As the blockchain industry continues to develop and become better understood, more and more entities are beginning to realize its true benefits. This is leading to the creation of new solutions for businesses and consumers that are challenging the status quo and helping the industry evolve even quicker. Nowhere is this more obvious than with Bitcoin SV (BSV), which is developing solutions at a faster pace than any other blockchain project. During the recent CoinGeek Seoul conference, Bitcoin Association Founding President Jimmy Nguyen sat down with some investors to discuss what they’re providing funding for and what they see coming down the pipe as the technology is embraced more on a global level.
The panel included well-known names in the investment and BSV sectors, including Sam Chi of Landmark Asia Holdings, 2 Hop Ventures General Partner Jan Smit, Ausvic Capital founding partner Ping Chen, angel investor and co-chairman of the Hong Kong Blockchain Association Tony Tong, and Block Crafters partner Joony Koo. The sentiment shared by all is that the BSV community is deserving of more attention because of the amount of resource development currently seen. They all point to the scalability and versatility of the BSV blockchain as driving forces behind the growth and are happy to help support it with their investment capabilities.
Smit helped launch 2 Hop in September, and specifically invests in BSV projects because of the blockchain’s strengths. The company accepts fiat investments into its fund that are then used to support key projects and the endeavor has already started to produce solid results. All other panelists that participated in the discussion shared their stories, as well, indicating that there is a lot of opportunity for investment as blockchain technology continues to become more widely accepted.
What has helped set BSV apart, according to the discussion, is its ability to scale. This not only allows for more financial transactions, but it also allows for more application development. In ways never before possible, the blockchain is ushering in an entirely new way to think about business and BSV is one of the main catalysts. For example, Koo points to BSV’s low transaction costs that are helping to pave the way for non-fungible tokens in video games, which are giving gamers the ability to monetize their own game assets in order to earn revenue. Additionally, new tools and even new hardware are coming that are making BSV development even easier, which is going to lead to substantially higher adoption.
For companies or individuals who want to seek funding for their BSV solutions, all of the panelists concurred on the best way to go about soliciting the investments. The pitch has to be confident and the developers sure of their solution, finding a niche that will fill a void and not be something that tries to take on an entrenched solution, such as an alternative to Google’s search engine, and which can benefit by being offered on a blockchain as opposed to conventional channels. The developers have to be able to show why their product is better and who they will cater to, as well as have a firm grasp on the “product-market combination,” as Smit explained.
There are a lot of interesting developments coming down the pipe and everyone who participated in the panel discussion showed their enthusiasm for being involved as some of the earliest investors in a real blockchain solution. Four or five years from now, when they look back to see everything that has been built, they will be able to firmly state that they helped make it happen.
The Genesis protocol upgrade on February 4, 2020 is a monumental step in the history of Bitcoin, and will see BSV returned as close as possible to the original protocol as envisioned by Satoshi Nakamoto. Visit the Genesis Hard Fork page to learn more.
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