Buy food, not hype: BSV’s real-world utility over super apps

Getting your Trinity Audio player ready...

In this article, Marquez Comelab contends that the real measure of a digital cash system like BSV Blockchain is its capability to address fundamental human needs, specifically the universal need to eat.

Some in the BSV Blockchain community believe that the key to BSV’s success lies in developing a super app—complex, high-tech applications aimed at niche markets. However, in this article, we contend that the real measure of a digital cash system like BSV is its ability to address fundamental human needs, specifically the universal need to eat. We argue that focusing on the food industry and using BSV to facilitate food purchases offers not only immense profit potential but also a significant opportunity to enhance global welfare. This approach, we believe, represents the true, most impactful use case that should be nurtured and expanded within the BSV Blockchain ecosystem.

In the lively world of social media like Twitter, now X, where digital currency discussions flourish, a common narrative often surfaces among BSV enthusiasts: the need for a groundbreaking “super app” to ensure BSV’s future success. However, I firmly contest this view. The true essence and success of BSV lies not in futuristic applications but in its fundamental capacity to meet our most basic needs—specifically, the need to eat.

BSV excels primarily as an efficient and universal form of digital cash. It boasts nearly negligible transaction fees—mere fractions of a cent—and the ability to settle global transactions within approximately ten minutes. These features alone embody the ideal characteristics of digital cash, offering the freedom to transfer funds globally without the burdensome fees and delays typical of traditional banking. The ability to facilitate transactions anywhere, anytime, is not just a convenience; it is a lifeline.

Despite this, segments of the BSV community remain enchanted by the potential of a “magical app,” perhaps overlooking the real utility already at our fingertips. Yet, if we consider the intrinsic role of money in society, its primary purpose is clear: to enable the purchase of essentials, predominantly food. Money’s most significant utility has always been its ability to provide sustenance. Therefore, digital cash, like BSV, is most successful when it can be used directly to purchase food. This is not merely an economic issue, but a matter of survival.

Imagine a typical music festival, such as the one I attended on a Belgian beach last year, where thousands of attendees used digital wallets linked to wrist-worn QR codes to buy food and drinks. The first use of QR codes as part of a payment process I saw around 2015 was the use of QR codes for Bitcoin addresses. Bitcoin was ahead of the existing payment methods at the time, but because it was intentionally slowed down and hijacked by corporate interests to stall its progress, as I described in a previous article/video, it pains me to see that initiatives like this are still using fiat currencies with all the costs associated with using it. Over three days, this system facilitated daily transactions totaling $252,000 solely from sales of food and drinks.

For those who say not to bother with these ‘boomer’ type of business models, as opposed to some high-tech business models trading NFTs, consider that BSV’s mining subsidy adds to about $28,350 daily [using current rates: $63 (current exchange rate to USD) x 144 (blocks per day) x 3.125 BSVs per block]. This is ten times less than an operation catering to selling food and drinks to music fans.

This festival provides a vivid illustration of the economic potential within just a tiny fraction of the global economy. With the global food industry anticipated to reach a staggering $7.2 trillion by 2026, even just a minuscule fraction of these transactions processed through BSV could multiply its current market cap of approximately $1.29 billion (it would take just a percent of a percent of a percent (0.0001) of food sales going through BSV doubles its market cap today).

While ambitious, the almost impossible quest for a revolutionary super app that will be as big as Google (NASDAQ: GOOGL) or Amazon (NASDAQ: AMZN) overshadows the more immediate and vital applications of BSV that could drive its adoption today. From the farmers of Africa to the food stalls of Asia, Europe, and the Americas, reducing transaction costs with BSV means preserving more profit for those who feed us, directly enhancing their lives and livelihoods.

This broader impact often goes unnoticed. Instead of leveraging BSV Blockchain’s capabilities to support fundamental economic activities like food commerce, there is a tendency to chase speculative and potentially unattainable technological innovations. But real value arises not from hype but from practical utility—from everyday relevance.

In response to these challenges, I created BSVSearch.com, a free platform that acts as a directory for farmers, vendors, and business owners who accept BSV. This initiative connects them with consumers worldwide, promoting a system where transaction costs are minimal and global exposure is maximized, emphasizing fair trade over excessive fees.

In summary, our focus should not dwell on the speculative future of a super app but on the tangible present—using BSV Blockchain’s strengths to meet the most basic human needs. The power of BSV lies not in its potential but in its current ability to enable transactions that are essential for survival, such as buying food affordably and efficiently.

Let us shift our perspective and fully appreciate what BSV offers now—the capacity to facilitate free and fair transactions in the global economy. This vision isn’t about speculative financial gains; it’s about fostering a sustainable, equitable world where everyone can afford to eat. BSV is not just digital cash but a vital tool for economic empowerment. Embrace this vision, where each transaction helps build a more accessible and prosperous world.

About the author:

With the generosity of other BSV supporters, Marquez Comelab offers to buy anyone around the world their favorite food if they can get the merchant to accept BSVs in exchange for their product. Winning participants will need to video Marquez transferring the BSV to merchants to pay for the food or meal and the merchant giving the food to the participant. Merchants and customers may apply to participate. Please contact him at https://bsvsearch.com/contact to participate. Applicable only until the end 2024 and as long as there are enough funds in the BSV wallets of his articles and videos.

Tipping BSV address for this article: 13Sssq9wVkJM6P9Pj1nvrKgNusqMsMToT8

Watch BSV Blockchain in Ras Al Khaimah: With blockchain tech, the possibilities are endless