Bitcoin Association propels BSV projects into businesses with first ever Pitch Day

Bitcoin Association, the global organization for Bitcoin businesses, gathered a group of investors recently in Seoul to delve into a collection of BSV projects pitched by its creators and explore potential business opportunities with them.

Bitcoin Association created an avenue through the first ever Pitch Day for these ventures and commercial projects to get access to funding from investors, and improve their BSV-driven ideas and products further, and consequently, turn these projects into actual businesses.

The whole day Shark Tank-type event catered to 14 pre-screened, enthusiastic participants from different parts of the world, including China, South Korea, Japan, Italy, Mexico, and the United States. The “pitchers,” ranging from seasoned entrepreneurs to young developers, went through the same process: each was given maximum of 30 minutes to present their ideas and answer questions by the investors interested in the BSV ecosystem from across Asia, Europe and North America.

The investors had insightful questions, which shows they understand the space well, according to Mike Gamaroff from Wheedl, one of the commercial ventured that pitched.

“They’re not playing. They are here for business,” he told CoinGeek, adding, “You expect when you were asked questions, you’re going to have a quick answer. I learned quite a lot actually. I thought, ‘you’re right’ I’ve got to go back and do that.”

Developer Joonyeong Park, who has no experience running a business, made his debut speaking in front of an investor panels at this event. This showed that the organizers were open to anyone—old and new – as long as you have a promising business idea.

The investors responded positively to Park’s pitch by asking a series of questions, showing interest to his product. This made him excited after his presentation.

Among all the presenters, Park was the one who asked for the lowest funding—US$100,000—which made one of the investors share this tip with CoinGeek for future project holders.

“Don’t ask for too little money and at the same time, don’t ask for too much. It’s a fine balancing act,” advised Alex Fauvel from TwoHop Ventures.

Founding President of the Bitcoin Association Jimmy Nguyen thought the process challenged these young entrepreneurs to evaluate their business plan. He added, “think about things like how to generate revenue, what’s my operating expense going to be, how much money do I need to raise, who are my competitors, all those things that, as someone who has worked in the business world for a long time, I know you need to do for business planning.”

This Pitch Day is only one of the many initiatives that Bitcoin Association is doing to support the growth of the entire BSV ecosystem. Recently, Bitcoin Association has announced another initiative—sponsoring the Cambridge University Metanet Society to conduct events that educate and promote the powerful capabilities of the BSV protocol, blockchain, and cryptocurrency.

In 2020, the organization plans to organize the second Pitch Day in London, the same week the CoinGeek Conference will be held in the city.

Brendan Lee: Building the knowledge base for Bitcoin

Brendan Lee is gathering together the collective wisdom around Bitcoin SV (BSV) and making it digestible for developers – both for newbies and for the battle-hardened. “I wanted to take my knowledge of Bitcoin and get it out to as many people as possible,” he says.

BSV is still less than a year old, since its fork from Bitcoin Cash, so it’s surprising how much there is to learn and to impart. But at the CambrianSV Bootcamp in Bali recently, Brendan, the new Training and Development Manager for the Bitcoin Association, demonstrated the fruits of his studies in a series of well-received seminars for the 30 or so developers who were attending.

He’s also taken on a second new job, as Head of Technology for Faiā, a management consultancy that works with companies who may be taking an interest in the potential of Bitcoin for the first time. For complete newcomers, Brendan admits there are often some prejudices to overcome. The “civil war” in Bitcoin is “very hard to explain to people”. But “as soon as you start talking about an honest money system, that’s transparent, where transactions are instant and extremely cheap …people actually hear that and they go ‘wow, I want to learn more’.”

One example of a consultancy project that makes use of Bitcoin is the development of a system to allow the automatic payment of royalties to an artist by an end consumer – making use of Bitcoin’s ability to pay out to multiple parties from a single transaction: “the fan pays the artist directly”.

In his work for the Bitcoin Association, Brendan says that what’s being built today still needs to achieve “feature parity” with existing applications on the Internet. “But once we get to the point that they do achieve feature parity, and start executing features that are in addition to what’s already available, we will see a moment where people start sitting up and listening” because they’ll have learnt that “if you use this application on Bitcoin, you can earn money really quickly”.

Brendan admits that there isn’t yet a defined body of knowledge around Bitcoin SV. In preparing his sessions for the Bali Bootcamp, he’s been “scouring the Internet” and talking to researchers at nChain to make sure that “my ideas and understanding of things is correct”. The result of the work will be a series of educational resources that the Bitcoin Association will release “so that people who are new to Bitcoin can come in and learn about these concepts – a lot of which are extremely important to understand if you are looking to build an application that works on top of Bitcoin”.

But Brendan is making no claims to be the final authority on the matters he’s teaching: “I’m working this out as I go along, and I have learnt so much in the process of putting these lectures together. What I’m really hoping for is that at some point someone comes to me and says ‘hey, I was thinking about what you said but here’s an even better way to do it’. That to me says that I’ve hit the right notes, I’ve got the creative juices flowing.”

Hear more from Brendan Lee in this week’s CoinGeek Conversation podcast:

You can also watch the podcast video on YouTube.

Please subscribe to CoinGeek Conversations – this is the fourth episode of the podcast’s second season. If you’re new to it, there are 30 episodes from season one to catch up on.

Here’s how to find them:

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Bitcoin Association sponsors Cambridge University Metanet Society to advance internet future on Bitcoin SV

Bitcoin Association announces its title sponsorship of the Cambridge University Metanet Society for the 2019-2020 academic year to support study and development of Bitcoin SV. The Society will use the financial support to conduct events that educate and promote the powerful capabilities of the BSV protocol, blockchain, and cryptocurrency.

Bitcoin Association is the global industry organization for the business of Bitcoin. It supports Bitcoin Satoshi Vision (BSV) as the only cryptocurrency with a blockchain that significantly scales (now), has robust utility (now), and is committed to a set-in-stone protocol for developers to build enterprise-level applications (now). BSV is also the only project that adheres to the original design of Bitcoin creator Satoshi Nakamoto. In short, BSV is Bitcoin.

Founded by Robin Kohze, a Cambridge genetics PhD student, the Cambridge University Metanet Society recognizes that the Bitcoin protocol has more to offer than just a decentralized cryptocurrency. The Society draws its name from the “Metanet” project designed by Dr. Craig S. Wright – Chief Scientist of nChain, the leading blockchain advisory, research and development firm with an office in London. The Metanet is a global protocol and framework for structuring and facilitating an Internet that operates on the Bitcoin blockchain. It combines Bitcoin’s dual capabilities to send financial payments and transmit data simultaneously in the same native transaction. The Metanet can create a better, more commercial Internet where all user activity and data has value to users. It is only possible on the Bitcoin SV blockchain, due to its massive scaling capability.

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Kohze recently took 2nd place at Bitcoin’s Association’s second BSV Hackathon, with final judging at the CoinGeek Seoul conference in South Korea. His project “Hive” drew upon his genetics background; it creates a “beehive” that connects information added by individuals around the world. Every content node containing the information needs one or more linked nodes and for every link to a node, it has a dynamic cost. The users are notified when new content is added, and the information is fetched directly from the BSV blockchain. 

The Cambridge University Metanet Society advances study toward achieving Metanet projects on BSV. It hosts weekly meetups and programs on the Cambridge University campus for students and thought leaders to hear speakers, debates and tutorials.  

As President of the Cambridge University Metanet Society, Robin Kohze remarks: “Cambridge is traditionally a place to bring the bright and creative together to exploring daring ideas and challenge the status quo. We thank Bitcoin Association for its financial support, enabling us to host 22 events this academic year to teach and support a new generation of Bitcoin developers that focus on real world utility applications.”

The first event under the sponsorship will be the evening of October 17, with featured speakers Dr. Craig Wright and Jimmy Nguyen, President of Bitcoin Association.

Nguyen comments: “As Bitcoin’s true power is finally being unlocked on Bitcoin SV, we are thrilled to support bright, daring minds at Cambridge University learn how to build the Metanet.  Their work will contribute to a future Internet that truly rewards users for their data, creates monetary value in user online activity, and incentivizes higher quality content – all only possible on BSV.”

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Register to attend the Metanet Society: The Bitcoin Vision event, organized by Cambridge University Metanet Society, here

BITCOIN ASSOCIATION СТАНОВИТСЯ СПОНСОРОМ CAMBRIDGE UNIVERSITY METANET SOCIETY ДЛЯ ПРОДВИЖЕНИЯ ИНТЕРНЕТА БУДУЩЕГО НА ОСНОВЕ BITCOIN SV

Bitcoin Association объявляет, что становится генеральным спонсором сообщества Metanet Society при Кембриджском университете на 2019-2020 академический год с целью поддержки изучения и развития Bitcoin SV. Metanet Society будет использовать данную финансовую поддержку для проведения мероприятий по продвижению и распространению информации о возможностях протокола BSV, блокчейна и криптовалюты.

Bitcoin Association — это глобальная отраслевая организация для биткоин-бизнеса. Ассоциация поддерживает Bitcoin Satoshi Vision BSV как единственную криптовалюту с блокчейном, который уже сейчас обеспечивает эффективное масштабирование, имеет многочисленные способы практического применения и нацелен на создание надежного и стабильного протокола для нужд разработчиков приложений корпоративного уровня. Кроме того, BSV — это единственный проект, который следует оригинальной концепции создателя Bitcoin Сатоши Накамото. Другими словами, BSV — это и есть биткоин.

Сообщество Cambridge University Metanet Society, основанное аспирантом факультета генетики Кембриджского университета Робином Козе (Robin Kohze), признает, что протокол Bitcoin может предложить намного больше, чем просто децентрализованную криптовалюту. Название сообщества содержит отсылку к проекту Metanet, который был создан д-ром Крейгом С. Райтом — главным научным сотрудником nChain. Это ведущая компания, занимающаяся консалтингом, исследованиями и разработкой в сфере блокчейн, офис которой находится в Лондоне. Metanet — это глобальный протокол и основа для структурирования и обеспечения функционирования интернета, работающего на основе блокчейна Bitcoin. Он сочетает двойную функциональность Bitcoin, которая позволяет одновременно с отправкой платежа осуществлять передачу данных в рамках той же платформенно-ориентированной транзакции. Metanet может создать улучшенную, более коммерчески-ориентированную версию интернета, в котором вся активность и все данные пользователей будут представлять для них реальную ценность. Реализация подобной идеи осуществима только на базе блокчейна Bitcoin SV, поскольку только он поддерживает массивное масштабирование.

Недавно Козе занял 2-е место на хакатоне Bitcoin Association BSV Hackathon, финальный этап которого прошел в рамках конференции CoinGeek Seoul в Южной Корее. Его проект Hive связан с генетикой и ставит целью создать цифровой «улей», который сможет объединять данные, предоставляемые людьми со всего мира. Каждый узел, хранящий данные, нуждается в одном или нескольких связанных с ним узлах, а каждая привязка имеет динамическую цену. Пользователи получают уведомления о добавлении нового контента, а информация берется непосредственно из блокчейна BSV.

Cambridge University Metanet Society продвигает исследования, направленные на реализацию проектов Metanet на основе BSV. Еженедельно в кампусе Кембриджского университета проводятся мероприятия и встречи, в ходе которых студенты и ученые могут слушать выступления докладчиков, а также принимать участие в оживленых дебатах и семинарах.

Робин Козе, президент Cambridge University Metanet Society, отметил, что «Кембридж традиционно является местом, где интеллектуальные и творческие личности встречаются для совместного изучения самых смелых идей и бросают вызов статус-кво. Мы благодарны Bitcoin Association за финансовую поддержку, которая позволит нам в этом академическом году провести 22 мероприятия для обучения и поддержки нового поколения биткоин-разработчиков, создающих приложения для практического применения в реальном мире».

Первое такое мероприятие состоится вечером 17 октября, и на нем выступят д-р Крейг Райт и Джимми Нгуен, президент Bitcoin Association.

Джимми Нгуен прокомментировал это так: «Истинный потенциал технологии Bitcoin наконец раскрывается благодаря Bitcoin SV, и мы очень рады оказывать поддержку ярким и смелым умам Кембриджского университета в освоении искусства построения сети Metanet. Они несомненно внесут свой вклад в создание будущего интернета, который будет вознаграждать пользователей за их данные и сделает пользовательскую активность по-настоящему ценной, стимулируя создание более качественного контента. И все это может быть реализовано только на основе блокчейна BSV».

비트코인 협회, 비트코인 SV를 기반으로 한 인터넷의 미래를 앞당기기 위해

캠브리지 대학교 메타넷 소사이어티 후원

비트코인 협회는 비트코인 SV의 연구 및 개발을 지원하기 위해 2019~2020학년도 캠브리지 대학교 메타넷 소사이어티에 대한 타이틀 후원을 발표합니다.  소사이어티는 재정 지원을 이용하여 BSV 프로토콜, 블록체인 및 암호화폐의 강력한 기능을 교육, 홍보하는 행사를 실시하게 됩니다.

비트코인 협회는 비트코인 기업을 위한 전 세계적인 산업 기구입니다.  (현재) 크게 확장할 수 있고, (현재) 강력한 유용성을 지닌 블록체인을 바탕으로 한 유일한 암호화폐로 비트코인 사토시 비전(BSV)을 지원하고 (현재) 개발자들이 엔터프라이즈급 응용 프로그램을 구축할 수 있는 명확한 프로토콜 개발에 헌신하고 있습니다.  또한, BSV는 비트코인 창조자 사토시 나카모토(Satoshi Nakamoto)의 원래 디자인을 그대로 따르는 유일한 프로젝트입니다. 간단히 말해 BSV이 비트코인인 셈입니다.

캠브리지 유전학 박사과정 학생인 로빈 코제(Robin Kohze)가 설립한 캠브리지 대학교 메타넷 소사이어티는 비트코인 프로토콜이 단지 탈중앙화된 암호화폐 이상의 것을 제공할 수 있다는 점을 인식하고 있습니다. 소사이어티는 런던에 사무소를 둔 주요 블록체인 자문, 연구 및 개발 회사 nChain의 수석 과학자 크레이그 라이트(Craig S. Wright) 박사가 고안한 “메타넷” 프로젝트에서 그 이름을 따왔습니다.   메타넷은 비트코인 블록체인을 기반으로 운영되는 인터넷을 구성, 촉진하기 위한 글로벌 프로토콜이자 프레임으로서, 동일한 속성을 가진 거래에서 동시에 금융 결제를 전송하고 데이터를 전송할 수 있는 비트코인의 이중 기능을 결합합니다.   메타넷은 모든 사용자 활동 및 데이터가 사용자에게 가치를 지니는 더 나은, 더 많은 상업 인터넷을 창출할 수 있습니다.  이는 대규모 확장 기능으로 인해 오직 비트코인 SV 블록체인에서만 가능합니다.

코제(Kohze)는 최근 비트코인 협회의 제2회 BSV 해커톤에서 2위를 차지했으며, 한국에서 개최되는 코인긱 서울 컨퍼런스에서 최종 결선을 앞두고 있습니다.  그의 프로젝트인 “하이브(Hive)”는 자신의 유전학적 배경에 기반한 것으로, 전 세계의 개인들이 추가한 정보를 연결하는 “벌집(beehive)”을 만들어냅니다. 정보가 있는 모든 콘텐츠 노드는 하나 이상의 연결된 노드가 필요하며, 노드에 대한 모든 링크의 경우, 동적 비용이 있습니다. 사용자는 언제 새 콘텐츠가 추가되는지, 그리고 언제 BSV 블록체인에서 직접 정보를 가져오는지에 대해 알림을 받습니다. 

캠브리지 대학교 메타넷 소사이어티는 BSV를 기반으로 한 메타넷 프로젝트를 달성하기 위한 연구를 추진하며, 학생들과 선구자적 이론가들을 위해 캠브리지 대학교 캠퍼스에서 주간 회의와 프로그램을 주최하여 강연, 토론 및 튜토리얼을 진행합니다.  

캠브리지 대학교 메타넷 소사이어티 대표인 로빈 코제(Robin Kohze)는 다음과 같이 이야기합니다. “캠브리지는 전통적으로 총명하고 창의적인 인재들을 과감한 아이디어로 인도하고 언제나 현재에 도전하는 장이었습니다.   재정 지원 결정을 내린 비트코인 협회에 감사드리며, 지원을 통해 이번 학년도 실제 세계의 유용성 응용 프로그램에 초점을 맞추는 새로운 세대의 비트코인 개발자들을 가르치고 지원하기 위한 22개 행사를 주최할 수 있게 되었습니다.”

후원을 받아 치러지는 첫 번째 행사는 10월 17일에 있을 예정이며, 크레이그 라이트(Craig Wright) 박사와 비트코인 협회 회장 지미 응우엔(Jimmy Nguyen)이 연사로 참여합니다.

응우엔(Nguyen)의 말: “비트코인의 진정한 힘은 결국 비트코인 SV에서 드러날 것이기에 캠브리지 대학교의 총명하고 과감한 학생들을 지원하여 메타넷 구축 방식을 배울 수 있다는 점이 실로 짜릿합니다.  그들의 작업은 데이터에 대해 사용자에게 진정으로 보상하고, 사용자 온라인 활동에서 금전적 가치를 창출하며, 더 높은 품질의 콘텐츠를 장려하는 미래의 인터넷에 기여하게 될 것이며, 이는 모두 BSV에서만 가능합니다.”

Winners of 2nd BSV Hackathon announced at CoinGeek Seoul conference

After 48 hours of coding from August 17-19 and even more hours of preparation, the winners of the 2nd Bitcoin SV Virtual Hackathon were announced Tuesday. The theme of the second hackathon, organized by Bitcoin Association, focused on creating projects that would strongly encourage the new paradigm of earning and using Bitcoin SV (BSV). Participants were tasked to build applications that would allow inventive ways for ordinary users to use small amounts of BSV to gain value.

Winners of 2nd BSV Hackathon announced at CoinGeek Seoul conference

 

The hackathon reached its conclusion at the CoinGeek Seoul Conference, which is taking place from October 1-2. Three amazing projects were presented during Day 1 of the conference, and it was Codugh, led by Shashank Singhal and Andrew Snow, winning the US$20, 000 (paid in BSV) top prize. Hive took second place and US$10,000 in BSV, followed by BitQ&A in third place with US$5,000 in BSV.

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Codugh is a solution designed to address a problem faced by all developers globally—a simple solution to monetize APIs. The platform connects API developers and API consumers, and each time a consumer makes a successful API call, they have to pay a microtransaction. This creates an unparalleled mechanism that encourages new developers to onboard into the BSV ecosystem.

Hive is a “beehive” that connects information added by individuals around the world. Every content node containing the information needs one or more linked nodes and for every link to a node, it has a dynamic cost. The users are notified when new content is added, and the information is fetched directly from the blockchain.

BitQ&A is an application where one can ask a question or answer the ones submitted by other people. Think Quora or StackOverflow with a Bitcoin-based incentive model. BitQ&A could be used as a general knowledge platform aimed at the general population, and also for specialized knowledge sites aimed at niche groups. A bounty is put on a question and payment is required to respond, so it encourages high-quality answers and alleviates spam. Answers are voted on and funds are distributed to the author of the best answer and previous voters.

The 2nd BSV Virtual Hackathon was a huge success and it will only encourage more developers and creators to build creative solutions that take advantage of the power of BSV scaling.

Catch the Day 2 livestream of the CoinGeek Seoul Conference here.

Bitcoin Association Pitch Day recap

In the lead up to the CoinGeek Conference in Seoul, the Bitcoin Association put together a pitch day where Bitcoin innovators were offered 30 minutes to pitch their business idea to a room full of venture capitalists and equity fund partners.

The all-day event featured 14 presentations of ideas and businesses at various stage of development. 

The presentations followed a very structured format to ensure each there were equal opportunities with the investment groups. They would lead with a 15-minute pitch, and then they would have 15 minutes to answer questions ranging from company valuation, questions about their technology and future growth plans.

The presenters included social media apps, smart contracting solutions, payment gateways, and several consumer applications. 

Jerry Chan from the Bitcoin Association commented on the event, “It was very exciting to see all of the innovative ideas coming from these entrepreneurs working in the space and very encouraging to see real business use cases being explored in Bitcoin which focus on its non-financial properties. I expect a lot of new blockchain base developments to spring from this cohort of pioneers.”

The personal standouts were True Reviews and GearSV.

TrueReviews.io is a site that aims to solve the problem of fake business reviews. As consumers are relying less on advertising and more on reviews when making purchases, the influx of “fake” reviews, both negative or positive, are becoming pervasive on consumer rating sites. 

“We were very fortunate to have the opportunity to participate in this exciting event that allowed us to show our product to such a great group of investors and learn what they are looking for when choosing to invest in Bitcoin projects. It is so great to see such a diverse group of investors looking to bootstrap projects in the Bitcoin ecosystem.” Connor Murray CEO of True Reviews

GearSV, presented by Sean Pollock, showcased a smart contracting solution for Bitcoin SV. Pollock comes from the Ethereum world shared his reasons for building his solution on Bitcoin SV. 

What stood out was Pollock’s confidence and his matter of fact approach. He identified a problem and went creating a solution with GearSV built on Bitcoin SV, Unwriters Neon Planaria and Bitbus library. 

Pollock said of the event, “CoinGeek pitch day was a special event. Talented young companies pitching in front of some of the greatest minds and investors in crypto. It was honor to speak about GearSV and the future of blockchain computing. The fully scalable smart contract platform has arrived, and it is built on BitcoinSV.”

Two other very impressive presentations requested anonymity, but considering the strength of their projects, they will become well know when the time is right. 

Speaking on the success of the event, Managing Director of Private Equity for the Ayre Group Paul Rajchgod said, “I think we saw some exciting opportunities to invest in, and though all are at different stages of their development (some are still ‘just an idea’, while others already have revenue and robust growth underway), I think there was a common thread of solid ‘Bitcoin knowledge’ and focus on building their enterprises with BSV at their core.”

Please explore and support the Bitcoin Associations Pitch Day participants sCrypt, Agora.icu, ShowPay, CityOnChain, Calendar SV, Binde, Press Bit, LetsPlay, Wheedl, True Review, GearSV and Yen Point.

If you have an idea or business that is ready for outside investment and want to be considered for future Bitcoin Association Pitch Day event please submit your applications here. (note applications will be accepted again after the conference)

The Ayre Group is always looking for new opportunities. Please send your packages to [email protected]  

Craig Wright, Jimmy Nguyen to speak at upcoming CHAINSIGHTS event in New York

The creator of Bitcoin Dr. Craig S. Wright and the Founding President of the Bitcoin Association are among the speakers in the upcoming CHAINSIGHTS Fintech and Blockchain Summit. The event, which will be held on October 10 in New York will bring together leading minds in the blockchain, tech, legal, academic and finance industries to discuss the future of blockchain technology.

The annual event will be held at the Marriott Marquis hotel in New York. Other than Dr. Wright and Jimmy, the event will feature presentations and panel discussions from industry leaders including former SEC Commissioner Roel Campos, the CEO of OpenFinance Juan M. Hernandez, the Deputy Executive Secretary of United Nation Capital Development Fund Xavier Michon, and David Namdar, a partner at Galaxy Digital Assets and more.

The topics to be covered include the crypto mining industry and the best way to invest, a crucial topic especially with Bitcoin block rewards set to halve in 2020. The speakers will also address blockchain development and investment in China. The Asian economic giant has blown hot and cold regarding the blockchain and crypto industry, and with some of the panelists having extensive experience in the Chinese blockchain industry, this will be a session you don’t want to miss.

The closing keynote address will be delivered by Roel Campos and it will center on the state of blockchain and cryptocurrency regulation. Campos, who served as an SEC Commissioner for five years, will shed light on what the SEC and other regulators have in store for the crypto industry.

The event is organized by ChainDD, a crypto and blockchain news site targeting the Chinese market with more than 2 million registered users. Apart from the distinguished list of speakers, CHAINSIGHTS will also bring together some of the leading companies in the tech and financial services industry including Google, IBM and Morgan Stanley.

ChainDD promises that the event will be “highly interactive, providing valuable opportunities for networking, idea sharing and potential partnerships with some of the most influential players in the field.”

To grab your tickets, head on to Eventbrite and secure your spot.

Jerry Chan: Bitcoin will improve the Internet by bringing value to data

As a newly-appointed executive for the Bitcoin Association, Jerry Chan is confident in the prospects for Bitcoin SV. The former Morgan Stanley and SBI manager has followed Bitcoin through its many incarnations from the early days and says he’s simply guided by the technology.

Whilst Jerry is a strong supporter of Bitcoin SV (BSV) – which is promoted by his new employer – he insists that he’s very “anti-cultism”, in the sense that he just wants to “support the technology that works”. Now, as Bitcoin Association manager for Japan and South Korea, Jerry predicts that the technology behind many of BSV’s rivals will fail.

Whilst the use of Bitcoin for financial speculation has been “the first use case”, Jerry sees the future as very much the merging of the “bit” (data) with the “coin”. “It’s a hybrid – it’s literally a merging of data and value,” he says.“Bitcoin brings value to the Internet, it brings value to data.”

The strategy for Bitcoin SV should be to make sure that the network scales – which nChain is busy with – but to be “completely agnostic” as to its uses.

On the question of private blockchains, Jerry is relaxed about their use by big businesses which only deal with a limited number of outside partners. But he believes that in time, those private blockchains will be absorbed into public chains: “there is room for some private blockchains in those cases, but I believe that if you look even one step further …eventually, you’re going to need one public one to glue them all together”.

“The ownership of data is one of the things that plagues the Internet age,” he says. And data laws need to be clarified. But blockchain solves many of the problems because “the owner of the data is the only one with the keys”. So worries about the responsibilities of cloud companies are largely eliminated: instead,“the liability is on yourself”. You could say ‘you have only yourself to blame’. To that end, wallet security needs to be looked at, with new ways for individuals to look after their crypto keys.

In the near future, Jerry hopes to see a big tech company like Amazon or Google start to use Bitcoin. By eliminating data centres, they could operate more efficiently – doing away with expensive infrastructure. Instead, data would be saved on the secure and “almost free” blockchain. That would be a “really, really powerful” change for business.

It would add up to “a revolutionising of the Internet monetization model”. Instead of the advertising model, users would be rewarded for sharing their data. “Ecommerce is just going to get better. People are not going to have to deal with advertisements; people are just going to sell their data directly.”

Hear more from Jerry Chan in this week’s CoinGeek Conversation podcast:

 

You can also watch the podcast video on YouTube.

Please subscribe to CoinGeek Conversations – this is the fourth episode of the podcast’s second season. If you’re new to it, there are 30 episodes from season one to catch up on.

Here’s how to find them:

– Search for “CoinGeek Conversations” wherever you get your podcasts
– Subscribe on iTunes
– Listen on Spotify
– Visit the CoinGeek Conversations website
– Watch on the CoinGeek Conversations YouTube playlist

Bitcoin Association runs massive BSV network demonstration

Even when put on the spot, the Bitcoin SV (BSV) blockchain has proven that it can handle massive amounts of transactions. It had to recently, when the Bitcoin Association conducted a network demonstration for developers interested in working on the BSV chain.

The two day event was held in Hangzhou, China, with over 100 attending. On September 19, 16 speakers spoke to the crowd about their experiences and hopes for the BSV ecosystem.

On September 20, the Bitcoin Association conducted the Developers Dialogue, with 35 developers attending. Members of Mempool, Weiblock, Cityonchain, Bitmesh, and RelayX spoke to the assembled talent about their projects and thoughts about building on Bitcoin. To stress to the developers how capable the BSV network is in handling large loads, BSV supporter Aaron Zhou was invited. You might remember him from a 2 million transaction test from August 2019.

He was asked to show what the blockchain was capable of once again, and he pulled it off. In a massive demonstration, Zhou fired 700,000 transactions in just under an hour into the blockchain in at 9:00am UTC.

The demonstration can be seen on the blockchain starting at block 600824, where SVPool mined a 33MB block of 127,767 transactions. The final, and biggest block, was mined by CoinGeek, at 97MB and 365,832 transactions.

Lise Li, the Bitcoin Association’s China Manager, commented that while the demonstration was running, the developers chatted warmly, and they discussed the results at the end of it. They were pleased to note that the blockchain was able to handle all of it without a hiccup, and took note of how different mining pools take their own strategies in how they set limits on what they’ll mine.

For anyone invited to attend this demonstration, it’s a perfect example of how the BSV chain isn’t just big blocks in theory or testing, but big blocks anytime it’s necessary. This would be an inspiring show for developers looking to get their enterprise on the BSV blockchain: they’re now certain the BSV can handle their data whenever necessary.

Bitcoin SV Vision: Episode 25

President of the Bitcoin Association Jimmy Nguyen is back with a new episode of the Bitcoin Vision, looking at the latest developments in the BSV ecosystem. In this episode, Nguyen looks at the latest progress in BSV’s journey as it continues to grow towards massive scale adoption, to meet the original whitepaper vision of bitcoin.

CambrianBSV Bootcamp

Many leaders from the development community came together for the CambrianBSV Bootcamp, a week-long intensive program for building on BSV, with a focus on applications generating transactions on the BSV blockchain.

Organized in partnership with the Bitcoin Association, the event took place in the idyllic surroundings of Bali, Indonesia, bringing together top BSV developers from around the world to share their knowledge.

Leading developers spend the week collaborating with and learning from their peers, with representatives from some of the world’s most notable BSV projects in attendance. Throughout the week, workshops from leading developers, as well as live video meetings with academics like nChain’s Dr. Craig Wright, helped the event get off to a flying start.

Nguyen said the Bitcoin Association was delighted to help with the event, and extended the invitation of support to other groups thinking about launching their own BSV bootcamps and events.

2nd BSV Virtual Hackathon

Nguyen discussed the 2nd BSV Virtual Hackathon, ahead of final judging at the CoinGeek Seoul Conference on October 1-2. During the event, the three finalists from the virtual hackathon held in August will be judged by a panel of industry experts plus the CoinGeek Seoul audience, to determine which project ultimately goes on to be declared the winner.

The judging panel for the event will be comprised of nChain CTO Steve Shadders and nChain chief scientist Dr. Craig Wright. They will be joined by Lin Zheming, CEO and founder of Mempool, as well as prolific tech investor and film producer Sam Chi.

Their votes will be combined with a single audience vote to determine which of the projects is the overall winner, and to determine the share of the $35,000 prize fund—payable of course in BSV. 

Ellipal

In a sign of the growing appeal of BSV to crypto users on a mass scale, hardware wallet manufacturer Ellipal announced it has added support for BSV to its leading Titan wallet. A super secure storage system for crypto assets, the wallet allows users to store private keys offline for maximum security, which provides an easy to use interface for a seamless user experience.

According to Ellipal, support for BSV was introduced in response to strong user demand, at a time when more people than ever are choosing BSV as the original and most effective vision of bitcoin.

BitBoss

Ever fancied winning some BSV? Now you can, with BitBoss. BitBoss has introduced the world’s first casino tokens on the tokenized protocol, designed for use in gaming applications.

The tokens mean mobile games can run using BSV or custom casino tokens recorded on the blockchain, with double-sped protection in place to guarantee security. The tokens can initially be used in conjunction with games like lotteries and baccarat, demonstrating the capabilities of the token which could ultimately become a standard in blockchain gaming.

The choice to release on BSV means microtransactions can take place on a low cost, fast settlement basis, allowing for more efficient gaming on the blockchain.

WallStreet5

Notable BSV supporter WallStreet5 is back with another generous donation to furthering the work of the Bitcoin Association and BSV. WallStreet5 previously donated BSV to fund travel costs of developers to attend CoinGeek Toronto, and has repeated the feat with an offer of up 150 BSV in donations to the Bitcoin Association to fund more places at the conference.

Thanks to their generosity, approximately 20 developers, including runners-up for the Hackathon event, will now be able to travel to Seoul for the CoinGeek Conference on an all-expenses paid basis—more than worthy of this episode’s Satoshi Shout-Out.

The CoinGeek Seoul Conference runs from October 1-2. Get 20% off the conference tickets when buying with BSV, plus conference attendees can also take advantage of exclusive discount to the Le Meridien Seoul. Check out this link, select “Group code” at the Special Rates tab and simply type the promo code RE1RE1A to receive the hotel discount.

Bitcoin Association: Call for interest in new BSV Technical Standards Committee

In 2019, Bitcoin Association has so far sponsored two Bitcoin SV Wallet workshops, which have both been very productive. The first in February gave us the new Paymail protocol (to remove cumbersome Bitcoin addresses from the user experience); the second in August delivered a commitment from many parties to contribute to a wide range of technical standards for BSV.

Bitcoin Association would like to open up this workshop process to the wider ecosystem. The reason this hasn’t been done to date has been the need to protect intellectual property arising from the outputs of these cooperative efforts for the benefit of the Bitcoin SV ecosystem. The two prior Wallet Workshops were conducted on the understanding that their work product was kept confidential until such time as the outputs could be assessed for potential patentable subject matter, and if appropriate, filing of patent applications to protect any relevant inventions generated by the workshop. This was done for the benefit of the Bitcoin SV ecosystem, to prevent competing blockchain and technology platforms from using innovations from the workshops.

After the prior Wallet Workshops, we have determined that some patentable inventions were created and filed patent applications to protect them for free use on Bitcoin SV. To date, those patent filings have been funded by and held by nChain with the commitment to license them for free use on Bitcoin SV only (under Bitcoin Association’s Open BSV License). Going forward, any new patentable inventions or other protectable intellectual property arising from Bitcoin Association workshops will be held by the Bitcoin Association and made available for the benefit of the Bitcoin SV ecosystem (i.e. under the Open BSV License). It should be noted that none of the patentable inventions generated from the prior wallet workshops apply to the base Bitcoin protocol. The Bitcoin consensus protocol was defined 10 years ago and is all prior art. The Bitcoin SV commitment is to return to this original protocol and lock it down.

Even though the confidentiality expectation governing the Wallet Workshops has been time limited, it does present some challenges – namely the process of bringing in a wider audience for feedback and review of standards during the design phase is more cumbersome than we would like, and thus limits the contributing audience.

Additionally, we have identified a large range of subjects requiring standards development and we simply cannot achieve them all within the circle of people that were involved in the prior Wallet Workshops. Therefore, Bitcoin Association intends to create an industry Technical Standards Committee (TSC) to address many subjects: governance, people resources, process, and priorities for technical standards that will benefit growth of the entire BSV ecosystem.

It is very important to note that technical standards are not requirements. Bitcoin Association does not expect and cannot require all developers, projects or businesses to use any proposed standards. However, technology history has repeatedly demonstrated the value of seeking agreement on technical standards to fuel industry growth through compatibility.

We have much planning to do in order to establish a framework for this TSC. Whilst that may sound a bit process-heavy, the proposed TSC does require some proper planning to avoid some of the disarray, inactivity, and ineffectiveness we have seen in previous attempts to do this with BSV’s predecessors.

As such, in December, we would like to convene a small group in London to meet for several days and come up with a framework for the Technical Standards Committee. That group will likely also form the initial (but not exhaustive) membership of the TSC and be responsible for its implementation. Representation from across the Bitcoin SV industry is important for a body of this nature to be effective.

We are publishing this to announce our intention to create the TSC, and are now calling for expressions of interest from the wider Bitcoin SV society to participate in the TSC process. In order to be considered eligible, you must able to confidently commit to the following criteria:

• Strong technical knowledge of Bitcoin SV in at least one area (wallets, mining, node development, application development, data services, etc)
• Demonstrated track record of technical delivery
• Demonstrated commitment to building business
• To have both time and interest to take one or more standards or governance projects and drive them forward to completion
• To be able to commit time to attend both workshops and TSC governance meetings in person (travel will be funded by Bitcoin Association).
• Be comfortable with the idea of protecting intellectual property generated from the output of these processes, as long as such as IP is made available for free use only on the Bitcoin SV blockchain.

Bear in mind most of the people involved will be volunteering their time for the good of the wider BSV ecosystem. If you do not have the ability to commit a reasonable amount of time to managing a standards workgroup, you should not apply. Although some of the content of these workgroups will remain confidential to members for a short time, the overall process (and eventually the content) will all be transparently disclosed. Therefore, TSC members will be somewhat accountable to the public for their activity or lack of it.

Key items that need to be resolved at the inaugural meeting in December are:

1. Roadmap of application layer standards to be developed over the next 12 months.
2. Defining an easy process for entry to a workgroup along with easy opt-in to confidentiality requirements.
3. Creating a framework for technical workgroups including roles, responsibilities and operating procedures.
4. Appointing initial workgroup managers.
5. Creating a strategy to communicate workgroup goals and attract appropriately qualified and interested members.
6. The TSC leadership group (once determined) will also be responsible for the administration of further workshop sessions (similar in style to wallet workshops) throughout the year where they are deemed necessary to pushing a standard through to completion and implementation. Please note that logistical support for all of the above will be provided by Bitcoin Association.

We are calling for expressions of interest to attend the inaugural meeting in the first week of December 2019. The travel will be funded. It is intended to keep the working group reasonably small, so we expect that we cannot accommodate all requests. In order to apply, please email your expression of interest to [email protected] with an explanation of the reasons for your interest and your ability to commit time to the processes along with addressing all of the criteria stated above. The deadline for receiving EOI’s is Monday 23rd September 2019 and we will notify you whether your application is accepted within 7 days following the deadline.

Thank you to everyone who is helping to build the BSV. Collaborating together in healthy cooperative competition, we can see Satoshi Vision succeed.