Paul kemp robertson bitcoin sweat tide meet the future of branded currency

paul kemp robertson bitcoin sweat tide meet the future of branded currency

I initially had no clue who Paul Kemp-Robertson was, but his presentation Paul Kemp-Robertson: Bitcoin. Sweat. Tide. Meet the future of branded currency. Jul 25, Paul Kemp-Robertson is the Cofounder and Editorial Director of Bitcoin. Sweat. Tide. Meet the future of branded currency. Posted Jul Tide. Meet the future of branded currency. Paul Kemp-Robertson: Bitcoin. Sweat. Tide. Meet the future of branded currency. As Kemp-Robertson suggests, many.

So there's a network of computers that are challenged to solve a very complex mathematical problem and the person that manages to solve it first gets the Bitcoins. And the Bitcoins are released, they're put into a public ledger called the Blockchain, and then they float, so they become a currency, and completely decentralized, that's the sort of scary thing about this, which is why it's so popular.

So it's not run by the authorities or the state. It's actually managed by the network. And the reason that it's proved very successful is it's private, it's anonymous, it's fast, and it's cheap. And you do get to the point where there's some wild fluctuations with Bitcoin.

So in one level it went from something like 13 dollars toliterally in the space of four months, and then crashed and lost half of its value in six hours. And it's currently around that kind of dollar mark in value. You get services, like Reddit and Wordpress are actually accepting Bitcoin as a payment currency now.

Bitcoins and the Future of Currencies | Let's Get Ethical

And that's showing you that people are actually placing trust in technology, and it's started to trump and disrupt and interrogate traditional institutions and how we think about currencies and money. And that's not surprising, if you think about the basket case that is the E.

I think there was a Gallup survey out recently that said something like, in America, trust in banks is at an all-time low, it's something like 21 percent. And you can see here some photographs from London where Barclays sponsored the city bike scheme, and some activists have done some nice piece of guerrilla marketing here and doctored the slogans.

But you get the gist, so people have really started to sort of lose faith in institutions. And this is a global survey, so these numbers are global.

paul kemp robertson bitcoin sweat tide meet the future of branded currency

And what's interesting is that you can see that hierarchy is having a bit of a wobble, and it's all about heterarchical now, so people trust people like themselves more than they trust corporations and governments.

And if you look at these figures for the more developed markets like U. And I find that sort of scary. People are actually trusting businesspeople more than they're trusting governments and leaders. So what's happening now, in the digital age, is that we can quantify value in lots of different ways and do it more easily, and sometimes the way that we quantify those values, it makes it much easier to create new forms and valid forms of currency. In that context, you can see that networks like Bitcoin suddenly start to make a bit more sense.

So obviously I'm looking at this through a marketing prism, so from a brand perspective, brands literally stand or fall on their reputations. And if you think about it, reputation has now become a currency.

You know, reputations are built on trust, consistency, transparency. So if you've actually decided that you trust a brand, you want a relationship, you want to engage with the brand, you're already kind of participating in lots of new forms of currency.

Loyalty essentially is a micro-economy. You think about rewards schemes, air miles. The Economist said a few years ago that there are actually more unredeemed air miles in the world than there are dollar bills in circulation. You know, when you are standing in line in Starbucks, 30 percent of transactions in Starbucks on any one day are actually being made with Starbucks Star points.

So that's a sort of Starbucks currency staying within its ecosystem.

paul kemp robertson bitcoin sweat tide meet the future of branded currency

So admittedly it's a currency at the moment that's purely for the Kindle. So you can buy apps and make purchases within those apps, but you think about Amazon, you look at the trust barometer that I showed you where people are starting to trust businesses, especially businesses that they believe in and trust more than governments.

So suddenly, you start thinking, well Amazon potentially could push this. It could become a natural extension, that as well as buying stuff -- take it out of the Kindle -- you could buy books, music, real-life products, appliances and goods and so on.

And suddenly you're getting Amazon, as a brand, is going head to head with the Federal Reserve in terms of how you want to spend your money, what money is, what constitutes money. This is a fantastic article I came across in New York Magazine, where it was saying that drug users across America are actually purchasing drugs with bottles of Tide detergent.

And what they're saying, so some criminologists have looked at this and they're saying, well, okay, Tide as a product sells at a premium. It's 50 percent above the category average. It's infused with a very complex cocktail of chemicals, so it smells very luxurious and very distinctive, and, being a Procter and Gamble brand, it's been supported by a lot of mass media advertising.

Paul Kemp-Robertson

And you do get to the point where there's some wild fluctuations with Bitcoin. So in one level it went from something like 13 dollars toliterally in the space of four months, and then crashed and lost half of its value in six hours. And it's currently around that kind of dollar mark in value. But what it does show is that it's sort of gaining ground, it's gaining respectability.

You get services, like Reddit and Wordpress are actually accepting Bitcoin as a payment currency now. And that's showing you that people are actually placing trust in technology, and it's started to trump and disrupt and interrogate traditional institutions and how we think about currencies and money.

And that's not surprising, if you think about the basket case that is the E. I think there was a Gallup survey out recently that said something like, in America, trust in banks is at an all-time low, it's something like 21 percent. And you can see here some photographs from London where Barclays sponsored the city bike scheme, and some activists have done some nice piece of guerrilla marketing here and doctored the slogans.

But you get the gist, so people have really started to sort of lose faith in institutions. And this is a global survey, so these numbers are global. And what's interesting is that you can see that hierarchy is having a bit of a wobble, and it's all about heterarchical now, so people trust people like themselves more than they trust corporations and governments.

Paul Kemp-Robertson | Speaker | TED

And if you look at these figures for the more developed markets like U. And I find that sort of scary. People are actually trusting businesspeople more than they're trusting governments and leaders.

paul kemp robertson bitcoin sweat tide meet the future of branded currency

So what's starting to happen, if you think about money, if you sort of boil money down to an essence, it is literally just an expression of value, an agreed value. So what's happening now, in the digital age, is that we can quantify value in lots of different ways and do it more easily, and sometimes the way that we quantify those values, it makes it much easier to create new forms and valid forms of currency.

In that context, you can see that networks like Bitcoin suddenly start to make a bit more sense. So if you think we're starting to question and disrupt and interrogate what money means, what our relationship with it is, what defines money, then the ultimate extension of that is, is there a reason for the government to be in charge of money anymore?

So obviously I'm looking at this through a marketing prism, so from a brand perspective, brands literally stand or fall on their reputations. And if you think about it, reputation has now become a currency. You know, reputations are built on trust, consistency, transparency. So if you've actually decided that you trust a brand, you want a relationship, you want to engage with the brand, you're already kind of participating in lots of new forms of currency.

So you think about loyalty. Loyalty essentially is a micro-economy. You think about rewards schemes, air miles. The Economist said a few years ago that there are actually more unredeemed air miles in the world than there are dollar bills in circulation.

You know, when you are standing in line in Starbucks, 30 percent of transactions in Starbucks on any one day are actually being made with Starbucks Star points. So that's a sort of Starbucks currency staying within its ecosystem.

And what I find interesting is that Amazon has recently launched Amazon coins. So admittedly it's a currency at the moment that's purely for the Kindle. So you can buy apps and make purchases within those apps, but you think about Amazon, you look at the trust barometer that I showed you where people are starting to trust businesses, especially businesses that they believe in and trust more than governments.

So suddenly, you start thinking, well Amazon potentially could push this. It could become a natural extension, that as well as buying stuff — take it out of the Kindle — you could buy books, music, real-life products, appliances and goods and so on.

And suddenly you're getting Amazon, as a brand, is going head to head with the Federal Reserve in terms of how you want to spend your money, what money is, what constitutes money.

And I'll get you back to Tide, the detergent now, as I promised. This is a fantastic article I came across in New York Magazine, where it was saying that drug users across America are actually purchasing drugs with bottles of Tide detergent.

And what they're saying, so some criminologists have looked at this and they're saying, well, okay, Tide as a product sells at a premium. It's 50 percent above the category average. It's infused with a very complex cocktail of chemicals, so it smells very luxurious and very distinctive, and, being a Procter and Gamble brand, it's been supported by a lot of mass media advertising.

So what they're saying is that drug users are consumers too, so they have this in their neural pathways. When they spot Tide, there's a shortcut. They say, that is trust. So it becomes this unit of currency, which the New York Magazine described as a very oddly loyal crime wave, brand-loyal crime wave, and criminals are actually calling Tide "liquid gold.

They said, obviously tried to dissociate themselves from drugs, but said, "It reminds me of one thing and that's the value of the brand has stayed consistent. So that brings me back to the connection with sweat.

paul kemp robertson bitcoin sweat tide meet the future of branded currency

So you think about, these Nike shoes have got sensors in them, or you're using a Nike FuelBand that basically tracks your movement, your energy, your calorie consumption.