TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC: TAALF) has been a friendly face at CoinGeek Conferences. And at the last CoinGeek New York, Chief of Commercial Officer Kal Suurkask gave a presentation explaining how the company approaches the future of blockchain transaction processing.
Suurkask caught up with CoinGeek Backstage reporter Nidhi Arora on the sideline of the event to discuss more about the company’s STAS token protocol, how it utilizes the BSV blockchain, and the challenges they encounter along the way as they process millions of transactions.
“TAAL is a blockchain mining and infrastructure company that works with all types of applications and businesses to help them integrate to the blockchain in a very cost-effective way,” Suurkask said.
“We as a company work with a lot of applications and enterprises that want to come and build their business on BSV. We have the infrastructure in place. We have the processing platform where they can hook up to this infrastructure, and they just plug and play and start building their businesses. So that’s how our connection is with the BSV blockchain,” he added.
Apart from that, TAAL also contributes a large amount of processing power to the Bitcoin SV network. As Suurkask pointed in his presentation, their business model is only possible on the BSV blockchain.
Arora further asks Suurkask to explain what TAAL is doing with STAS token. “STAS tokens is our token protocol that we’ve worked with a developer, a very smart Bitcoin Script Developer named Stas Trock, as well as our strategic partners WhatsonChain to come up with. It’s a base layer token protocol that allows you to pretty much create a token, issue a token, any type of token on BSV. So it opens up a world of different use cases,” he answered.
STAS tokens stands for “Substantiated Tokens from Actualized Satoshis.” It is the method by which a user can transparently and openly convert generic unsubstantiated Bitcoin and turn them into a ‘minted’ token with a legal issuance contract.
In his presentation, Suurkask showed that from June to August 2021, TAAL processed 52 million transactions, and it will continue to grow over time. When asked if the company faces any challenges related to this massive scale of transactions. Suurkask said TAAL is focused on developing and building its infrastructure right from the start and as one of the biggest infrastructure and mining companies, they were able to take many businesses and help them process their transactions on the blockchain, which set the company in an advantageous position.
“[We] just have to bring in all these applications and say, ‘Here it’s a great technology, great platform easy to connect to and build.’ And that’s why you’re seeing these really interesting games like CryptoFights and other applications build on it, and these guys are the ones producing these massive amounts of transactions. We just kind of step back and let them do their job,” Suurkask explained.
As for his general takeaway, Suurkask noted how great it is to experience the conference firsthand. “We hear about these applications, we hear about this growth, but when you come here, you’re like, ‘Wow! These are real people that are building on this great technology.’ I think the takeaway is [to] try to come to these conferences and meet as many people as possible. That’s going to be a great thing for your business because it will help you be a little more creative and innovative and open up a world of ideas,” he said.
Watch: CoinGeek New York presentation, TAAL: Leading the Future of Blockchain Transaction Processing
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