ZUG, SWITZERLAND 05 October 2022: The Bitcoin Association for BSV has launched a software tool allowing miners to freeze digital assets on the BSV blockchain once a court order or equivalent documentation is secured. This tool makes it possible to freeze digital assets directly – rather than just at a wallet level.
The Bitcoin Association for BSV’s Blacklist Manager is a listening tool run by miners, enabling nodes to add digital assets identified in a court order to a freeze list. It is being released under an MIT license through the Bitcoin Association.
The ability to freeze digital assets is the first step in a process that will allow owners to enforce their property rights in the event of theft or loss of keys.
The Blacklist Manager, digital asset recovery technology is something that the industry needs and should have. For blockchain technology to be adopted globally, it needs digital assets to be treated legally similarly to stocks, bonds and any other property.
Marcin Zarakowski, General Counsel and Chief of Staff of the Bitcoin Association for BSV said: Bitcoin SV is the first blockchain to take a step towards a digital asset recovery process with the launch of the Blacklist Manager tool – creating the world’s first regulatory-friendly blockchain.’
‘In the past two years, we have seen $3 billion-plus in digital assets stolen; this is unacceptable. With this new tool, we look to set ourselves on the right track for solving this issue.’
‘Freezing and recovering at the coin level is essential to the future adoption of blockchain technology. BSV was designed from scratch to be the valuation layer for the internet and therefore it seamlessly integrates into IPv6. For BSV to become a global standard it must first successfully conform with all existing laws, including property law.’
About the Bitcoin Association for BSV
Bitcoin Association is a non-profit association (Verein) in Switzerland and the global industry organization which advances Bitcoin SV (BSV). It brings together enterprises, start-up ventures, developers, merchants, exchanges, service providers, blockchain transaction processors (miners), and others in the Bitcoin SV ecosystem. The Association supports Bitcoin SV as the original Bitcoin, with a stable protocol and massive scaling roadmap to becoming the world’s new money and global blockchain for enterprise. The organization seeks to build a regulation-friendly ecosystem that fosters lawful conduct while encouraging digital currency and blockchain innovation.
Lightning Sharks, on behalf of the Bitcoin Association for BSV
Key contact: Haris Khan, PR and Media Manager
Email: [email protected]
Mobile: +44 (0) 7503 581 563
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