It took Satoshi Nakamoto to invent Bitcoin in the first place, and now it also takes Satoshi Nakamoto to explain to the world why data needs to be valued. However, Bitcoin was created precisely for that: to value data and be the foundation of a true information economy.
Luckily, Satoshi is still with us and is better known as Dr. Craig Wright nowadays. For anyone unfamiliar with the history of Bitcoin and the person behind the famous pseudonym, check these articles out:
- How Bitcoin was saved
- The outcome of the Kleiman v Wright court case
- Craig Wright: Bitcoin is an informational commodity
We are living in an inefficient data chaos economy
Why is it that whenever we enter the internet, we are getting bombarded with advertisements? As of now, there is no efficient mechanism implemented to value information. That is why we live in a data world where everything must be indirectly monetarized by ads.
This is not about convenience. We are facing a severe problem here, as inefficient monetarization means less economic growth for everyone. In other words: if we had a straight way to value information, all of us would be richer.
With Bitcoin SV, as in the BSV blockchain, we can use low-cost and low-value transactions to monetize literally everything data-driven. For example, instead of using a search engine allegedly “for free” but having to scroll through a ton of ads, we could use Bitcoin to simply pay a fraction of a cent for a single search.
And with “fraction of a cent,” we really mean it: literally a thousandth of a U.S. dollar cent or even less. In numbers: 0.0001 U.S. dollar for the use of a search engine. This micro-money would go directly to the search engine, and gone are the ugly advertisements.
We can do that with the BSV blockchain. In this example, the whole business model of the search engine changes. Appealing to advertisers is no longer necessary; we will only focus on presenting the best search results for the users—the users who actually pay and not “pay” indirectly with their time and attention viewing the ads.
You cannot unlearning the BSV blockchain
Once people understand the original Bitcoin, there is no way back. The capability to value data is a positive disruption. In his quest to conquer the information economy and make it free from inefficiencies, Dr. Wright is supported by entrepreneur Calvin Ayre.
It was Ayre that said: BSV is a one-way street. As soon as people realize what can be done using the BSV Blockchain, all boundaries in the data chaos economy of today are eliminated, and there will be no reason to ever switch back to legacy data systems.
“The number of people who get what this platform can do is growing and growing and growing (…). No platform competes with BSV in reality. The technical superiority and what it can do, and what people inside the development community are focused on is unique to BSV,” Ayre said.
Recently, IBM Consulting became aware of the BSV Blockchain:
It is safe to assume that IBM will keep more than an eye on what BSV is up to. Furthermore, famous economist George Gilder described Bitcoin SV as the epitome of the information economy and has been an avid supporter of Dr. Craig Wright. According to Gilder, BSV is the kind of digital money that the world needs to enter the promised informational age.
“Satoshi’s vision is now manifest in a level of transactions that dwarves the level of transactions of BTC. Everybody is focused on market cap of Bitcoin (…), but you get ahead by inventing new things, using money as a measuring stick for your own achievements. And Bitcoin SV is now taking off in the transactional field,” Gilder said.
That is what Dr. Craig Wright meant by valuing data: an electronic measuring stick and such is the nature of Bitcoin. With Bitcoin, we have the data and the money in one system. The original Bitcoin in the BSV blockchain is the reason why Gilder is so passionate about it:
BSV blockchain with unstoppable momentum
It is easy to agree with Calvin Ayre that there is no unlearning of Bitcoin SV. If one tips a toe into the BSV blockchain water, the next step is a full dive into it. As no other blockchain project offers the same scalability, low-cost transactions, and micropayment capability as BSV, it is no wonder that the development of BSV is accelerating:
In comparison, other blockchains such as Ethereum or BTC are struggling with scalability and make micropayments impossible. This may sound ridiculous, given that these blockchains have been around for years already, but it is serious. These projects actively stifle innovation. They are hindering us from getting into an efficient information economy, an economy where we start to value things again and therefore bring order into chaos.
Recently, Dr. Craig Wright was introduced to the IPv6 Forum by Latif Ladid and will be presenting at the IEEE soon. Satoshi Nakamoto is busy educating the world, and the beauty of education is that usually, you do not unlearn things. Once true information is out, it is out there forever.
Watch: The BSV Global Blockchain Convention presentation, BSV Blockchain: A World of Good
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.