smart city and Digital landscape in cyber world , internet of things, networks and augmented reality concept

2020 year in review: Bitcoin SV opens doors to new ‘realities’

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Virtual reality, augmented reality and now experiential reality have been some of the most exciting and most heavily-funded emerging technologies in recent years. In 2020, this industry exploded on the Bitcoin SV blockchain, with Transmira and GeoSpock leading the pack. These companies showed just how endless the possibilities are when BSV’s unbounded scalability and emerging technology come together.

Omniscape shows what’s possible on Bitcoin SV

North Carolina-based Transmira, founded by Robert Rice, has been the standout developer of Bitcoin SV-powered experiential reality (XR) in 2020. XR is a seamless blend of virtual and augmented realities, integrating digital overlays, data visualization smart buildings, IoT integration, 5G, spatial computing, AI holograms and more

Transmira got to show the world just what its Omniscape platform is capable of during CoinGeek Live in early October. The virtual event allowed the audience to be actively involved via the CoinGeek Conference AR app, built on Omniscape. Users could scan the room around them for 3D objects, kind of like Pokemon GO. However, with the app, collecting the items had an economic incentive. Each item had a monetary value, ranging from $0.1 to $10 which was credited to a user’s Paymail or HandCash $handle.

Aside from collecting the giveaways, users could also participate in voting for their favorite projects to win the Hackathon—which Repzip eventually won.

In his presentation at CoinGeek Live, Rice explained why his company chose to build on Bitcoin SV:

“Building something like Omniscape must be secure, ensure privacy, and work efficiently in order to be successful as the platform of the future. The very nature of what we are creating has tremendous applications and implications for nearly every industry vertical, and as such, will accelerate the adoption and use of Bitcoin and blockchain in our day to day lives. We are literally putting the world on-chain.”

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GeoSpock brings extreme data analytics to Bitcoin SV

Another project that came to prominence during CoinGeek Live was GeoSpock, a Cambridge technology company that’s bringing extreme data to the Bitcoin SV blockchain. In what was one of the biggest announcements of the event, GeoSpock revealed it had raised $5.4 million in a funding round led by nChain.

GeoSpock focuses on extreme data analytics environments, providing an analytical database that deals with spatial data that’s generated from physical devices. These include IoT sensors, connected cars, street lighting and other interconnected devices.

By 2025, there will be over 41 billion interconnected IoT devices generating 80 zettabytes of data, according to one study. GeoSpock is betting on the Bitcoin SV blockchain to store and analyze this data. The company has been relying on Amazon cloud services, but is now building on the BSV blockchain.

GeoSpock CEO Richard Baker explained why BSV is the only blockchain that can power the world of interconnected devices:

“I think at the heart of what we think about and what powers our vision is, in the same way that google indexes the internet, our role and our vision is to index the physical world, and make it searchable. The opportunity for Bitcoin SV in this context to be the protocol, the infrastructure in the physical world, particularly for transactions, is immense.”

In addition to storing the massive amounts of data, Baker believes BSV is best suited to process machine-to-machine micropayments, with its real-time transactions and very low fees.

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An even bigger year lies ahead

While 2020 has shown what Bitcoin SV can do for AR, VR, XR and extreme data, an even bigger year lies ahead in 2021.

For Transmira, it will be a year in which it will explore the commercial application of its Omniscape platform. The company is looking to work with companies that seek innovative technology to drive experiential marketing, brand engagement and monetization. As Rice revealed to CoinGeek, the company is also looking to work with stadiums, malls, universities, convention centers and other venues to engage their fans and customers, both on-site and remotely.

With its 3D objects ability, the company’s Omniscape platform can be used by almost every other company to interact with its consumers. For instance, consumers can scan virtual goods which they can exchange at a physical store for the real products, or a discount. This kind of engagement is especially crucial at a time of global e-commerce when competition for customers is at an all-time high.

For GeoSpock, 2021 will be a year in which it explores machine to machine micropayments, powered by Bitcoin SV. Already, the company is working with 70 smart city projects in the U.K.

As Baker told CoinGeek, his company is looking to automate day-to-day processes, such as filing up your car.

“We should be able to plug in our car and our car settles for the amount of time that it’s been on the charging station in a public space. That ultimately will become a machine to machine commercial transaction. And I think we see an opportunity here where Bitcoin SV becomes the digital ledger of choice for those types of transactions in the machine to machine economy.”

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New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.

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