Posted by Jim Bolas
                                
President Emanuel Panos chaired the meeting
 
 
 
Club Meeting Program Schedule
 
  • March 21st – Andrew Moran – University of Pittsburgh
  • March 28th – Tom Rohrich – Self-Driving Vehicles
  • April 4th – Club Assembly – Pancake Festival
 
District Schedule
 
  • March 23rd – PETS – President-Elect Training Seminar
  • March 31st – Foundation Luncheon – Rivers Casino
  • May 9-12th – District 7300 Conference – Seven Springs
 
Announcements
 
  • Emanuel Panos
  • Rotary Club History – The District has requested each club to provide a one-page highlights of the club’s accomplishments for a District history summary.
  • Pancake Festival Ideas – Emanuel stated that he will request member’s ideas to improve Pancake Festival performance in the future. The April 4th meeting will be dedicated to a Club Assembly to have a general discussion.
  • Jim Bolas
  • 2019-2020 Programs/Speakers – Jim stated as the Director – Club Service next Rotary Year the goal is to have a full calendar established at the outset of the Rotary Year with speakers/programs for each meeting where required. Club assemblies will also be scheduled. Each member is requested to provide at least one recommended speaker.
 
Program Speaker – Doug Piconi (son of Barbara Piconi) – Blockchain & Bitcoin
 
Barbara Piconi introduced Doug. He graduated from the University of Pittsburgh, is a software engineer with 20-years of experience in developing computer applications. He has worked for Electronic Arts, an American video game company, 2nd largest gaming company in the Americas and Europe and the Department of Defense having worked on the F35 fighter jet program. The key points made by Doug were as follows:
 
  • The definition of a “Block Chain” is a growing list of records, called blocks. By design, a blockchain is resistant to modification of the data. A blockchain is typically managed by a peer-to-peer network. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks which requires the consensus of the network majority. It is intended to protect an individual’s data. Bitcoin transactions relay upon the blockchain technology
  • The definition of “Bitcoin” is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or a single administrator. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a “blockchain”.
  • The value of a bitcoin has been volatile swinging from $4000 to $14,000 to $3000 (currently at $3,855 per bitcoin. Not for the typical investor.
  • The cryptocurrency can be manipulated, is unregulated and is a highly speculative investment
  • Quantum computing which applies the principles of quantum mechanics, can be 100 million times faster than current computers. Such a powerful computer poses a security threat to current information systems; especially cryptocurrencies which relies on blockchain technology which could hack the codes implemented by individual users to authorize cryptocurrency transactions.