The AI & Blockchain Summit held recently in Malta was a massive success for the entire blockchain ecosystem. It provided a wealth of knowledge on what is developing and what innovations are coming, and the founding president of the Bitcoin Association, Jimmy Nguyen, took some time out for a one-on-one chat with CoinGeek’s Stephanie Tower about how Bitcoin SV (BSV) is revolutionizing the entire industry.
Out of all of the blockchains that have been developed, only BSV is capable of processing large amounts of data. This is because, just as the original Bitcoin whitepaper stated is possible, BSV has enabled large block sizes and is capable of scaling to levels no other blockchain can achieve. Nguyen points out that, at its core, Bitcoin was designed as a blockchain commodity data ledger, allowing for large amounts of data to be stored in a distributed manner. BTC and BCH didn’t follow this design, which is why both of the blockchains are limited in what they’re able to provide.
Because BSV has such large capabilities, it can conduct transactions for “less than a tenth of one U.S. cent,” an amount that is substantially cheaper than any other blockchain. This makes it feasible for anyone to use, and makes it accessible to developers, scientists, businesses and everyone who needs a universal source of big data.
It’s also because of the low fees and the superior scaling that BSV has seen more real-world solutions created on the blockchain than have been associated with alternatives. WeatherSV, RateSV and others are providing permanent solutions on a blockchain that are making it possible to monetize data in ways never before possible.
What makes BSV stand out even more is the fact that it has been able to accomplish everything in just a year. November 15 is BSV’s Independence Day, and the first celebration is coming in just a couple of days. No other blockchain, despite having years to evolve, has been able to develop the quantity, or quality, of solutions seen with BSV over the past year, and this is just the beginning. More development is coming, and large enterprises are starting to take notice.
November 15 is going to be an opportunity to show the accomplishments of Bitcoin’s capabilities and, as Nguyen puts it, “It’s exciting… [We’re] getting to see how Bitcoin always could have worked all of these years.”
Watch Jimmy Nguyen’s presentation at The AI & Blockchain Summit 2019 Winter Edition:
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