Jimmy Nguyen at Baikal Summit 2020: Bitcoin SV is world ledger for data and money

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Bitcoin SV is the world ledger for data and money, according to Founding President of Bitcoin Association Jimmy Nguyen.

Addressing the Baikal Summit 2020 event via a video presentation, Nguyen told delegates that Bitcoin SV was already scaling massively, to connect data and money into one single form.

In his presentation, titled “Bitcoin SV: The World Ledger for Data + Money,” Nguyen said the power of Bitcoin SV comes from the fusion of data and money into a single form, and the ability to connect the world in one blockchain.

“[Bitcoin SV] is the fusion of data and money. It’s right there in the word—bit, data, plus coin, money. It is more than just a digital currency and a blockchain. It is also a network protocol, just like the internet protocol. It is the foundational ruleset for an entire data network.”

“It also provides a basis to allow further systems to work within or upon its ruleset, such as HTTP is a further protocol built upon TCP/IP and is used to transmit HTML code on the world wide web.”

Nguyen goes on to explain that Bitcoin SV is a stable protocol based on the original whitepaper vision for Bitcoin. As a result, it offers complete certainty for all businesses, app developers and transaction processes, so companies can focus on building applications.

Today, BSV offers a transaction throughput maximum of 2,847 transactions per second. This compares to 24,000 transactions per second on the Visa network. However, with unlimited block sizes and a rapid eye for scaling, Nguyen said BSV would hit 50,000 transactions per second in 2021.

Looking at real world case studies of BSV as it is currently being applied, Nguyen urged delegates to attend the CoinGeek Live Conference on September 30 – October 2. The virtual event is broadcasting live from New York’s Manhattan Center and from Kennington Studio in London, featuring keynote presentations from the brightest minds in the Bitcoin ecosystem and beyond.

New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.