Global Blockchain Convention

Global Blockchain Convention Dubai 2022: Why integrating BSV and IPv6 will drive the digital economy

Why is IPv6 so relevant to the BSV blockchain and vice versa? There will soon be over 100 billion devices connected to the internet. Currently, there are 30 billion, and most of them aren’t connected properly. At the BSV Global Blockchain Convention (GBC) in Dubai in May 2022, several experts will describe how IPv6 standards can integrate BSV to build a new and better internet that serves both humans and “internet of things” (IoT) devices to create a true and secure digital economy.

IPv6 is the new world internet protocol standard and has been developing for decades. It will eventually replace the current IPv4, which has been the foundation of the internet since the early 1980s.

Why is IPv6 crucial to the digital economy?

IPv4 is famous for having an inadequate number of unique addresses to serve the billions of users and devices on the internet in the 21st century. This problem has resulted in multiple workarounds and address-sharing techniques, which need to be replaced. While that’s IPv4’s best-known shortcoming, there are also inadequacies in how it handles information, specifically in data packet headers. IPv6 proposals include headers that can handle key exchange and other information to efficiently route data across the network.

That’s where BSV comes in. Dr. Wright has spoken extensively about how useful it would be to integrate technology from the BSV protocol into IPv6 standards. He has presented at multiple IPv6 technical standards committee meetings, looking at how it could be done. BSV and IPv6 will make data traveling around the internet more private and secure, with greater user control over what happens to it. 

“IPv6 enables end-to-end connectivity, and that was part of the foundation of Bitcoin,” said Bitcoin creator Dr. Craig S. Wright at the University of Dubai earlier this year. This type of communication that does not rely on third-party intermediary platforms is central to the Bitcoin/BSV ethos. And for this to work, a blockchain must scale to meet the whole world’s needs. The internet wouldn’t work if there were multiple internets, and blockchain only works if there’s just one chain.

Why? The BSV blockchain is the world’s ledger. There can be only one ledger recording information, not multiple parties, each working on their own. And as the only blockchain capable of scaling to the size of the global economy, BSV should be the universal record of truth.

That universal ledger will replace our reliance on existing untrustworthy systems, which have consistently failed at protecting their users’ information from hackers and data miners.

“I want to see a model where everybody connects without going through big Silicon Valley companies,” Dr. Wright said. Using BSV as a base layer, IPv6 would see blockchain applications that run efficiently, with enhanced privacy and security controls. This needs to work on both the wired and wireless internet, exchanging information, whether it comes from a human user or the most rudimentary/disposable IoT device, anywhere in the world.

Come to GBC Dubai to find out more

There will be three presentations on the topic of IPv6 on Day 2 of the Global Blockchain Convention. They include a keynote on IPv6 and 5G/6G mobile networks and IoT, another keynote on how IPv6 and BSV can build a better internet, and a presentation with details on how the two standards will interoperate with each other. 

Dr. Wright is central to educating attendees on IPv6/BSV issues and will be presenting at the convention. The BSV Global Blockchain Convention takes place at the Grand Hyatt Dubai from May 24 – 26, 2022. 

If you don’t have one already, tickets are available here. If you can’t make it to the event in person, you can register for the virtual event and livestream as well.

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.

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