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Siggi Oskarsson is the Teranode Director at the BSV Association. He joined CoinGeek Backstage’s Kurt Wuckert Jr. to talk about Teranode, scaling Bitcoin, and the world of possibilities it unlocks.
Sitting with the big players
Wuckert begins by noting that, at the London Blockchain Conference, Oskarsson shared the stage with some influential people from Aerospike, AWS, and others. He asks what it’s like talking to these people about the potential of blockchain.
Oskarsson says it’s great to talk to them, and he makes it clear that they’re not working against these companies but are developing technology that could enhance what they do.
What does blockchain becoming a serious infrastructure for global commerce and data processing mean for people running home nodes? Oskarsson chuckles, pointing out how ridiculous it is that the future of finance could run on a Raspberry Pi home node. Teranode with 20 or 30 miners is decentralized enough at that layer, and it’s the layer above with the users interacting that is truly peer-to-peer and decentralized.
Is Bitcoin a solution looking for a problem?
Wuckert notes that Bitcoin hasn’t disrupted anything of significance yet, and furthermore, it has been through several iterations. Is this just another stab at finding a problem to solve?
Oskarsson replies that it is solving a real problem. Generally, blockchain is a tool that makes processes more efficient and streamlined and has real business value. In essence, it’s a timestamp server, and scaling it will mean it can solve problems on a global level.
Now that Teranode is entering the MVP stage or thereabouts, are there any concerns about another team ripping it off on another blockchain? Oskarsson says there’s little you can do to protect code, but you can’t steal expertise and execute it the same way.
From cool tool to real-world infrastructure
How do we move from cool technology to real business use? Oskarsson admits this is difficult; many people are trying to build real businesses that use it, but it’s no easy task to build a successful business of any kind. AI could play a role, but ultimately, he sees BSV as the base-layer blockchain with overlay networks competing above it.
One possible inroad to becoming a tool real businesses use is just showing them what they’re doing. For example, the Teranode team asked AWS for some tech support, and this piqued their interest. Could they offer timestamping as a service? Time will tell.
Wrapping up, Wuckert asks what viewers need to know about Teranode and the general purpose of a scalable blockchain. Oskarsson paints a picture of his vision: we can exchange value globally without friction. However, for that to be possible, we have to scale. That dream was taken from us in 2017, but if his team has any say in the matter, it will be a reality soon.
Watch: Teranode & the Web3 world with edge-to-edge electronic value system
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.
