“Bitcoin SV is the only project that adheres to Satoshi Nakamoto’s original protocol, design and massive scaling vision for Bitcoin,” Jimmy Nguyen told the audience at the recent Bitcoin SV virtual meetup in India. The Bitcoin Association founding president talked about the history of BSV, what sets it apart, and how its massive scaling is fixing the broken Internet model.
The virtual meetup was organized by Indian digital currency exchange BuyUCoin and focused on introducing the audience to the unique opportunities and only possible on BSV.
Nguyen started off by going through the history of Bitcoin SV, beginning with the Bitcoin whitepaper in 2008 to the scaling battle in 2017 and the subsequent hash war in November 2018. While Satoshi designed Bitcoin to become peer-to-peer electronic cash for online payments, his vision was hijacked along the way. Bitcoin SV has restored Satoshi’s vision and is now showing the world the potential of massive scaling and a stable protocol.
On what sets BSV apart, Jimmy talked about its massive scaling vision and greater data capacity. “We’re the only blockchain in the market that’s massively scaling, and doing so successfully.” This scaling enables BSV to process transactions at very low fees, currently at $0.000083 and as a result, opening up new business models.
BSV has experienced great growth and now supports tokens and smart contracts, he added. With these, BSV is poised to become the one global blockchain that will power the world.
Jimmy explained, “We believe in a world of one global blockchain, just like we operate on one global Internet. To do this you need massive scale, micropayments and great data capacity, which Bitcoin SV offers. Developers are taking advantage of these to create new and exciting innovations.”
He listed a few of the innovative projects being built on BSV, including South African remittance product Minit Money by Centbee; AR and VR platform Omniscape by Transmira Inc.; on-chain social media platform Twetch; BSV-powered supply chain management solutions by Norwegian firm UNISOT; American esports and online gaming company Kronoverse which migrated from Ethereum to BSV and many more.
Jimmy also touched on the success and importance of the recently held CoinGeek Live. The event produced great panel discussions and several announcements from companies that are building global products on the Bitcoin SV blockchain.
He concluded by talking about the importance of India for the growth of Bitcoin. “India is an exceptionally important market,” he stated. With India being one of the world’s largest markets, Bitcoin SV will have a huge role to play in the future, giving Indian entrepreneurs the opportunity to build scalable applications on the Bitcoin blockchain. With its very low transaction fees, BSV will also be critical in availing financial services to the underbanked and marginalized.
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