A few weeks back, CoinGeek reported that Huobi Japan had announced it would list BSV, making the digital currency available to one of the biggest markets in the world. Marcin Zarakowski is among the people working behind the scenes to make this happen, and as he told CoinGeek Backstage, this was just the beginning. More exchanges are lined up to make BSV easily accessible globally.
CoinGeek Backstage host Jon Southurst caught up with Zarakowski on the sidelines of the BSV Global Blockchain Convention in Dubai. Zarakowski, the general counsel and chief of staff for the BSV Blockchain Association, talked about why the listing was monumental and why the future is looking bright for BSV.
The entire Bitcoin community celebrated the listing by Huobi Japan, but few were aware of how much work had gone into it. As Zarakowski shared, listing in Japan is a tedious process that only a few select digital currencies ever achieve.
It starts with being whitelisted by the regulators. For this, a project has to apply and then break down how the technology works, the consensus mechanism, the risks that it comes with and even submit its white paper for review, which for BSV “was quite easy as we provided the Satoshi Nakamoto white paper,” Zarakowski told CoinGeek Backstage.
“The whole process was quite lengthy. We started more than a year ago,” he revealed.
In addition to the application, a project must have a local sponsor in the form of a licensed local exchange. For BSV, it was Huobi Japan.
The listing is massive for the entire Bitcoin ecosystem, but it’s perhaps even more fulfilling for Zarakowski. The attorney joined the non-profit association in April 2021, and he said getting BSV on Huobi Japan was one of the speedy tasks he was assigned with.
Zarakowski has taken on the responsibility of exchange outreach in his time at the BSV Blockchain Association. And while he gets the plaudits for new listings, he also faces the heat for delistings. But as he told CoinGeek Backstage, not all delistings are political. Sometimes, BSV’s unbounded scaling has been a headwind. Since exchanges have been required to run a full node, it can get quite costly since BSV processes millions of transactions daily.
This challenge has been solved by the launch of the LiteClient, which allows true peer-to-peer connectivity and enables exchanges and wallet providers “to only store block headers and Merkle roots.”
Zarakowski believes that the launch of the LiteClient will solve the issue that several exchanges which delisted BSV faced and allow them to relist the digital currency.
At the BSV Global Blockchain Convention, Zarakowski moderated a panel that delved into the future of digital asset exchanges and investments. On the panel were executives from some of the most prominent digital asset exchanges globally. One of these panelists was Valentin Preobrazhenskiy, the CEO of LATOKEN exchange, and he had a big announcement for the audience—his exchange was listing BSV.
As Zarakowski shared, the listing is almost complete, and the two teams—the Association and LATOKEN—are just finishing up on the minor technical details.
“That’s not all. There will be other announcements concerning the listings of BSV on other digital asset exchanges…stay tuned,” he concluded.
Watch: BSV Global Blockchain Convention panel, Law & Order: Regulatory Compliance for Blockchain
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.