Business

Rebecca Asseh

Is Bitcoin Cash the next global electronic plumbing system? Dr. Craig Wright says yes

Bitcoin Cash (BCH) has been expanding its acceptance in the mainstream markets, integrating with payment processing services like BitPay and now, it is a payment option on Dish Network. As its use case expands, so does its adoption. But what is really in store for Bitcoin BCH, the only true Bitcoin and world’s functional cryptocurrency?

For nChain Chief Scientist Dr. Craig Wright, Bitcoin Cash is “the next global electronic plumbing system.”

Wright took to Twitter this week to explain his point that Bitcoin BCH will take over the world’s economy. His tweet reads, “Sorry. You missed the chance to stop us. #BitcoinCash is the next global Electronic plumbing system. We have all that is needed now to revolutionize a $1.5 Trillion USD annual market nobody considered, In 3 years, you will understand. It is already in place.”

Although Bitcoin Cash has experienced relative adoption, integration and partnership these past few weeks, adoption has been slow. According to Wright, there are two reasons slowing down the adoption of Bitcoin BCH: scaling limits to be removed, and locking the protocol.

Fortunately, the Bitcoin BCH community is already hard at work to remove the said obstacles. The last May network upgrade saw the Bitcoin BCH’s block size limit increase to a maximum of 32MB, as well as the re-enabling of some OP_Codes. Now, Wright is suggesting that there is a possibility for the blocksize limit of Bitcoin Cash rising to as high as 36GB blocks in the near future.

Recently, Bitcoin Cash also found its way to the United States Congress. Bob Goodlatte, the chair of the House Judiciary Committee, revealed in his assets declaration that he owned about $17,000 to $80,000, worth of cryptocurrency with a certain portion containing Bitcoin BCH.

If you’re interested in helping the growth of merchant adoption of Bitcoin BCH, join the bComm Association, an industry group that intends to be the focal point for miners, merchants, exchanges, developers and members of the BCH community. Members of bComm Association can avail tickets at discounted prices to CoinGeek Week on November 28-30 in London, an event that is shaping up to be the must-attend event of 2018’s crypto calendar. To purchase tickets or learn more about CoinGeek Week Conference, visit the official website here.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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