Energy is the spirit of CoinGeek Seoul

CoinGeek’s conference in Seoul has barely started, but its theme is already clear. And you don’t need to understand computer code to get it. Just walk the halls in Le Meridien hotel and you can feel it.

It’s all about energy. The energy in the Bitcoin SV ecosystem. The energy of entrepreneurship in China and the Far East. And the energy in prospect as Bitcoin SV continues to evolve as a technology, with its important Genesis upgrade just a few months ahead.

The energy was palpable in the line of people waiting to get into the sold-out Bitcoin Association meetup at the top of the hotel opposite the conference venue last night. And it’s obvious when you look at the crowded schedule of speakers at the two days of the conference, many of them making their first appearance on the platform that CoinGeek is offering them.

They’re not all new to the game. Some, like Stephan Nilsson, the founder of UNISOT, have spoken before. But ‘regulars’ such as Stephan have come to Seoul with even more confidence than they had at the CoinGeek Toronto conference back in May.

Since then, Stephan has acquired investors, staff and – most important – potential customers who are knocking on his door, he says. His ambition, to provide supply chain tracking using the BSV blockchain, carries conviction because of his previous experience in the industry. Last year he was working out how the salmon industry in his native Norway could benefit from the security and detail that blockchain technology offers. Now he’s working to produce an ‘off the shelf’ supply chain solution that could be used in any industry.

Newcomers were actively encouraged to take part in the Seoul conference by a new feature, Pitch Day, where 14 BSV-based startups were invited to present in front of a panel of investors. One of them, a Chinese startup, CityonChain, was another example of the energy with which the opportunities created by BSV are being taken up in China in particular.

CityonChain invites users to ‘buy’ a city with BSV payments. It offered an empty map of the world and waited for people to start bidding for cities. They did. Many cities were snapped up for one US dollar each – the starting price which CityonChain had set. But it’s what happened next that was interesting. Owners were free to resell their cities and it soon became clear that there were buyers out there. The city of Seoul, for instance (below), was resold after a couple of weeks for $2999 – with CityonChain taking a cut of the transaction. The person who bought Seoul is now asking a $2 million. That’s real optimism! The idea is for city owners to make money by taking advertising and providing other services – such as placing the CoinGeek Conference logo on the map.

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The point, in a wider context, is that people are coming up with business ideas, making money from day one, and expanding the BSV ecosystem. At the same time, they’re generating transactions on the BSV blockchain that will ensure the profitability, and therefore future security, of the network.

Nobody would deny there’s a degree of tribalism in the crypto world. But what feels healthy about the BSV tribe in Seoul is that there’s an outward-looking focus on developing technology and creating new products and services. It’s the users and customers that this conference is interested in, not crypto rivals, or even, how we got here. The energy is directed to building the future. And it’s in the nature of building on BSV, that success for one promotes success for all.

Cityonchain: Build your city, build with BSV

This is a guest contribution by Lise Li. If you would like to submit a contribution please contact Bill Beatty for submission details. Thank you.

Recently, a global commercial application with the name of Cityonchain (CoC for short) emerged in the BSV blockchain network and quickly won a large number of users. Their on-chain transactions have been extremely active.

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The CoC development team is based in Hangzhou in China. At an offline BSV event in the Chinese city of Shenzhen on August 4, CoC project manager Asine introduced this interesting project to the public for the first time. He believes that most domestic and international DAPPs are bookmakers, and that there is a gap for a user-friendly and interactive commercial application that benefits the sustainable and healthy development of the public chain, and that CoC could fill this gap.

“A city is a widespread geographical and cultural concept that is accepted by virtually everyone. CoC could extend this to the magnificent world of BSV blockchain. Here, you could find your hometown, a city that means something special to you or a place where you have always dreamt of going,” Asine said at the event.

With this aspiration and inspiration in mind, Asine and his team of seven embarked on a journey to create Cityonchain – an on-chain world based on BSV – in June. All team members have extensive experience in application development and a profound understanding of blockchain technology. It only took them slightly over a month before CoC was officially launched online on July 11.

At present, CoC has included more than 9,000 cities worldwide. You can find your favourite city and become its proud “owner”, or you can choose to participate in its construction and become a “city visitor”. Here, all players are referred to as Chaintizens, people who can engage in city transactions as well as own and construct cities in the long-term.

 

Moreover, an advertising space and a chat room has been established for each city, where players can exchange local information, make friends and upload beautiful pictures. Some cities have even developed their own unique “personalities”: for instance, a city in Western China once suffered a major geological disaster and the city owner encourages everyone to leave messages in the city and build it into a place where they share their memories and express hope. Meanwhile, another city shares the same name as that of a renowned singer, so its owner has built it into an “on-chain home” for devoted fans. Another city is particularly poor, so the owner has started a charitable cause to raise funds to help liberate people from poverty and improve their quality of life through BSV. It is believed that more scenarios will be developed with CoC, where players could build their own cities with their imagination and creativity, helping to make this platform increasingly diverse.

 

Since July 11, CoC has gained widespread attention and popularity. The CoC team attribute their success to the following factors:

First, the application captures what it means to be a “city” – a geographical and cultural concept that triggers people’s sense of recognition and belonging – and extends it into the on-chain world of BSV.

Second, it creates an experience that is similar to the game ‘Monopoly’. The development team encourage people to “use and earn BSV” on the CoC platform, which creates a fun incentive mechanism. For example, every comment made in the chat room contributes $0.01 to the city owner and every like rewards the commentator $0.07 and the city owner $0.02.

Third, it has the potential to produce quality content. The local nature of cities has made CoC an ideal environment to post regional information and activities. Encouraged by the incentive mechanism, high-quality content tends to reap generous rewards, which in turn generates more quality content. Through this, CoC has the opportunity to become the most valuable hub for local information and the best access to local online traffic.

Asine says that the future CoC will be based on city scenarios and will strive to promote local communities, information services and BSV. It aims to provide more than six major products, including urban communities, city events, an information service, business platforms, OTA and applications. The team are committed to inspiring more general users to “reside” in CoC and become Chaintizens by providing better services. CoC is therefore determined to contribute to a healthier and more active BSV ecology.

You can visit the official website of Cityonchain at www.cityonchain.com. To contact the development team, please send an email to [email protected].

The Bitcoin Vision: Episode 22

In this week’s episode of the Bitcoin Vision, Bitcoin Association Founding President Jimmy Nguyen highlights some of the major developments in the Bitcoin SV ecosystem. Having successfully undergone the Quasar protocol upgrade, the Bitcoin SV ecosystem has rapidly continued to grow, with Jimmy looking at the return of OP_RETURN, CityOnChain and Operation Data Blast.

Nguyen begins by discussing the road to Genesis which is slated for February 2020 and the return of OP_RETURN. Citing a blog post by nChain CTO Steve Shadders on the road to Genesis, the Bitcoin Association Founding President urged all developers to familiarize themselves with what is required of them in the lead-up to the eagerly-anticipated network upgrade. App developers making use of OP_RETURN must ensure that their applications maintain consistent behavior now and after the Genesis upgrade.

“So this is a must-read article for any application developer building on Bitcoin SV,” he reiterates. It not only outlines the history of OP_RETURN, but also the easy steps that will ensure developers can continue to build on the only Bitcoin project that unlocks the true power of Bitcoin’s original protocol, design and Satoshi’s vision.

Next, Nguyen looked at Cityonchain, a new online information platform organized around cities, similar to Craigslist in the U.S. and 58.com in China. The platform allows localized functions such as job posts, trading of goods and even online dating. Users can claim ownership of a city and then manage it, earning BSV for their activities.

For the visitors, they can earn BSV for their high quality content such as reviews of local businesses. This helps encourage higher quality content online and fosters local interactions.

However, Cityonchain does more than that. It contributes to BSV’s new earn-and-use model which deviates from the traditional buy-and-hodl model. BSV users get to earn BSV by interacting with online applications which they can then use to make purchases or pay for services. This model is made possible by BSV’s mega blocks and its extremely low fees which facilitate micropayments.

For the week’s Satoshi Shoutout, Jimmy applauds the efforts of the team behind Operation Data Blast. With the recent Quasar protocol upgrade, the block size hard cap increased to 2GB. On July 28, some BSV enthusiasts conducted a user-activated stress test known as Operation Data Blast. They uploaded meaningful media such as video and audio files onto the BSV blockchain. The result was that over 2.5GB worth of data was uploaded and archived on the BSV blockchain. In four instances, the block sizes were over 250MB, a record for a public blockchain. The stress test proved that on-chain scaling is possible and sustainable on a public blockchain.

While you’re at it, also check out the previous episodes of The Bitcoin Vision here.