Crypto Currency — Meeting Notes

· President Kim Boaz opened the May meeting.

· 2nd Quarter Social of the Woodard Group- May 6 from 5 – 7 pm at The Rose & Thistle Public House patio at Broadway & 24th on the Eastside. The social is open to spouses and friends as well.

· Free ReceiptBank dinner to discuss their app on May 8 but need to register. Also shown on the ASAP and Woodard Facebooks.

· There was positive feedback of the last virtual happy hour. Feel free to jump in anytime.

· Today’s topic: Bitcoin vs. Blockchain; presenters: Jennifer Dymond of Spire Consulting Services and Phoenix. Jennifer’s website is Spirecs.com and she offers technology consulting services. Phoenix teaches free Bitcoin 101 classes once a month at the Flying Pie Pizza on the first Monday. Phoenix’s website is BitConsultants.org.

· A distributed ledger is a database maintained and updated by multiple independent participants (nodes) in a large computing system. Examples = peer-to-peer networks; Napster and blockchain.

· Blockchain: block = set of information; chain = sequence of items of same types. Digital information stored in a public database. Some companies require their vendors to use blockchain, such as Walmart.

· Bitcoin is an open sourced technology. Data miners are incentivized to receive a miner’s fee by being the first to verify data in a block. There will always be 21 million bitcoins. IRS classifies bitcoin as a capital asset.

· There are more than 4,000 crypto currencies today.

· Upcoming Meetings:

· The next ASAP meeting will be June 6, 2019. The meeting topic is to be determined.

· The next Woodard meeting topic is Keeping Client Data Safe. Location is McMenamins Chapel Pub.

· There is a virtual meeting called “Zapier through Zoom” May 21 from 4:30 to 5:30. Zapier is an app that integrates plug ins. It can connect multiple apps and sends data in a customizable way. It can automate leads through QuickBooks plus many other apps.