And so she is going to talk to us today about the idea of Paypal coming to cryptocurrency in a way, and a fun way of dealing with it Her name is Amanda B

Johnson Please join me in welcoming her now Hello, hello! Thank you so much for coming to hear me speak I'll wait for these few people straggling in here to get comfortable Hi everyone! I sure appreciate you coming out

My name is Amanda B Johnson I'm the host and writer of the weekly Youtube series called DASH: Detailed And if I could be detailed about that, I'm the worlds first person to be paid by blockchain to make videos Kind of cool

Firstly I want to start off with a thank you to Jeff Berwick, because you may or may not know, that within the crypto sphere, things get a little tribal sometimes And sometimes it's very much if you're not my coin, you're a shit coin And scamcoin, and altcoin, and this and that, and this and that, And sometimes it can be really hard to reach out within the crypto sphere itself, but Jeff Berwick kindly extended not only the platform of Anarchast to me a few weeks ago, but also extended the platform of Anarchapulco, as well as the Dollar Vigilante to allow me to introduce you to Dash So thank you Jeff Berwick

I have been unbanked for over three years That's weird, right? Thank you for doing that right on cue I really hoped that you would Because that allows me to tell you that it's absolutely not all it's cracked up to be Oh I was wondering what you all were looking at

I'm like, my god, they're looking behind me Ok, you're looking at me on the screen It's absolutely — being unbanked is not all it's cracked up to be at all It's tough And the reason I'm here to present to you what I'm here to present to you today, which is what I believe will be cryptocurrency's killer app

That we have all been waiting for For years If it were not on the horizon, I might reconsider opening a bank account Because cryptocurrency is currently misnamed It's not a currency yet

Right? Currency is the medium of exchange I use money and currency interchangeably We could debate the semantics of that later But currency is a medium of exchange And

I didn't get my ticket here with it Didn't get this dress with it Didn't buy my coffee today with it

Therefore it is a not yet currency It is a we hope it becomes a currency And yet, year after year, it keeps not being a currency So what's missing? If we think for a moment about the nature of money, the history of money, what did it use to be? Salt I'm told that that's the root word of the word salary

Root word of the word salary — s – a – l — is salt Salt used to be money Feathers Shells Precious metals

Coins What do all of these objects have in common? They're easy to use It doesn't require any special knowledge for me to have a shell and hand it to you It's money We must also ask ourselves about paymentt networks

Visa MasterCard Paypal Venmo What do they have in common? Relatively easy to use

No specialized knowledge required to swipe a card Or to tell Paypal that you want to send money to [email protected] Not that you could because I don't have a Paypal account because I don't have a bank You remember that bit

Nonetheless, the commonality here is that both money and payment networks are relatively easy to use And yet, and yet, This poorly named technology that we currently call cryptocurrency it looks a little something like this Can I get my first slide please, Pete? Yeah That's not a mistake by the way That's not my slides having malfunctioned

That is a cryptocurrency address What a nightmare! What a nightmare, that someone would look at this and I like to think — it's an over simplification — but I like to think there's two types of people in the world The type of person who looks at this and is like, that's some sweet entropy I feel secure about that And then there's the type of person who is constantly hitting refresh on their screen because they're sure that the HTML is leaking or something

This could not possibly be what they were intended to see On my way here I had a privilege of waiting at the Houston airport and, I don't know if I just It must have been something I was talking about

But one, two, three other people came over and sat down by Pete and me and they were like, hey, are you going to Anarchapulco? And we said, yes! And of course we got to the subject of cryptocurrency And, by the way, you can put that slide down Get it out of here It's horrible Oh it is

Oh, so I can see what you can't see Learning And so we get into this topic of cryptocurrency and this man — I'm just going to call him by his name — Kenny Are you here Kenny? I think Kenny had to go home early And that's a damn shame

I hope he watches this video Kenny was the first person to sit down by us And be friendly with us And, one of the things he tells us is, I don't know a lot about this cryptocurrency stuff I'm not very technical

I don't really know how it all works Another of the people who came down and sat down next to us was named Shawn Shawn are you here? Shawn who looks like Tom Cruise? Clearly my charm did not do as much as I though it did that day Well it's just as well So as Kenny has expressed his discomfort with this crypto-whatever Shawn, bless his heart by the way, decides no, he's going to set this right for Kenny

It's cool And Shawn says, don't worry about it Kenny I mean, you want to get hold of some cryptocurrency, firstly all you need to do is decide whether you're will to take counterparty risk Once you've decided if you're willing to take counterparty risk you go ahead and choose your exhange and when you choose your exchange of course you'll want to be looking at rates, delivery time, and then you'll want to decide the security level you want

I mean, leaving your coins on an exchange isn't the most secure thing so then you'll want to go ahead and download a wallet to your desktop When you get the wallet to your desktop Pww! Transfer it out of the exchange to the wallet on your desktop, be sure to generate a new address for your privacy of course, and then of course you'll also want to be sure to backup your private key in various geographical locales Of course, it's a backup And I'm watching Kenny's heart shrink and die inside his body And I felt — my heart started to bleed a little bit too

And I just wanted to give him a pat on the back and say Kenny, it's ok Because guess what? You are Dash's target customer We want you to use Dash You, Kenny And that is why we are preparing to roll out Dash Evolution

Can I get my slide back on Pete? This is what a user will see when they log into a Dash Evolution account Now let me tell you how one starts a Dash Evolution account Let's go ahead and turn it back off for a moment Dash Evolution will be the end of device-specific wallets Now if you don't know what I mean when I say that, I'll give you a little example

Just yesterday in the Bitcoincom lounge over here there was a kind gentleman selling some merchandise and he had his payment address — that horrible cryptographic address — but he didn't have his QR code Right? And someone was like, hey, I want to buy your thing right here, right now And all they had was a QR code scanner And he says, my gosh, my QR code it's on my other, it's on my desktop

I'm sorry, I don't have it And he didn't make a sale These awkward things happen in cryptocurrency all the time Because your funds live on one device If your funds are on your desktop and you're out only with your phone, guess what? No cryptocurrency for you

If your funds are on your tablet and maybe the battery died but your friend's like, it's ok you can use my tablet No No cryptocurrency for you Because the funds in cryptocurrency, at the time being, live on one device and one device only With Dash Evolution you will be invited to create a username and password and that username and password are an account

That lives on the Dash blockchain What does it mean when you have an account that lives on a blockchain? It means that it can be accessed from any device It can be accessed from any wallet You may have the wallet Mycelium right now Imagine if your Mycelium username and password — it's a Bitcoin wallet by the way — imagine if your Mycelium username and password also gave you access to your Bitcoin on the Airbitz wallet, on the Bread wallet, on Coinbase, etc, etc

That's what I'm talking about Now at the time of account creation we will only ask one small inconvenience of our users and that because, to be your own bank, you have to have a piece of information that no one else has That's what it is to be your own bank when money is information To possess your own money, to be in control of your own money, you must have a piece of information that nobody else has

So at the moment of sign-up, in addition to creating a username and password, you will be given what's called a seed You may have seen them It's the sting of what? Twelve words Eighteen words The super-secure ones are what? Something like 24 words

And that is the moment at which you become enabled to be your own bank You write down the seed and that is the last sign that our users will see of cryptography That is the last remnant they'll have to deal with Can I get the slide back on Pete? This is a little History screenshot of transactions that have taken place in my Evolution wallet And you will notice that under Recipient, yes the laser pointer works, you will notice that under recipient here you see usernames

That's because we use usernames instead of cryptographic nightmares in Dash Evolution And a persons username is re-useable If you're username in Dash — excellent t-shirt by the way sir — If your username in Dash is "ILoveDashForever" well then I can send you as many payments as I want, indefinitely, just by telling my wallet to send Dash to "ILoveDashForever" And everytime the payment will land in a new cryptographic address Not that you need to know that, but we're doing that to protect your privacy

You're welcome Don't worry about the cryptography You'll also notice on this slide that there is a Payment Type here And the words — I'm not sure you're able to read them, I'll read them to you, there are some payment types here that say Auto Debit And Debit

That is because Dash Evolution will offer the first cryptocurrency that can do the pull billing model Rather than just the push model Think about how may bills you auto pay every month Netflix Phone bill

Insurance Maybe your rent Maybe your electricity Maybe your gas bill Maybe your cable or satellite bill

There's so much auto payments Did any of us think that cryptocurrency was going to work out if we couldn't do auto payments? How will we get to these subscriptions? How will we be able to connect with a vendor who's services we would like to subscribe to on a monthly basis? Well, one of the things I've noticed being in crypto so far is that one of the more difficult things to do is to connect people who want to pay with crypto with people who wan to accept it All sorts of websites have taken a stab at this task sometimes — maybe more often than sometimes — they're active for a while then they go offline It's a tough thing It's a tough thing to keep track of the merchants who are willing to accept crypto

So then, why not build a merchant app store within the wallet? Here we go So that's — that's how you can go shopping And find merchants who accept Dash Because they're right there, in the merchant app store And once you've browsed their products, found what you want, clicked "I want to buy" — whatever the button will say, an invoice is auto-generated right within your wallet

And you click "Pay" And it's done Ryan Taylor, the Director of Finance of Dash, — I didn't even know this, he announced this at the North American Bitcoin Conference last month — he says that this option — if you want it to — will also automatically send your shipping details to the merchant Done It's wild

That isn't all that Evolution has to offer you No, no We aim high You may notice here that there is — this is the dashboard, the account page, whatever — you may notice here that there is an account called "Private Funds" Dash was started for the reason of privacy

As a bit of history for you, our founder and lead developer is named Evan Duffield — he's a ginger who lives in Phoenix, Arizona — and three and-a-half, four years ago, something, he actually approached some Bitcoin core developers, and he said hey, I've been doing a lot of thinking, and I think that this whole open ledger thing is going to be a nightmare for privacy Because if anybody finds out any of the Bitcoin addresses that we own, they'll be able to trace not only everything that address ever did, but also everything that it will do in the future Maybe, would you be willing to talk with me about some privacy solutions that I have in mind for the Bitcoin blockchain? And they said No! Get out of here Evan Duffield And so that's why Evan started Dash Actually it was called Xcoin, then it was called Darkcoin — they made poor marketing choices in the early days if you ask me — but thankfully somebody wised up about two years ago and said hey, actually the word Dash, like as a portmanteau of digital cash, that would be a way better word, let's be that

So this private account here — Private Funds — to get privacy of your transactions in Dash when Evolution comes all you have to do is put funds in the private account Bam The protocol takes care of the rest You don't have to know to use Dash today To use Dash today you need know what the mixing button does, know how many rounds you want to select, know how long it's going to take

La-la-la-la-la-la Nope Guess what? Your mom doesn't care Your grandmother doesn't care All they want to do is put funds in a private account and know that they're going to private

The end We can do that for you What you'll also notice about this dashboard of your accounts here, is a little something called Savings And Savings might be our killer app So let me tell you what it does

The savings account is a way for one to earn interest on their Dash And a very competitive rate I imagine And how are we able to do this? 'Cuz that sounds kind of Ponzish right? How could the network pay you money on your money? Where's it coming from? In Dash the newly created coins — or if you are a tech nerd you would call it a block reward — the newly created coins are allocated to various pieces of our infrastructure one of them is called a masternode it's very useful for us, it provides a lot of functions Now at the current time, one must have a thousand Dash to lock down, or collatoralize to run a masternode in order to get paid its portion of the newly created coins in exchange for services

But that is a high barrier to entry Higher today than it actually has been actually And we would love to offer anybody a path to do that Without such a high barrier to entry While growing our infrastructure

So, anyone who chooses to put any funds in the savings account their funds then become available — with a secondary private key mind you, you remain your own bank the whole time Your funds aren't going anywhere But a secondary private key that proves that your funds have been locked away for a time as savings, makes it so your funds are eligible to get spun up in a masternode and for you to receive a proportional payout of what that masternode earns for its services Now that's a technical explanation for what's happening on the backend What's happening on the fontend? Oh! Your mother is so happy with the interest she has earned on her Dash savings

The end Now there is another — there's one last I would say — piece of the cryptocurrency puzzle that keeps a lot of people away I would say And, as I read one writer wrote yesterday, every hack, every theft is a black eye on the face of cryptocurrency Because at this point in time, with cryptocurrency's current usability one piece of information that you don't know, one wrong step that you take, can result in a total loss of funds

Irrecoverably Forever That's not popular Something that is technically possible and available to us actually, via having a Bitcoin codebase, is something called a Bitcoin covenant And the kind of covenant in particular I'm talking about in Dash is to be called a Vault

And a vault is the type of account that your savings will be Which is to say that when you put your money into savings, because you want to earn some interest, you'll also be putting your money into savings because you'll want it to be safe from hackers How can that be possible? Well, using a vault-style account a type of key is created at the moment that you put funds in the account called a 'recovery key' — something to that effect I believe it's called And this vault account will not let you withdraw from it any sooner than a pre-defined time period Let's say 24 hours

So if you want to withdraw from your savings account you have to wait 24 hours Why? Because if a hacker finds out — not even a hacker — there's not much to hack If someone leaves their username and password lying around and I take it I didn't hack them, I found their username and password Let's be serious If someone finds out your username and password and attempts to steal money from your vault account their withdrawal can be cancelled within that time period

Within those first 24 hours you discover that someone's made an attempt to drain your account, you use your recover key to stop it I know, right? Now let's take an even worse case scenario let's say that you got — what's the word that the cool kids use? p0wned? Or owned? Or something? Let's say that that happened to you, and not only did someone get your username and password, but they also got your recovery key In this scenario, it would be like a back-and-forth, right? Like you saying, cancel the transaction! And them saying, no make it go! And back and forth and back and forth And that sounds like a sort of nightmare scenario until you realize that a vault account can also allow you to just burn the funds Which is to say, just to terminate them

To say, alright, no one gets them So now in that scenario, no one gets the funds So these are a hackers choices with a vault account If he didn't get your recovery key, and you find the attempt, you can reverse his attempt to withdrawal your funds If he did get the recovery key, you can burn those funds

So either way, it greatly reduces the incentive for someone to attempt to steal from you Can I get my slide back on please? As I had mentioned, Dash Evolution wallets will not be device-specific Mobile is fine Desktop, fine Tablet, fine

You can sign into them from anywhere And what's more, anyone can launch a Dash Evolution wallet If you're a web developer or a mobile developer we will be releasing the worlds first decentralized API, the DAPI as well as a software development kit for you to go ahead and launch a wallet I see where the nerds are now nerds Thank you You will be able to launch a wallet without worrying — oh my gosh, what am I going to do, holding users private keys? What a nightmare

You're not going to hold anybody's private keys Oh Just like that? Just like that And that is Dash Evolution Now, if I were you — and I'm not, so I don't know if I'm barking up the wrong tree here — but if I were you, I would be — I might think of this as kind of a preposterous promise

This is not the cryptocurrency that you know This is not the cryptocurrency that I know How on earth is it that this thing that allows you to be your own bank could look like online banking? My question to you is, is there any option, is there any success path that any of us can see going forward, in which cryptocurrency does not offer the services that online banking offers? Is there any way to compete that does not involve offering at least the same level of service that your competitors offer? The reason that I am signed on to this preposterous promise is because I have been watching the Dash developers for about two and-a-half years now and time and time again — I would say roughly every six months — they make a little preposterous promise to do something that no one else in the crypto sphere is doing And then they deliver on it Time and time again

I like to say that the Dash development team has a very good share of unicorns And by unicorn I mean the kind of person who is both a programmer — computer scientist — person as well as someone who understands supply and demand Someone who understands humans I believe that's also called economics sometimes We have a lot of them

This product is set to launch in its alpha phase — and mind you not all of the cool stuff that I have shown you will initially be deployed for alpha If there's one thing I know about Dash developers it's that they do things gradually and slowly so as not to break anything We have seen at least once, very majorly, in the crypto sphere, what happens when things are deployed too soon Not tested enough And are the victims of hype

And things go very, very, very badly That said, the alpha version of Dash Evolution is set to be delivered the middle of this year And the public release is set to be released at the end of this year And we do believe that if anything has a shot at becoming cryptocurrency's killer app — the one we have all been waiting for — it is this Because money — one of money's definitions is the most widely used commodity in a society

If your mother cannot comfortably use something, if your grandmother cannot comfortably use something, if you yourself cannot comfortably use something, aren't we kidding ourselves thinking that that could become the most widely used commodity in society? I think so So, I'm going to finish up here and then I'm going to take any questions you may have, I — again as I said — my partner Pete Eyre here, we publish a weekly show called DASH: Detailed If you just want to stay in the loop about what's going on in Dash invite you to come to DASH: Detailed on Youtube every Wednesday What's more — just to go ahead and answer this question before anybody asks it, if you are the kind of person who is like, forget about waiting for Evolution Amanda, I am a technical user I feel comfortable guarding and storing and backing up my private keys

I would like to own Dash today How do I get it? Well, Dash was just added to WallOfCoinscom today Awesome Yes, please clap for that! We've been in this horrible catch-22 for years when someone said, how do I get Dash? The best answer we could give them was, buy another cryptocurrency first — Bitcoin — and then get some Dash

That's not a very inspiring answer WallOfCoinscom supports several countries around the world You can buy via a bank deposit You can buy via cash in-the-mail

Yes, cash in-the-mail I've tried it It's cool And yeah, so it's WallOfCoinscom

They added Dash as of today And only only more of these organizations, that is, cryptocurrency selling organizations more and more of them are adding us with time, which will make this even easier And finally, if you would like some free Dash today, I was informed just before my talk that the guys of The Crypto Show Danny and Chris in particular — would you guys raise your hand so people know how handsome your are? There Yes This man here

Danny in the corner He wants to give you some free Dash And if you don't have a wallet, go ahead and download, well, he'll help you I don't need to do this now But yeah, he would love to give you some

The Dash network sponsors The Crypto Show and we like those guys and they like us too So, with that said, thank you for previewing Dash Evolution