Bitcoin Association celebrates tremendous growth in first annual report

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The past year has been huge for Bitcoin SV (BSV).

Over the past 12 months, we’ve seen the Bitcoin protocol restored to its original design, allowing it to scale massively and provide genuine utility outside of being just a digital currency. Through the work of the Bitcoin Association, the potential evident in BSV gets closer to realization every day, with their first annual report revealing sizeable growth in business interests across the board.

“Looking back, 2019 really was a remarkable year for Bitcoin SV and for Bitcoin Association,” Founding President Jimmy Nguyen told CoinGeek.

In just 12 months we’ve seen Bitcoin SV develop into what we always knew Bitcoin could be, with the transaction volume to match too! As the report shows, the BSV ecosystem is developing quickly to make the most of the restored capabilities of the network. But while 2019 was big, we want 2020 to be even bigger, as we work to advance business with Bitcoin SV.

Looking back at their first year, the Bitcoin Association Annual Report, covering February 2019 to February 2020, shows how big the organization has grown to in just 12 months’ time. The report shows that the Bitcoin Association now counts nearly 1,200 full members (which Mr. Nguyen advised had surpassed 1,500 at press time) – impressive, considering that membership is intended for professional use by companies as opposed to promoting individual access. To date, membership of the Bitcoin Association has been most popular in China, the U.S., the U.K., Canada and Australia.

The update celebrates many of the achievements in the BSV world in the past year, with the Genesis hard fork marking a years’ worth of hard work on the protocol. With BSV now seeing an average of 4,127 transactions per block with average size of 2MB, BSV is now comfortably surpassing both BTC and BCH, with the potential for this gap to widen with BSV’s unbounded scaling potential. Indeed the Bitcoin Association notes that on the Bitcoin SV Scaling Test Network (STN), BSV has already proven it can handle blocks as large as 1.92GB and average as many as 6,400 transactions per second.

Along with many important events that happened throughout the year, the annual report notes many of the important Bitcoin Association ambassadors who have joined in the past year.

There’s Sami Chi for the important APAC region, Centbee co-founder Lorien Gamaroff for South Africa, and Money Button founder and CEO Ryan X. Charles for the U.S., amongst over a dozen other influential members of the business and Bitcoin world.

With over 400 known ventures already being built on BSV, the Bitcoin Association is increasingly turning its focus towards fostering new talent from outside the sector and upskilling those already working in it. In their goals for 2020, they note they intend to “increase the expanse of our outreach programmes to businesses and developers outside of the Bitcoin SV ecosystem, by increasing our educational and onboarding resources, as well as demonstrating the tangible benefits of building on the BSV blockchain.” They will do that by providing more educational resources for developers, and by completing a certification program that enterprises can count on.

The Bitcoin Association will also continue to increase their outreach to businesses and support the startup community to help realize innovative new applications of the BSV blockchain. Assuming COVID-19 is brought to heel, it hopes to continue that effort, as well as a host of other educational initiatives, including some already in place with Cambridge University.

Finally, the Bitcoin Association expects it will continue to expand, growing its team and its membership. With over 1,500 members in just its first year and achieving on nearly every goal set, their track record of results looks promising for the upcoming year.

“We have been so happy to see the growth in the Bitcoin SV community, who have expanded alongside our own growing team here at the Association,” said Nguyen.

“But, this is just the beginning. We have an even bigger 2020 planned as we here at Bitcoin Association work to advance business with Bitcoin SV and bring Satoshi Vision to the world.”