To really get Bitcoin adopted at a worldwide level, the backing and support of major enterprises is a necessary part. UNISOT, the enterprise blockchain service provider, has a way to achieve just that, and as founder and CEO Stephan Nilsson explained at the CoinGeek Toronto 2019 scaling conference, they can only do it on the Bitcoin SV (BSV) blockchain.
UNISOT’S goal is to improve the supply chain services of large enterprises through faster, more efficient blockchain services. They’re developing several tools to do that, and as Nilsson told the crowd, they only had one choice of blockchain to meet all their goals:
“Since we are delivering enterprise solutions, we also need an enterprise blockchain with enterprise characteristics. So we need it to be scalable, it has to be proven and verified, it has to be immutable, there are some blockchains out there that many companies are using, but it’s not immutable. We need it to be stable and resilient. It has to be private and secure. It must have high availability, globally distributed, have low fees and predictable fees, and … we need to have legal tokens and legal smart contracts. They have to be legal if we’re going to use it in an enterprise environment. And last, but not least, it has to be an open, including and censor free community, or society. And what we found out, Bitcoin SV is the only blockchain having these characteristics.”(1:19)
UNISOT’s name is short for “The Universal Source Of Truth”, and that’s exactly what they are looking to provide for businesses. “One global database for all companies, and of course it’s powered by Bitcoin SV,” said Nilsson. (2:57)
What their technology will provide is an information downstream in the supply chain, letting everyone involved the manufacture, distribution and purchase of goods to know the whole history of the product in question. They will also have an upstream thread, to report back to everyone involved how the product performed each step of the way. They accomplish this by creating a digital twin of the product on the blockchain, with a product DNA of all of its characteristics.
This is a major improvement over existing Electronic Data Interchanges, which can be very expensive and inflexible. The Blockchain Data Interchange UNISOT is introducing on the BSV blockchain will be much cheaper, and allow for a high level of flexibility as a company adapts to the ever changing market.
While they are working on applications to help supply chain partners, they are also building towards a consumer application, allowing end users to see the entire history of a product and pay for it in one place. This opens up a world where consumers can walk into a store, know everything about the fish they are looking at, in Nilsson’s example, pay for it with the UNISOT app and walk out of the store, without interacting with as single employee.
That opens up a world of possibilities, and they’re only possible due to the massive blockchain scaling available to enterprises on the BSV blockchain.
To receive the latest CoinGeek.com news, special discounts on CoinGeek Conferences and other inside information direct to your inbox, please sign up for our mailing list.