David Case: Building games for the Bitcoin blockchain

The Bitcoin SV (BSV) blockchain is a great new platform for all types of businesses, and gaming is no exception. David Case, Chief Architect of Kronoverse, joined our Becky Liggero at the CoinGeek Toronto 2019 scaling conference to talk about how his company is pioneering in blockchain gaming.

To understand what Kronoverse is all about is to really understand how the blockchain can be used for amazing new things. “So Kronoverse is a platform that allow game developers to build video games where every action gets played out and recorded on the Bitcoin blockchain,” Case explained. “Which allows people to to be able to stream live games in a Twitch like fashion, but while actually watching the data, not by watching a video of it. And also go back watch historical games as they play out. We provide a number of services that enables developers to do that pretty easily.”

Kronoverse is already working on its first offering, and its following a concept that most gamers should be very comfortable with. “CryptoFights is kind of our first game that we’re building on the platform, and building the platform for as well,” he said. “So CryptoFights, you will create fighter, and that’s like any game. Your character creation: you say what you want their hair to look like, what color you want their skin to be, all that kind of stuff, what gender they are, what race they are, elves, dwarves, humans. So you configure your character, and then we also have other tokens that are weapons, armor, and those all exist as tokens on the blockchain.”

“And so you put your character, your fighter, into battle with those tokens that you own, and we validate that you own those tokens that you own, then you fight against each other. And the stats of your character and your weapons affect the outcome of the battle.”

Kronoverse announced they would build on the BSV blockchain in May, and Case explained that it was an easy choice. “Really, BSV is kind of our only choice at this point,” he said. “I mean, it solves all sorts of other problems, build all sorts of other toolings, and the scale, and just being able to rely on the commodity blockchain, that we don’t have to worry about how to solve the consensus aspects, but yet having the scaling and the cheap transactions, it’s just our only choice.”

Liggero asked Case how gambling and esports could work on a Kronoverse platform. “There’s all sorts to figure out how the proper way to legally structure that is,” he respond. “But because everything is fully auditable, and is recorded on the blockchain, so first of all its really easy to let players wager against each other, and actually contribute as part of their Bitcoin transactions, contribute the funds that are going to be used to pay out at the end of the battle.”

He also sees new opportunities due to the public nature of BSV, making it an easier system to work with than other esports have had access to. “There’s also all sorts of other opportunity for external, third party people to watch what’s going, and place their own wagers, their own outcomes,” he noted. “That’s completely outside of us entirely, it’s just this data is being recorded. If you can follow our protocol, and follow all the code, and the code all lives in the blockchain itself as well, so everything is completely open. All the rules, everyone understands what’s going on because it’s all out there in public. So people can implement and interact with that data in any way they want.”

Brad Kristensen: Scaling Test Network makes big blocks a reality

The massive blockchain scaling that’s happening on the Bitcoin SV (BSV) network doesn’t just happen; it takes a lot of work. To help guarantee it works well when changes come to the mainnet, the development team have the Scaling Test Network (STN). Brad Kristensen, Software Engineer at nChain, joined CoinGeek’s Becky Liggero on Developer Day at the recent CoinGeek Toronto 2019 scaling conference to explain the importance of the STN.

The STN isn’t just a sandbox for the Bitcoin SV Node Team to play in, it has important roles to play in the development of BSV. “The Scaling Test Network fourth compatible network for the SV node,” Kristensen said. “It’s important for the ecosystem because it helps the SV node developers get a direct feedback loop on what they’re working in. So they produce the next set of changes, they run it on the STN, the STN provides immediate feedback thanks to the large transaction volume and the large amount of blocks, as to whether they’re making the right move forwards, or in some cases, backwards.”

What’s coming next for the STN is some of the biggest innovations for the BSV blockchain, but as Kristensen told Liggero, he also hopes to see greater participating from the business world. “I would expect to see all of the big leaps forward that Bitcoin SV makes would happen first on the Scaling Test Network,” he said. “We’re hoping to get more businesses running on the Scaling Test Network, testing their applications, building their applications. It’s really supposed to be the onramp and playground for Bitcoin SV and the insight of to what’s coming to Mainnet.”

That’s not an impossible ask either. The STN was opened to businesses in April, and interested groups can get in touch with nChain to start trying out their own business use cases and applications to ensure they are ready for the next phase of the BSV blockchain.

As 2019 is the year of blockchain scaling, Liggero asked what role the STN play in achieving huge blocks. “We make sure it can happen,” Kristensen said simply.

James Belding: BSV Smart contracts can help businesses of all sizes

Tokenized is using the massive scaling of the Bitcoin SV blockchain to introduce a world of possibilities for individuals and enterprises alike. To explain its recent ramp up and where it’s planning to go with future plans, its founder, James Belding, joined our Becky Liggero on the sidelines of the CoinGeek Toronto 2019 scaling conference.

As Belding has said before, a big game changer for Tokenized’s progress has been the expansion of the OP_RETURN payload limit, which had previously constrained them. ”We just couldn’t get what we wanted into the transaction, not enough size,” he said. “But the moment the restriction was lifted, then we had open season, we could finally fulfill the vision that we always wanted to do. That happened in February I think, and ever since then we’ve been scrambling to catch up and deliver on the promises that we had.”

The potential uses of having a law abiding token system on the Bitcoin SV (BSV) blockchain are vast, and Belding spelt some of them out for Liggero. “You’ve got your obvious token examples at multiple work now, like your financial instruments, I mean silly tokens like movie tickets, admission tickets things like that, and they offer a real significant value proposition compared to what you can do today,” he said. “But there’s much, much more that will start to be revealed and the smart contracts that we have today can be tools for governance.”

Applying tokens to enterprise governance is a truly exciting prospect, and one that will make BSV an exciting prospect to mom and pop shops and multi-national corporations alike. “When you get to the bigger levels you got lawyers to help you out and take care of administrative, but if you’re a smaller company and medium size company, it’s a tremendous amount of work, administrative work,” he explained. “A lot of little rules you gotta follow and it’s easy to forget and not do them in time, and do them in the right sequence. A smart contract can have all the rules built into it, so it can basically guide you like safety rails to make sure that you do in the right sequence. You sign it properly, it’s all done. And then of course it’s immutably stored forever on the chain right so that you don’t have to worry about managing your contracts, where do you keep them, where to keep your backups, how long if you keep them”

Liggero asked Belding what the longer term plans are for Tokenized, and the answer was to widen the appeal of tokens through applications. “Basically we’re building a full desktop app, as well as a mobile app, to basically do all these features,” he revealed. “So it’s gonna be designed for everyone. I think it’s more it’s like an iPhone right? Like business people use iPhones, regular people use iPhones, all the features you want to talk to people and all that stuff it’s the same. When it comes to management contracts and your finances, the things the same. Sometimes it gets a little more complex to the analysis and things like that, enterprise, but foundationally, it’s the same.”

Kate Hiscox: Providing institutional financial tools with Bitcoin SV

Institutional investors and banks will play a key role in driving adoption and finding huge uses for Bitcoin. Kate Hiscox, CEO of DRIVE Markets and DRIVE Pay, is focused on providing services on the Bitcoin SV (BSV) that can bring these groups into the fold. She spoke with our Becky Liggero at the recent CoinGeek Toronto 2019 scaling conference about how she’s achieving that goal.

DRIVE started with DRIVE Markets, a product which Hiscox explained, is attempting to provide all the tools institutional traders have become accustomed to, but for cryptocurrency trading. “DRIVE Markets is really designed to bring traders over from the forex markets to trade crypto,” she said. “Forex traders can make a lot more money trading crypto. But they’re used to certain tools. They use high frequency algos (algorithms) for trading and so on, so DRIVE Markets is built to offer them that experience.”

So far, it looks like it’s been working out, and DRIVE is growing as a result. “I’m very happy to say our volume’s doubled since we opened just last month,” she told Liggero. “Very, very exciting. DRIVE Markets, you’d more liken it to, say, BitMEX versus a Binance, for example.”

Where DRIVE is looking to make a huge difference is by providing an evolved cross border payment system for banks. “DRIVE Pay, we saw an opportunity, something really that Ripple established, and showed to everybody that there’s an opportunity to improve cross border payments through efficient clearing and settlement,” she said. “Ripple is great, but we felt it created some unnecessary bottlenecks by not using existing banking systems, and in particular, SWIFT. SWIFT is used by more than 10,000 banks in 200 countries. They send 30 million messages a day. So all the banking systems speak to it. So DRIVE Pay operates in a very similar model to Ripple, but instead of using our own sort of unique payment messaging system, we’re actually using the same schema as SWIFT.”

As opposed to Ripple, which needs banks to totally adapt to a new system, DRIVE Pay is playing into their strengths. “So that means, for more than 10,000 financial institutions around the globe who want a solution, it would be very easy for them to adopt DRIVE Pay” she explained. “And that’s to say, it’s really for bank wires right now, could take up to 24 hours and more actually to be transmitted cross border, with DRIVE Pay, you’re about to do it in seconds, and again, very easy adoption for clients, because we use the SWIFT network.”

The choice to work with BSV came down to plenty of reasons, and as Hiscox explained, it just made a lot of sense for their needs. “Bitcoin SV have proven they have an enterprise mentality,” Hiscox explained. “They can deal with the kind of scale that we expect DRIVE Pay to deliver. We felt pretty good about their coin as a bridge currency in the same role as XRP is for Ripple. And they’ve just been a tremendous partner.”

Joshua Henslee: Making Bitcoin SV the choice for business

Persuading businesses to put their data on a public blockchain shouldn’t be a big deal, says Joshua Henslee. After all, it’s not long since they overcame their objections to storing their data on cloud servers instead of locally on their own computers.

Joshua is an IT professional from California who mostly works with Microsoft products. He believes the future for his clients, and for his own success as a consultant, lies with blockchain solutions using Bitcoin SV (BSV).

Joshua’s nightmare would be persuading a client to adopt a blockchain solution and then finding there were problems because there were too many transactions to process or fees rose: “That would be catastrophic.” But he is confident that BSV is now capable of providing the kind of service that he’d be happy to recommend to his clients: “I do think that we have the technology, with the recent developments over the past four or five months on the BSV chain.”

While private blockchains may sound appealing to cautious businesses, Joshua believes they’re not worth investing in. They’re effectively adding IT resources to business costs, whereas a public blockchain like BSV could produce savings throughout the business: “You’ll be able to streamline business processes such that you’ll have cost savings elsewhere. So even though you’re adding a tiny bit of cost, you’ll more than recoup that and have gains in other parts of your system — financial, supply chain, communication with vendors.”

With IBM, Microsoft, and now Amazon, all announcing their own blockchain products, “If BSV does start making moves, [the tech giants] will be victims unless they adapt and start to use it …It’s going to depend on how quickly they adjust.”

Out of all the possible public blockchains, Joshua believes that BSV has some unbeatable advantages: “One is the Metanet concept — the idea of putting data on chain and having users take control of their data. To me, it’s an upgrade on the way the Internet works today. It just makes sense.”

The BSV ecosystem is growing spectacularly, with new tools to help developers, especially those created by the anonymous and prolific inventor, Unwriter.“Unwriter’s tools have taken people’s excuses away,” says Joshua. “Even at the conference in November [2018], I was complaining that we don’t have tools to do some of this stuff …Ever since new year, all this stuff came out — it just makes it easy, so now all these ideas that people have can be implemented.”

In the immediate future, Joshua is trying to persuade his colleagues to take a serious look at BSV: “My goal is to demonstrate to my company how Bitcoin can be used, integrating with systems in a way that streamlines business processes and overtly reduces costs.”

Hear the full interview with Joshua Henslee on this week’s CoinGeek Conversations podcast:

You can also watch the podcast video on YouTube.

Please subscribe to CoinGeek Conversations – this is episode 29 of a weekly podcast series. Just search for “CoinGeek Conversations” wherever you get your podcasts, subscribe on iTunes, listen on Spotify or visit the CoinGeek Conversations website.

Calvin Ayre: Bitcoin scaling is always important

Calvin Ayre, founder of CoinGeek and Bitcoin ambassador to the world, has seen the potential of Bitcoin for many years now. Thanks to its return to its original protocol, and a focus on massive scaling, that potential is now becoming a reality. He joined CoinGeek’s Becky Liggero at the CoinGeek Toronto 2019 scaling conference to talk about the great achievements he’s now witnessing.

As he’s previously made clear, scaling is the focus of Bitcoin in 2019, and it’s achieving it in spades, with the Quasar protocol upgrade increasing maximum block sizes to 2GB. “I want to quote Dr. Craig ‘Satoshi Nakamoto’ Wright. ‘Scaling solves all problems,’” he told Liggero. “But scaling isn’t important only right now, scaling is always important. But if you look at it from a perspective of whether scaling is important now versus later, of course, sooner is better. But the reality is that scaling solves all problems. Craig said it could scale, Craig said Bitcoin, as originally invented by him, was born to scale. They said it couldn’t be done, and now we’ve proven it. And I think that’s what’s creating all the excitement.”

Dr. Wright has been steadily working to prove he’s the real Satoshi Nakamoto, and he’s proving that fact to new people every day, but more still needs to be done. “I think there’s people out there that still don’t feel that it’s been proven to them, but he’s proven it to me, multiple ways, multiple times over the last few years,” Ayre said. He added:

So, I’ve been saying that he’s proven it to me. What’s happening is more people are feeling that he’s crossed the proof threshold. But ultimately, the only way to really prove it, and will be accepted by all the people that matter in the world, and I’m not talking about the trolls, they actually do no matter, but all the people that matter are waiting for him to prove it in front of a respect arbitrator. And that’s why he’s attempting to get his facts into court, and letting a judge review them because the judge is going to come to the same determination as I did when you review all the material, which I have done.

Dr. Wright’s commitment to restore the original Bitcoin, now represented by Bitcoin SV (BSV) promises to provide real utility in peer to peer money and data ledgers. Unfortunately, some still fail to understand what Bitcoin was always meant to be. “Why is it so hard to understand?” Ayre asked. “I mean, people are out there saying that Bitcoin SV is not the original protocol, but in fact, it is. It’s the one that follows the white paper exactly. It’s Craig getting a branch of the original Bitcoin blockchain to go back and conform to the original white paper.”

That original vision of Bitcoin is now proving to be quite potent, and it’s a credit to Dr. Wright’s original work on the Bitcoin whitepaper. “What an amazing testament to how brilliant Dr. Wright is that people said that things couldn’t scale, they hadn’t figured the technology out, and all you had to do is go back to the original one that he invented ten years ago, and all of a sudden it works,” Ayre remarked.

Bitcoin has made a remarkable recovery because of this return to form, and CoinGeek Toronto 2019 was a celebration of unleashing the power of BSV. While Ayre himself is a huge reason for the conference being a huge success, many people contributed to the event that would give a voice to the real supporters of Bitcoin. “Because of the way the trolls have taken over the narrative online, it was important to create a parallel universe of people who wanted to focus on the technology,” he said. “And that’s what we’ve created here. And this is developers day, tomorrow is the main conference day. This conference revolved around the world, it will be in Seoul next, it was in London previously, Hong Kong before that.”

Thanks to CoinGeek conferences, the people who really matter can learn about and work on Bitcoin, and build something useful for the world. “This is an event for people to get together and talk about the technology, and what you can actually do with it,” he noted. “Applications that can be built on top of it. This isn’t about talking about the nonsense of speculating on tokens that have absolutely no reason to exist. This is about real technology that can solve real problems for people and hopefully, improve the lives of people.”

Steve Shadders: Bitcoin’s Quasar upgrade to return power to miners

The Quasar protocol upgrade is set to unleash new limits for the Bitcoin SV (BSV) blockchain on July 24, increasing the maximum Bitcoin block size to 2GB. To explain the ramifications of this update, Steve Shadders, Technical Director of nChain, joined CoinGeek.com’s Becky Liggero. 

An important thing to recognize with Quasar is that it is an important step in Bitcoin’s path to returning to its original vision and protocol. “It’s kind of a preparation for the Genesis upgrade next year, so the key change in this particular protocol upgrade is a change in the default block size,” he said. “The default is being raised from 128MB to 2GB. Miners, however, are intending to manually set the limits, their own hard caps, to 512MB.”

Liggero asked why miners would opt to set a lower maximum cap limit on their blocks. “Simply because it allows the miners flexibility to exercise the governance role that they’re supposed to play in the Bitcoin block size,” Shadders replied. “The instances of Bitcoin SV that are not actually involved in mining, we refer to them as blockchainers, because they don’t actually write the blockchain, they don’t really have any influence over the maximum size of blocks that are being mined, but they still have this limit in place temporarily, for another six months or so, that governs what they will accept.”

Allowing the miners, rather than developers, to indicate their block size preferences is part of what Satoshi Nakamoto originally envisioned. “It allows the miners flexibility to raise their limit later on from 512MB to 1GB, or 1.5GB, or any number in between, and all of the other listening nodes are going to accept those blocks,” Shadders explained. “So it’s very important, I think, from a cultural perspective in Bitcoin because what we’re trying to do is shift the responsibility for block size governance away from developers and put it into the hands of miners.”

As Bitcoin moves towards its Genesis upgrade, Quasar will help miners re-learn the skills they need for the ecosystem. “So there will be two potential consequences of this,” Shadders offered. “The first I mentioned before which is the miners beginning to take a very active role in choosing the maximum block sizes they accept. But also, as miners start to do that, until they get kind of into the perfect sync on the next number up, what we will start to see is more orphans on the Bitcoin blockchain.”

Orphan blocks have been a bit of as sticking point, as the cryptocurrency world has come to assume that they indicate a problem; but that’s simply not true. “This has been something that’s traditionally been considered to be a bad thing in the history of Bitcoin, but it’s a bit of a misunderstanding because the simple fact that orphans can occur is actually a part of the core design,” he explained. “It’s the disincentive for Miners not to be in sync with other miners, it’s the disincentive for them to be recalcitrant about upgrading their hardware, their capacity, etc. So the whole ecosystem needs to kind of start getting used to the fact that this is a normal part of Bitcoin life.”

The important thing to not forget though is the new capabilities Quasar will unleash for Bitcoin. “We’ve taken away all the barriers to potentially being able to break the 1GB block limit,” Shadders said. “We’ve already seen blocks greater than one gigabyte. That’s a huge milestone because it’s a thousand times the limit that the other Bitcoins are working with. And it really shows that Bitcoin can actually scale.”

That ability to scale the blockchain, and become the public data ledger that big enterprises need to evolve their business models, will be a game changer, and what Bitcoin was always meant to do. “I think big data transactions we’re always meant to be part of the way that Bitcoin works,” Shadders concluded. “Satoshi’s original design allowed for 4GB transaction, a single transaction, not even a block. So being able to handle that kind of scale, volume of data, is just one of the requirements of Bitcoin.”

Osmin Callis: How nChain can promote global trade with Bitcoin SV

nChain is the London-based research powerhouse behind Bitcoin SV (BSV). Its mission is to “ignite global adoption and enterprise-level usage of Bitcoin.” To make that happen, nChain has set up a professional services unit to reach out to businesses and encourage them to design and implement blockchain projects, with Osmin Callis as its Business Development Manager.

While the company’s engineering team are responsible for developing the node software for BSV and the additional components that would allow businesses to connect to its blockchain, the research department develops nChain’s intellectual property portfolio—which is probably the largest in the world for open blockchain, Osmin says.

Then Osmin’s professional services team take the research output to work with businesses, commercialising the company’s intellectual property portfolio. “We have this treasure trove of ideas, of possible future applications,” Osmin says, “Things which are disruptive, which change the way we understand areas of technology that we take for granted today.”

When working with businesses, Osmin says, they have learnt to go easy on the tech discussions: “Experience has shown us that it’s of less value to talk about some of the more granular features of the technology in front of someone’s who’s responsible for making business decisions. It’s really about making sure the message fits the audience.”

Osmin says that nChain is in it for “the long game” and so while a meeting may not immediately result in a project, “Hopefully it’s contributed to the betterment of the ecosystem. If we’re too aggressive in trying to capture market share, it’s not necessarily to the benefit of all.”

One piece of conventional wisdom that nChain fights against it the idea that private blockchains are appropriate for enterprise while public blockchains are best for government or other entities. But “it’s really not as straightforward as that,” Osmin says. nChain believes BSV is always the best solution and the idea that enterprises can take “baby steps” by embarking on a private blockchain project may prove to be a waste of time and money. “In the long term, we know we’re all going to end up connecting on the same medium—the same blockchain.”

One advantage for a business of moving straight to the public blockchain is that if it wants to move from data to payments, then the currency aspect is already built into BSV, instead of having to be “bolted on” to a private blockchain.

In the immediate future, Osmin’s team is focussing on two sectors: financial services and online gaming—whether gambling or platform games. In financial services, “we’ve been getting a lot of interest from central banks” in Europe and West Africa. Some of these have “expressed a significant interest in the possibility of creating their own digital currency, using a base currency such as Bitcoin SV.” With a system utilising their own protocol on BSV, a bank would be able to control the money supply “in exactly the same way as they would do today.”

If this all goes according to plan, nChain will be contributing to fostering and promoting global trade. “The ramifications …are many and varied and I think it’s exciting because we have yet to discover what all of those things will be and what it’ll bring.”

Hear the full interview with Osmin Callis on this week’s CoinGeek Conversations podcast:

You can also watch the podcast video on YouTube.

Please subscribe to CoinGeek Conversations – this is episode 28 of a weekly podcast series. Just search for “CoinGeek Conversations” wherever you get your podcasts, subscribe on iTunes, listen on Spotify or visit the CoinGeek Conversations website.

Dr. Craig Wright on the accountability of Bitcoin, Metanet incentives

Dr. Craig Wright on the accountability of Bitcoin, Metanet incentives

The celebration of Bitcoin, now reborn as Bitcoin SV (BSV), was fully on at the CoinGeek Toronto scaling conference. To discuss where Bitcoin is headed now that it’s been unleashed with massive scaling on the blockchain, its creator himself, Dr. Craig Wright, joined CoinGeek’s Becky Liggero.

The Toronto conference was a key point in Bitcoin’s history, and Wright was happy to see the crowds gathering to celebrate its history, and momentum going forward. “It’s good to see the energy and the vibrancy of the place at the moment,” he said.

Now that BSV is ready to follow the original vision of Satoshi himself, Wright expects it to bring a respectability to digital currency. “Bitcoin is an immutable evidence trail,” he explained. “It is a single global ledger. Once we roll it out, we’re going to make fraud expensive, fraud difficult. We’re going to make it so that people can actually trust money, trust negotiating with people. Because there’s no way of getting away with something bad, there’s a record kept of everything.”

With nChain recently having proven that the blockchain can scale as massively as they want to, Wright was in a very good mood. “Well, as Jimmy would say, ‘I like big blocks and I cannot lie,’” he said. He went on to explain where the team is currently at in their scaling milestones:

“We are now able to get to a point where, at 1.4GB, we stopped doing the testing not because we were running out of capability with the node, but we have to let some of the environment and the infrastructure catch up. So the block explorers and other things like that were having problems. It’s not actually our nodes that are not at that level, they were getting to 1.4GB fine, but the ecosystem needs to start realizing that they need to increase capability as well. So we’re letting them catch up a little bit.”

Wright used some of his time on stage at CoinGeek Toronto to talk about the rise of the Metanet, the BSV replacement to the internet. Development is coming along quite well, he noted. “We seen yesterday Ryan [X. Charles] was talking about identity systems now that can be built into Bitcoin and blockchain,” he noted as an accomplishment. “And we will have documents and blogs and training materials starting to come out from nChain, so that people can start building and developing the incentivized version to replace the internet. The new way of doing things.”

The key thing that will drive the success of the Metanet is the economic model it creates that improves on the current internet. “Not a system based on popularity like Google where it’s really about selling advertising,” he was keen to point out. “So you don’t care about the value of what you’re advertising, you care about how many hits. We want people to get value for their money. So they don’t go to the site just because lots of people do; they go there because it has the best information. Something that is actually good.”

Ina Samovich: Building Bitcoin solutions to businesses needs

Ina Samovich: Building Bitcoin solutions for business needs

Building business adoption for Bitcoin use is about providing them an upgrade over existing payment options, but also providing them features that fit their use cases. CopPay, the Belarus crypto payment solution firm and Bitcoin SV (BSV) supporter, is finding new ways to do this, and their CEO, Ina Samovich, joined CoinGeek.com’s Becky Liggero to talk about how they’re getting this done.

Understanding a company’s needs is key to understanding how Bitcoin can help improve their business model, and that’s where CopPay comes in. “Our first priority is working with businesses, so we create the bridge between traditional economy and Bitcoin, and helps businesses to incorporate Bitcoin into their business activities,” Samovich explained. “So they can accept Bitcoin in their daily operations, and they can also use Bitcoin in order to pay their clients and partners.”

Liggero asked the CEO what is it exactly about CopPay’s product that makes it easier for clients to accept crypto payments with. “It is always available,” Samovich explained simply. “Our platform is available 24/7, and they can always go online and create orders or create requests to accept Bitcoin, so it is really easy if they are online and just connected to our platform.”

Even if options like BSV provide a superior experience, many decision makers will want to settle their accounts in fiat at the end of the day. Liggero asked if that was an option with CopPay. “Yes, of course,” Samovich replied. “This is what we do. We give opportunity to businesses to accept Bitcoin, but they would receive euro or other fiat currency to their bank account.”

CopPay has supported BSV for some time now, and that’s because they believe in its future. “This is a great blockchain that has lots of potential, and seeing that its working on building this blockchain further on, it’s solving many issues that businesses have right now in Bitcoin adoption,” she noted. “So we believe that we actually, very soon, will have a great blockchain that will help businesses to solve those issues.”

The next big thing from the payment provider isn’t something Samovich could elaborate on, but it’s going to be something the business community is clamoring for. “We basically extending our businesses in providing more futures, in terms of business needs, we ask our clients what they want to see in our platform,” she said. “We just need to extend those features we already have to more clients so they aren’t afraid to use Bitcoin.”

Centbee's Lorien Gamaroff on how to get people on board Bitcoin

Centbee’s Lorien Gamaroff on how to get people on board Bitcoin

There is always a lot of activity going on behind the scenes that most cryptocurrency fans don’t see. The idea is to develop the industry to make adoption easier and more widespread and this is best facilitated when multiple minds can get together and collectively discuss what’s going on. Lorien Gamaroff, the co-founder and CEO of the Bitcoin SV (BSV) wallet Centbee, recently traveled from his home in South Africa to London for that very reason, and took a few minutes to discuss what’s going on with CoinGeek’s own Becky Liggero in a short interview.

As everyone understands, one of the most important aspects of crypto is having it accepted on a large scale by both retailers and consumers. Gamaroff and Centbee are working hard to help this onboarding process and recently launched a system in South Africa that allows any retailer to sell BSV over the counter. Consumers can select the amount of BSV to purchase using fiat and the merchant delivers a Centbee-generated bar code that can be scanned to allow the completion of the transaction. As Gamaroff indicates, the opportunities for South African crypto adoption are phenomenal.

The executive traveled to the recent Bitcoin Association wallet workshop, which was held in London. It was a long journey, but one that Gamaroff asserts has tangible value. It offered the participants the ability to pool their resources and put their collective expertise to work in order to brainstorm and make the Bitcoin space better. In addition to nChain experts, minds behind Bitcoin solutions such as HandCash and Money Button, among others, were on hand. Gamaroff explained, “There’s a lot of valuable insight that all the people here have and it’s very important to share that. We are all specialists in our own way and sometimes it’s very easy to get, kind of, tunnel vision, focus on your own thing. What we’ve been able to do here is share ideas, share experiences, things that we’ve learned, mistakes we’ve made and being able to benefit from all that valuable insight and being able to share all that.

That interaction will also prove beneficial as the different Bitcoin developers begin to work toward evolving Bitcoin even more. There will be greater accessibility, enhanced tools and services and more that will all make it easier for developers to create their applications, which will help promote consumer adoption.

For the first time, CoinGeek is taking its popular CoinGeek Conference to North America. CoinGeek Toronto will be held May 29 and 30 at the Carlu and everyone is invited to come out and see what Bitcoin is doing and how the ecosystem is evolving. This will be an awesome opportunity to be among some of the greatest Bitcoin minds and to learn more about the future of crypto and blockchains is going to bring.

Jimmy Nguyen: We should use the delisting of BSV to argue for better regulation

Jimmy Nguyen: We should use the delisting of BSV to argue for better regulation

News that crypto exchange Binance was hacked, with 7000 Bitcoin – currently worth almost $41 million – stolen in a single transaction, highlights the need for tighter regulation of crypto exchanges.

Regulation was also the subject of an interview with the President of the Bitcoin Association, Jimmy Nguyen last week, in the light of recent decisions by a few exchanges to delist Bitcoin SV (BSV).

“The big lesson we’ve learnt [from the delisting episode] is how the cryptocurrency world as a whole needs to grow up and professionalise,” said Jimmy.

The delisting decisions of Binance and Kraken “had nothing to do with technical issues with BSV or its network” Jimmy said. “It all had to do with dislike of Craig Wright, a key backer of BSV, and his choice to invoke legal remedies to pursue libel claims against certain people who he believes have been defaming him online.”

The delistings raise wider, long-term issues, Jimmy believes: we don’t want a world in which “the CEOs of a couple of powerful exchanges …could negatively impact the worldwide market for an asset on their exchange and others just because they don’t like one person.”

It’s a “perfect example of why we need more regulatory oversight”. Jimmy acknowledges that the exchanges are private businesses and so, in some sense, can do as they choose. But he says their freedom is limited by the fact that “they create and influence the public markets for investment …The cryptocurrency world wants these assets to be treated seriously, as alternatives to money for example, and if that’s what we want, then exchanges …need to be held to reasonable standards.”

Jimmy criticised as “absolutely ridiculous” the use of Twitter polls as a factor in delisting decisions. He called for “objective criteria” in making such decisions, and on regulators to “be looking at exercising more regulatory oversight to make sure crypto exchanges can never do this again”.

He said that while some jurisdictions, such as the EU or the USA might take the lead, there would be no need for all territories to agree on exactly the same standards – just as there is variation in other kinds of financial regulation. It’s not the blockchains, but the companies that use them that should be the focus of regulation. In making decisions about which currencies to list, exchanges could use criteria such as trading volume, hash rate and the level of application development for example.

As President of the Bitcoin Association, Jimmy said he has already been in touch with regulators. He’s been asked to review a number of proposals from different countries in recent months for digital asset business regulation.

“Let’s be honest, we need to create more confidence for financial institutions as well as the ordinary consumer, to invest in and use cryptocurrency. Everyone in the crypto world should want that.”

Jimmy highlights the recent story about the New York Attorney General’s Office bringing a case against Bitfinex and Tether as also showing the need for regulation. Depending on the outcome of that case, it may be found that “a lot of our current cryptocurrency market is inflated with purchases that aren’t really backed by funds.”

Jimmy said it’s “ironic” that no exchanges have suggested delisting Tether over what is potentially – and he acknowledged that this has yet to be decided in court – “massive fraud in the Tether/Bitfinex ecosystem”. And yet the exchanges that delisted BSV were doing so on the basis of Craig Wright simply using due legal process to defend his own rights. “That hypocrisy is staggering,” Jimmy says, “and it’s exactly the kind of exchange environment we should not have”.

To achieve mass adoption, the ordinary consumer needs to feel safe. “BSV may have triggered the controversy …but what we’re urging in terms of more regulatory oversight and a compliance regime is going to be good for all participants in the cryptocurrency world.”

New exchanges that are specially designed for BSV will be one of the subjects under discussion at the CoinGeek conference in Toronto at the end of May. Please join us there to continue this debate.