+ \item[Prof. Alex Pentland] \ \\
+ MIT Media Lab
+\end{description}
+}
+\end{minipage}
+\vfill
+\includegraphics[height=0.1\textwidth]{team-images/leon-schumacher.jpg}
\hfill
+\includegraphics[height=0.1\textwidth]{team-images/christian-grothoff.jpg}\hfill
+\includegraphics[height=0.1\textwidth]{team-images/michael-widmer.jpg}\hfill
+\includegraphics[height=0.1\textwidth]{team-images/jeff-burdges.jpg}\hfill
+\includegraphics[height=0.1\textwidth]{team-images/florian-dold.jpg}\hfill
+\includegraphics[height=0.1\textwidth]{board-images/mja.jpg} \hfill
+\includegraphics[height=0.1\textwidth]{board-images/roberto-di-cosmo.jpg}
\hfill
+\includegraphics[height=0.1\textwidth]{board-images/greg-framke.jpg} \hfill
+\includegraphics[height=0.1\textwidth]{board-images/ante-gulam.jpg} \hfill
+\includegraphics[height=0.1\textwidth]{board-images/alex-pentland.jpg}
+%\note{Advisory board still under construction.}
+\end{frame}
+
+
+\section{Use cases}
+
+\begin{frame}{10. Use case: consumers}
+ \begin{center}
+ {\bf Why would a consumer adopt Taler?}
+ \end{center}
+ \begin{itemize}
+ \item Convenient: pay with one click instantly
+ \item Guaranteed: no rejection by false-positives in fraud detection
+ \item Secure: like cash, except no counterfeits
+ \item Privacy-preserving: payment requires no personal information
+ \item Stable: no currency fluctuations, pay in traditional currencies
+ \item Free software: no hidden ``gadgets'', third parties can verify
+ \end{itemize}
+\end{frame}
+
+\begin{frame}{11. Use case: merchants}
+ \begin{center}
+ {\bf Why would a merchant implement Taler?}
+ \end{center}
+ \begin{itemize}
+ \item Instant payments: transactions at Web-speed
+ \item Secure: signed contracts, no legitimate customer rejected by fraud
detection
+ \item Free software: competitive pricing and support
+ \item Low fees: efficient protocol + no fraud $=$ low costs
+ \item Flexible: any currency, any amount
+ \item Ethical: no fluctuation risk, no pyramid scheme, not suitable for
illegal business
+ \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.}
+ \end{itemize}
+\end{frame}
+
+
+\begin{frame}{12.1 Use cases --- potential niches for launch}
+ \begin{itemize}
+ \item[1.]{Non-bankable / unbanked people
+ \begin{itemize}
+ \item Children
+ \item Refugees / Displaced population
+ \item Developing markets {\tiny (Africa)}
+ \end{itemize}
+ }
+ \item[2.]{Instant one click Web purchases
+ \begin{itemize}
+ \item Newspaper articles {\tiny (see Spiegel's LaterPay)}
+ \item Platform provider with exposure risk {\tiny (see Spotify)}
+ \end{itemize}
+ }
+ \item[3.]{Niche markets
+ \begin{itemize}
+ \item Entertainment \& Media
+ \item Tor users {\tiny (when privacy is required)}
+ \item Bitcoin payments
+ \end{itemize}
+ }
+ \item[4.]{Micropayments
+ \begin{itemize}
+ \item Gaming {\tiny (in-game payments)}
+ \item Eliminate spam {\tiny (require payment to display unsolicited
e-mails)}
+ \end{itemize}
+ }
+ \end{itemize}
+\end{frame}
+
+
+\begin{frame}{12.2 Use cases --- potential niches for launch: Anti-Spam}
+ p$\equiv$p provides authenticated encryption for e-mail:
+ \begin{itemize}
+ \item Free software
+ \item Easy to use opportunistic encryption
+ \item Available for Outlook, Android, Enigmail
+ \item Committed strategic partner
+ \end{itemize}
+ Attach Taler payment to secure e-mail communication channel:
+ \begin{itemize}
+ \item Avoids two-sided market: peer-to-peer payments (this is how PayPal
launched)
+ \item If unsolicited sender (i.e. not in address book), hide messages from
user
+ automatically request payment from sender
+ \item Sender can attach Taler payment to be moved to inbox
+ \item Receiver can grant refund to sender \\
+ (Taler still collects applicable transaction fees)
+ \end{itemize}
+\end{frame}
+
+
+\begin{frame}{13. Taler and Blockchains}
+ \begin{block}{What can Taler do for Blockchains?}
+ Blockchains have inherently high transaction {\bf costs} and little
+ {\bf privacy}. Taler can operate as a {\bf side-chain}, providing
+ enhanced privacy and {\bf performance} for crypto currencies.
+ \end{block}
+ \begin{block}{What can Blockchains do for Taler?}
+ Taler cannot cryptographically prove the {\bf timing} of
+ transactions. Using a blockchain for {\bf timestamping} would
+ allow GNU Taler to provide hard proof of {\bf when} a payment
+ happened.
+ \end{block}
+\end{frame}
+
+
+%\begin{frame}{13. Use Cases --- Used in financial model}
+% \begin{itemize}
+% \item Newspaper articles (ex. Spiegel)
+% \item Platform provider with exposure risk (ex. Spotify)
+% \item Entertainment \& Media
+% \item Tor users
+% \end{itemize}
+%\end{frame}
+
+
+\section{Partners}
+
+\begin{frame}{14. Partners}
+ \begin{minipage}{5cm}
+ {\bf Research and development:}
+\begin{center}
+ \includegraphics[height=1cm]{partner-logos/inria.png}
+ \includegraphics[height=1cm]{partner-logos/tum.png}
+
+ \includegraphics[height=1cm]{partner-logos/gnu.jpeg}
+ \includegraphics[height=1cm]{partner-logos/gnunet.jpeg}
+\end{center}
+
+\vspace{0.1cm}
+
+ {\bf Business development:}
+
+\begin{center}
+ \includegraphics[height=1cm]{partner-logos/ashoka.png}
+ \includegraphics[height=1cm]{partner-logos/hl.png}
+\end{center}
+
+ \vspace{0.1cm}
+ \end{minipage}
+% \hfill
+% \begin{minipage}{5cm}
+% {\bf Banks (in discussion):}
+
+ % \includegraphics[height=1cm]{partner-logos/hsbc.jpeg}
+% \includegraphics[height=1cm]{partner-logos/gls-bank.png}
+% \vfill
+% \vspace{1cm}
+
+% {\bf Merchants:}
+% \includegraphics[height=0.8cm]{partner-logos/dk.png}
+% \includegraphics[height=1cm]{partner-logos/spiegel.jpeg}
+% \includegraphics[height=1cm]{partner-logos/heise.png}
+% \vfill
+% \end{minipage}
+\end{frame}
+
+
+\begin{frame}{15. Strategic partners for distribution}
+% \begin{center}
+ \includegraphics[height=1.2cm]{partner-logos/tor.jpeg} \hskip2cm 2+
million daily users (in discussions)
+ \vfill
+ \includegraphics[height=0.8cm]{partner-logos/rff.png}
+ \vfill
+ \includegraphics[height=0.8cm]{partner-logos/pep.pdf}
+ \vfill
+ \includegraphics[height=1cm]{partner-logos/tcij.png}
+ \vfill
+ \includegraphics[height=1cm]{partner-logos/firefox.png} \hskip2cm (in
discussions)
+ \vfill
+%\end{center}
+\end{frame}
+
+
+\begin{frame}{16. Next steps}
+ \begin{itemize}
+ \item[1.]{Complete solution in v0.5 (alpha)}
+ \item[2.]{Complete first seed funding round for \EUR{1.5-2m}}
+ \item[3.]{Integrate with more distribution channels \\
+ (Android wallet, p$\equiv$p, \ldots)}
+ \item[4.]{Launch successfully in one of the niches
+ \begin{itemize}
+ \item Newspapers
+ \item Entertainment \& Media
+ \item Gaming
+ \item Platform provider under threat from \\
+ ApplePay, GooglePay, Amazon, \ldots
+ \end{itemize}}
+ \end{itemize}
+\end{frame}
+
+
+\section{Risks}
+\begin{frame}{17. Main risks}
+ \begin{itemize}
+ \item[1.]{Technical risk --- {\color{green} resolved}}
+ \item[2.]{Cryptographic risk --- {\color{green} resolved}}
+ \item[3.]{Distribution on customer side challenging}
+ \item[4.]{Distribution on merchant side challenging}
+ \item[5.]{Regulator does not approve}
+ \item[6.]{System hacked (by internal admin staff)}
+ \end{itemize}
+\end{frame}
+
+
+\begin{frame}{18. Risk Mitigation}
+ \begin{itemize}
+ \item[1.]{Technical risk --- {\color{green} resolved}}
+ \item[2.]{Cryptographic risk --- {\color{green} resolved}}
+ \item[3.]{Distribution on customer side challenging \\
+ {\color{green} Partner with reach on consumer end}}
+ \item[4.]{Distribution on merchant side challenging \\
+ {\color{green} Partner with platform merchant, or \\
+ Partner with large financial service player \\
+ Focus on e-commerce}}
+ \item[5.]{Regulator does not approve \\
+ {\color{green} Initial reviews by specialists see no issues \\
+ Partner with large financial service player}}
+ \item[6.]{System hacked (by internal admin staff) \\
+ {\color{green} Automated reporting shows maximum exposure \\
+ Audits conducted regularly \\
+ Vetting of admin personnel}}
+ \end{itemize}
+\end{frame}
+
+
+\begin{frame}{19. Business risks and measures}
+ \begin{center} \tiny
+ \begin{tabular}{p{3cm}|p{3cm}|p{3cm}}
+ {\bf Risk} & {\bf Impact} & {\bf
Countermeasure} \\ \hline \hline
+ Usability too low & few users, insufficient income & usability
testing \\ \hline
+ Exchange data loss & financial damage & backups \\
\hline
+ Exchange compromise & financial damage & limit loss by
key rotation \\ \hline
+ Exchange offline & reputation loss & redundant
\mbox{operation} \\ \hline
+ Compliance issues & illegal to operate & work with
\mbox{regulators} \\ \hline
+ No bank license & illegal to operate & work with
banks \\
+ \end{tabular}
+ \end{center}
+\end{frame}
+
+
+%\begin{frame}{20. Recent Press}
+% {\tiny
+% \setlist[description]{leftmargin=1cm,labelindent=0.5cm}
+% \begin{description}
+% \item[09-2015]\ \\
+% \begin{itemize}
+% \item
\url{https://bitcoinmagazine.com/21901/bitcoin-governments-without-privacy-taxes/}
+% \item \url{http://www.heise.de/tp/artikel/46/46089/1.html}
+% \end{itemize}
+% \item[06-2016]\ \\
+% \begin{itemize}
+% \item
\url{http://www.theregister.co.uk/2016/06/06/gnu_cryptocurrency_aims_at_the_mainstream_economy_not_the_black_market/}
+% \item
\url{http://www.golem.de/news/halbanonymes-bezahlsystem-gnu-taler-soll-kryptowaehrungen-gerechter-machen-1606-121323.html}
+% \item
\url{http://www.heise.de/newsticker/meldung/GNU-Taler-Open-Source-Protokoll-fuer-Zahlungen-in-Version-0-0-0-erschienen-3228525.html}
+% \end{itemize}
+% \item[08-2016]\ \\
+% \begin{itemize}
+% \item
\url{https://www.theguardian.com/technology/2016/sep/01/online-publishers-readers-ad-block-surveillance-donate-anonymously}
+% \end{itemize}
+% \item[02-2017]\ \\
+% \begin{itemize}
+% \item \url{http://hackerpublicradio.org/eps.php?id=2222}
+% \end{itemize}
+% \end{description}
+% }
+% \begin{center}
+% Complete list at \url{https://taler.net/press}
+% \end{center}
+%\end{frame}
+
+\section{Next steps}
+\begin{frame}{20. Next steps in development and timeline}
+
+\definecolor{barblue}{RGB}{153,204,254}
+\definecolor{groupblue}{RGB}{51,102,254}
+\definecolor{donegreen}{RGB}{0,255,0}
+\definecolor{linkred}{RGB}{165,0,33}
+\renewcommand\sfdefault{phv}
+\renewcommand\mddefault{mc}
+\renewcommand\bfdefault{bc}
+\sffamily
+\begin{ganttchart}[
+ time slot format=isodate, % format for dates, YYYY-MM-DD
+ canvas/.append style={fill=none, draw=black!5, line width=.75pt},
+ hgrid style/.style={draw=black!5, line width=.75pt},
+ vgrid={*1{draw=black!5, line width=.75pt}},
+ today=2018-1-18, % Important: must match \today below!
+ today label=\today, % render date when presentation was compiled here
+ today rule/.style={
+ draw=black!64,
+ dash pattern=on 3.5pt off 4.5pt,
+ line width=1.5pt
+ },
+ x unit = 0.9pt, % how wide is one day? Scaled so that 9 months fit the
window
+ y unit chart = 0.6cm, % height of a bar in the chart
+ y unit title = 1cm, % height of the title bar
+ today label font=\small\bfseries,
+ title/.style={draw=none, fill=none},
+ title label font=\bfseries\footnotesize,
+ title label node/.append style={below=7pt},
+ include title in canvas=false,
+ bar label font=\mdseries\small\color{black!70},
+ bar label node/.append style={left=2cm},
+ bar/.append style={draw=none, fill=donegreen}, % color of progress bar
when done
+ bar incomplete/.append style={fill=barblue}, % color of progress bar not
yet done
+ bar progress label font=\mdseries\footnotesize\color{black!70},
+ group incomplete/.append style={fill=groupblue},
+ group left shift=0,
+ group right shift=0,
+ group height=0.5,
+ group peaks tip position=0,
+ group label node/.append style={left=.6cm},
+ group progress label font=\bfseries\small,
+ group/.append style={draw=none, fill=donegreen}, % black!63},
+ link/.style={-latex, line width=1.5pt, linkred},
+ link label font=\scriptsize\bfseries,
+ link label node/.append style={below left=-2pt and 0pt}
+ ]{2018-1-1}{2018-12-31}
+ \gantttitle[
+ title label node/.append style={below left=7pt and -3pt}
+ ]{Month: \qquad 1}{9} % We show 9 months, start at '1'
+ \gantttitlelist{2,...,9}{31} \\ % a month has ~31 days (tss per label given)
+ \ganttgroup[progress=90,
+ progress label text={optimizations and
tipping}]{v0.5}{2018-1-1}{2018-1-31} \\
+ \ganttgroup[progress=0,
+ progress label text={fault-injection testing}]{v0.6}{2018-2-1}{2018-3-31}
\\
+ \ganttgroup[progress=0,
+ progress label text={misc. cleanup}]{v0.7}{2018-4-1}{2018-5-15} \\
+ \ganttgroup[progress=0,
+ progress label text={wallet backup}]{v0.8}{2018-5-15}{2018-6-30} \\
+ \ganttgroup[progress=0,
+ progress label text={data export}]{v0.9}{2018-7-1}{2018-8-30}
+\end{ganttchart}
+
+ Development details can be found under:
+ {\color{blue} \url{https://gnunet.org/bugs/roadmap_page.php}} \\
+ Demo of real system: {\color{blue} \url{https://demo.taler.net/}}
+
+ \vfill
+ {\bf Resources:} Currently development is funded until mid 2018
+\end{frame}
+
+
+
+\section{Investment use}
+\begin{frame}{21. Use of investment}
+ \begin{itemize}
+ \item Wallet support on more platforms (Android, iOS, NFC, PEP)
+ \item Web-shop integration for popular Web shops (Magento, WordPress)
+ \item Bank and/or blockchain integration of exchange backend
+ \item External security audits (to appease regulators and partners)
+ \item User interface design polishing (UI/UX) and internationalization
+ \item Improved documentation and operations manuals
+ \item Strategic marketing and partner acquisition
+ \item Product launch (hardware purchases, regulatory fees)
+ \end{itemize}
+\end{frame}
+
+
+\input rff-only.tex
+
+
+\begin{frame}{Contact details}
+ \begin{center}
+ \begin{tabular}{p{5cm}p{5cm}}
+ % {\bf CEO} & {\bf CTO} \\ & \\
+ Leon Schumacher & Dr. Christian Grothoff \\
+ {\tt address@hidden & {\tt address@hidden \\
+ +41-79-865-9365 & +41-78-692-6894 \\
+% \url{http://taler.net/ceo/} & \url{http://taler.net/cto/} \\
+ \end{tabular}
+
+ \vspace{2cm}
+ \url{https://www.taler.net/}
+ \end{center}
+\end{frame}
+
+
+\begin{frame}
+ \begin{center}
+ \includegraphics[width=0.66\textwidth]{taler-logo-2017.pdf}
+ \end{center}
+\end{frame}
+
+\end{document}
+
+\begin{frame}{License model}
+ \begin{center}
+ \begin{tabular}{p{2cm}|c|p{5.5cm}}
+ {\bf Component} & {\bf License} & {\bf Why?} \\ \hline \hline
+ Exchange & Affero GPL & competitors must share
\mbox{extensions} \\ \hline
+ Wallets & GPLv3+ & enable community development \\
\hline
+ Merchant & Lesser GPL & maximize market adoption \\
+ \end{tabular}
+ \end{center}
+\end{frame}
+
+\end{document}
+
+
+
+
+
+
+\begin{frame}{17. Efforts needed to reach v0.7}
+% \begin{center}
+ \begin{tabular}{rp{7.5cm}cr}
+ 1. & Support refunds from merchant & - & 2 PM \\
+ 2. & Support refunds from (bankrupt) PSP & - & 2 PM \\
+ 3. & X.509 integration of merchant keys & - & 1 PM \\
+ 4. & Performance tuning & - & 4 PM \\
+ 5. & Extensive testing incl. fault injection & - & 6 PM \\
+ 6. & Documentation, minor features & - & 6 PM
+ \end{tabular}
+% \end{center}
+
+\vfill
+
+21 PM $\times$ \EUR{6k/month} $=$ \EUR{126k} \\
+
+ {\bf Budget envelope: \EUR{150-200k}}
+
+ \vfill
+ {\tiny
+
+\noindent
+PSP $=$ Payment Service Provider / Exchange \\
+\noindent
+PM $=$ Person month
+}
+\end{frame}
+
+
+\begin{frame}{18. Efforts for other critical elements}
+% \begin{center}
+ \begin{tabular}{rp{7.5cm}cr}
+ 1. & Wallet backup and cross-device synchronization & - & 4 PM \\
+ 2. & Wallet App for Android & - & 18 PM \\
+ 3. & Wallet App for iOS & - & 18 PM \\
+ 4. & Translation of user interfaces & - & 3 PM \\
+ \\
+ 5. & External security audit & - & \EUR{100k}
+ \end{tabular}
+ % \end{center}
+
+ \vfill
+
+ \begin{tabular}{lcr}
+ 43 PM $\times$ \EUR{6k/month} & $=$ & \EUR{256k} \\
+ External audit & $=$ & \EUR{100k} \\
+ {\bf Budget envelope:} & & {\bf \EUR{360-400k}}
+ \end{tabular}
+ \vfill
+\end{frame}
+
+
+\begin{frame}{19. Extra efforts needed for refugee scenario\footnote{Optional
special case}}
+% \begin{center}
+ \begin{tabular}{rp{7.5cm}cr}
+ 1. & Shop App for Android & - & 12 PM \\
+ 2. & Shop App for iOS & - & 12 PM \\
+ 3. & Simplify exchange installation & - & 2 PM \\
+ 4. & Stand-alone basic-income bank & - & 6 PM \\
+ 5. & Translate Taler operator manuals & - & 2 PM \\
+ 6. & Network-challenged backup procedures & - & 3 PM \\
+ \end{tabular}
+ % \end{center}
+
+ \vfill
+
+ \begin{tabular}{lcr}
+ 27 PM $\times$ \EUR{6k/month} & $=$ & \EUR{222k} \\
+ {\bf Budget envelope:} & & {\bf \EUR{250-280k}}
+ \end{tabular}
+\end{frame}
+
+
+\begin{frame}{20. Sizing of Seed Round}
+% \begin{center}
+ \begin{tabular}{rp{7.5cm}r}
+ 1. & Development / Programming & \EUR{600k} \\
+ 2. & GoToMarket and Partner Sign-up & \EUR{350k} \\
+ 3. & Integration efforts with merchants & \EUR{225k} \\
+ 4. & Administrative \& Overhead & \EUR{325k} \\
+ \\
+ \\
+ & {\bf Size of seed round (until 12/2018):} & \EUR{1.5m} \\
+ & {\bf Time line:} & Q4 2017 \\
+ \\
+ & (Special optional refugee addition & \EUR{300k}) \\
+ \end{tabular}
+ % \end{center}
+\end{frame}
+
+
+
+\section{Financials}
+
+\begin{frame}{Balance Sheet: Year 1, 2, 3 (kEUR)}
+\scalebox{0.8}{
+ \tiny
+ \begin{tabular}{l|r|r|r|c|l|r|r|r}
+ & Year 1 & Year 2 & Year 3 & &
& Year 1 & Year 2 & Year 3 \\ \hline
+ {\bf Fixed assets} & & & & & {\bf
Equity} & & & \\ \hline
+ Incorporation costs & 5 & 4 & 3 & & Share
capital & 45 & 45 & 45 \\ \hline
+ Intangible assets & 16 & 63 & 40 & & Share
premium & 5'350 & 10'350 & 10'350 \\ \hline
+ Tangible assets & 20 & 44 & 68 & & Reserves
& & & \\ \hline
+ Financial assets & 0 & 0 & 0 & & Retained
earnings & 0 & -1'477 & -4'987 \\ \hline
+ {\bf Current assets} & & & & &
Profit/loss for the year & -1'477 & -3'510 & -1'500 \\ \hline
+ Inventory & & & & & Provisions
& 0 & 23 & 168 \\ \hline
+ Accounts receivable (clients) & & 30 & 200 & & {\bf
Long-term debts $>$ 1 year} & & & \\ \hline
+ Accounts receivable (affiliated) & & & & & Bank loans
& 0 & 0 & 0 \\ \hline
+ Other current assets & & & & & Accounts
payable (affiliated) & 0 & 0 & 0 \\ \hline
+ Cash in bank & 3'898 & 5'364 & 3'840 & & {\bf
Short-term debts $<$ 1 year} & & & \\ \hline
+ & & & & & Bank loans
& 0 & 0 & 0 \\ \hline
+ & & & & & Accounts
payable (suppliers) & 0 & 0 & 0 \\ \hline
+ & & & & & Fiscal and
social debt & 21 & 74 & 75 \\ \hline
+ & & & & & Accounts
payable (affiliated) & 0 & 0 & 0 \\ \hline
+ & & & & & Other
liabilities & 0 & 0 & 0 \\ \hline
+ {\bf TOTAL ASSETS} & 3'939 & 5'505 & 4'151 & & {\bf TOTAL
EQUITY + LIABILITIES} & 3'939 & 5'505 & 4'151 \\
+\end{tabular}}
+\vfill
+\begin{center}
+ Projections for years 4--6 available upon request.
+\end{center}
+\end{frame}
+
+
+\begin{frame}{Income Statement: Year 1, 2, 3 (kEUR)}
+ \small
+ \begin{tabular}{l|r|r|r}
+ {\bf Profit or loss} & Year 1 & Year 2 & Year
3 \\ \hline
+ & & &
\\ \hline
+ Turnover & 0 & 129 &
2'520 \\ \hline
+ Other operating income & 0 & 0 &
0 \\ \hline
+ Cost of goods sold & 0 & 0 &
0 \\ \hline
+ Personnel costs & -1'066 & -2'804 &
-3'085 \\ \hline
+ Value adjustments & 0 & 0 &
0 \\ \hline
+ Other operating charges & -412 & -835 &
-935 \\ \hline
+ {\bf Operating result} & -1'477 & -3'510 &
-1'500 \\ \hline
+ Interest \& similar income & 0 & 0 &
0 \\ \hline
+ Interest \& similar charges & 0 & 0 &
0 \\ \hline
+ {\bf Financial result} & 0 & 0 &
0 \\ \hline
+ {\bf Result from ord. act. before taxation} & -1'477 & -3'510 &
-1'500 \\ \hline
+ Extraordinary income & 0 & 0 &
0 \\ \hline
+ Extraordinary expenses & 0 & 0 &
0 \\ \hline
+ {\bf Extraordinary result} & 0 & 0 &
0 \\ \hline
+ Taxes & 0 & 0 &
0 \\ \hline
+ {\bf Profit or loss fiscal year} & -1'477 & -3'510 &
-1'500 \\ \hline
+ \end{tabular}
+\end{frame}
+
+
+\begin{frame}{Cashflow Statement: Quarter 1 to 12 (kEUR)}
+\scalebox{0.7}{
+ \tiny
+ \begin{tabular}{l|c|r|r|r|r|r|r|r|r|r|r|r|r}
+ {\bf Cash flow (Q1-Q12)} & & Q1 & Q2 & Q3 & Q4
& Q5 & Q6 & Q7 & Q8 & Q9 & Q10 & Q11 & Q12
\\ \hline
+ & & & & &
& & & & & & & &
\\ \hline
+ {\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
+ {\bf Cash Inflows} & & & & &
& & & & & & & &
\\ \hline
+ Turnover (inc VAT) & & 0 & 0 & 0 &
0 & 0 & 2 & 7 & 120 & 300 & 480 & 690 &
1'050 \\ \hline
+ R\&D subsidy & & 0 & 0 & 0 &
0 & 0 & 0 & 0 & 0 & 0 & 0 & 0 &
0 \\ \hline
+ Initial capital & & 45 & 0 & 0 &
0 & 0 & 0 & 0 & 0 & 0 & 0 & 0 &
0 \\ \hline
+ Capital contribution/Loans & & 350 & 5'000 & 0 &
0 & 0 & 0 & 0 & 5'000 & 0 & 0 & 0 &
0 \\ \hline
+ Other income & & 0 & 0 & 0 &
0 & 0 & 0 & 0 & 0 & 0 & 0 & 0 &
0 \\ \hline
+ & & & & &
& & & & & & & &
\\ \hline
+ Total Cash Inflows ($B$) & & 395 & 5'000 & 0 &
0 & 0 & 2 & 7 & 5'120 & 300 & 480 & 690 &
1'050 \\ \hline
+ {\bf Cash Outflows} & & & & &
& & & & & & & &
\\ \hline
+ Personnel costs & & 47 & 128 & 373 &
518 & 644 & 685 & 712 & 763 & 776 & 770 & 770 &
770 \\ \hline
+ External costs & & 20 & 49 & 37 &
64 & 69 & 72 & 72 & 76 & 75 & 57 & 57 &
57 \\ \hline
+ & & & & &
& & & & & & & &
\\ \hline
+ Investments & & 2 & 6 & 6 &
6 & 6 & 6 & 6 & 6 & 6 & 6 & 6 &
6 \\ \hline
+ Other expenses & & 28 & 88 & 88 &
76 & 95 & 109 & 168 & 174 & 174 & 173 & 171 &
171 \\ \hline
+ & & & & &
& & & & & & & &
\\ \hline
+ Total Cash Outflows ($C$) & & 97 & 503 & 503 &
664 & 814 & 872 & 958 & 1'019 & 1'031 & 1'006 & 1'004 &
1'004 \\ \hline
+ 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 \\
+ \end{tabular}
+}
+\end{frame}
+
+
+\begin{frame}
+ \begin{center}
+ \includegraphics[width=0.66\textwidth]{taler-logo-2017.pdf}
+ \end{center}
+\end{frame}
+
+
+\end{document}
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