“I think blockchain technology has a humongous role here and in the future. There’s some significant impact that blockchain technology can have on efficiency, on cost, on capabilities. And that’s across all verticals and industries,” Bryan Daugherty stated in a recent interview.
In his interview with Coin News Extra, the technical outreach specialist for Bitcoin Association spoke about why only Bitcoin SV can support enterprise blockchain applications, the role of blockchain in business growth and transformation and what the future holds.
— Jimmy Nguyen (@JimmyWinSV) February 25, 2021
“Blockchain use goes across everything from transparency, fraud prevention, accountability, increasing the trust, data ownership and integrity. One other thing that many overlook is the privacy and security aspect,” he stated.
Daugherty has been involved in the enterprise hardware and software industry for over two decades. He has always had a focus on emerging technologies, which is what led him to blockchain technology five years ago. An supporter of unbounded scaling, he has been a Bitcoin SV advocate for the past two years.
He noted that Bitcoin SV’s very low fees, which stand at 1/100th of a penny, set it apart from all the other blockchain networks. Ethereum fees spiked to $38 a week ago and are currently at $11.25. BTC’s fees are just as high. This hinders enterprises from integrating these blockchains.
“If the costs are much more than the legacy technology that they are using today, then it isn’t an innovative solution for an enterprise right now,” he stated.
Daugherty also pointed out that Bitcoin SV has focused on scaling, “because that’s the key to unlocking the utility for blockchain enterprises.”
“With Bitcoin SV, we’ve been able to scale unbounded. We’re just coming up on the one-year anniversary of the Genesis upgrade which allowed us to remove these limits to allow transaction processors to mine larger blocks.”
The Bitcoin SV ecosystem takes great pride in its microtransactions capability, he added. Currently, there are thousands of legacy systems that will allow users to send a million dollars across the globe. However, being able to send a penny in real time is the challenge that only Bitcoin SV has been able to solve. For users in developing nations, this is transformative as they rely on small payments to drive business growth, he pointed out.
Daugherty remarked, “The limitation is just the imagination. Since we have a sound stable platform that you can build upon and have these low fees and unbounded scaling, you’re really just limited by your imagination.”
Watch Bryan Daugherty’s interview with Coin News Extra:
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