November 27, 2017


Fairfield Iowa Association for Digital Currency ( volunteers propose to:

* be an information resource for the Mayor and City Council

* help Fairfield citizens understand Bitcoin and benefit financially
    Even if only 1/2 its value, it will help a lot of people
    Something is wrong with a system where people work harder and harder each generation
    Officer, I wish to report a crime - inflation

* assist users to know how to store Bitcoin safely and securely
Let's make sure no one loses a penny, or Satoshi, the minimal amount.

* provide seminars at the Library and info at the Art Walk

* inspire academic study of block chain technology and SCI

* enable citizens to pay our public utility bills with Bitcoin

* encourage entrepreneurs and businesses in this new field

* make jobs to keep high school and university graduates in town

* learn from other communities such as Keene, New Hampshire
Imagine going to Hyvee and paying with Bitcoin, Revelations coffee house, Farm loan from the Bank in Bitcoin

* make Fairfield the Digital Currency Capital of Iowa


Mayor Malloy: We will move to our public appearances. We have a brief presentation by Rick Shaddock from the Fairfield Iowa Association of Digital Currency

Rick Shaddock: Dear Mayor and the Council. It is a pleasure to be able to bring something some news that may be a value for the Fairfield community and economy and you may have seen in the news and the value of Bitcoin rising that's just under ten thousand dollars now I only wish I made this presentation well three years ago what the Fairfield when it was under a thousand and the Fairfield Iowa Association of digital currency assists of volunteers since 2014 educating the Fairfield community about digital currency and we have the an opportunity that we haven't seen since the days of Telegroup when there was decentralization of telecommunications and centralization of communications under-18 team aids standardizations and then decentralization Hebrides to many companies in town that benefited and another great wave is occurring now decent the decentralization of currency in exchange also in our record-keeping using the blockchain technology which basically is replicating records that would be you know public records on many thousands of computers called miners.

I brought one visually that you see with it that looks like and anybody can get one of these devices that's the power supply and this is the so-called minor or transaction processing machine that many thousands of people have worldwide and although you can hack one computer the odds of hacking thousands at the same time is infinite SP so that that's the key to its security strength in numbers having records replicated so we're we're happy to talking about digital currency and educate public answer any questions you have and hopefully the community will benefit financially now what did it possibly could be a bubble it may go back down again but the idea of digital currency itself is here to stay and was invented in America there are the team that went by the name Satoshi Nakamoto consisting of some computer science is mostly in California and Seattle but it could but innovations can happen here in Fairfield Iowa as well we have a well-educated community we have vast Internet connectivity those are the building blocks of creating perhaps an even better coin

Bitcoin is gotten so popular it has slowed down the transaction times have gotten into hours so there's room for someone in Fairfield maybe a Fairfield high school student to invent a better way so we provided seminars at the Fairfield library and at the Art Walk and we'd like to inspire a more academic study of this blockchain technology there are universities that offer even a master's degree in digital currency. There's one in Cyprus. But perhaps it could be one in the community of Community College or moderation University and we like to encourage entrepreneurs and businesses businessmen to examine this field many of the innovations now are happening in Japan and Switzerland but happen right here in Iowa.

I was in Washington DC and went to the office of Senator Grassley to tell them about the opportunities that Iowa could enjoy in digital currency and so they nobody that at that time had any Bitcoin we've been giving away some Bitcoin to people over two hundred people now living there at Malloy and since then some and every if anybody would like one let's say $1 worth of Bitcoin so that it's not so much that it seems like campaign compact contribution or anything like that if there are any rules like that hopefully one dollar is fine and then you can experience it to see how it works you don't have to get those machines you think you could just get an account there are several services such as Coinbase and Gemini where you can store your digital currency and perhaps Fairfield could learn from communities such as Keene New Hampshire where people can go all day just using Bitcoin.

So perhaps someday HyVee and Everybody's and Revelations and the bank in town could give farm loans in Bitcoin.  So there's a lot of potential and it will help to avert the ravages of inflation as over the over the years people have been working harder and harder because the value the dollar is going down it's been a little bit of a theft from all the different citizens so well Chief Thomas I'm reporting a theft since in 1913 the value of the dollar was going down to a fraction of what it was at the time.

But digital currency is neutral it doesn't favor any particular party it's run by mathematics and anyone can participate in the mining process but it's it's an equal playing field and we in Fairfield we know about fair fields equal playing fields and a currency system that's fair to all parties, to succeed.

Mayor Mallow: Okay well thank you very much we really appreciate knowing that you're available in the community to educate our citizens in this area it's fortuitous that you're right there was a front-page article about Bitcoin reaching its its highest valuation yet and about Wall Street investment banks and hedge fund managers starting to entertain investing in this so we know it's something we'll probably see in the future and we wish your association here good luck council any questions for a presenter ok not thank you very much

Rick: If I may speak on one item that I should have brought up. We want everybody to be safe so we had to keep people on this storage devices this is all there is or device or you can use a thumb drive and then keep download and keep the Bitcoin safe in a safety deposit box in a bank okay so we have run training on that great okay thank you.

Mayor: thank you very much.