On this week’s episode of CoinGeek Conversations, Richard Baker tells Charles Miller that his priority in his new role as CEO of TAAL is commercializing the transaction processing business.
In the third of four CoinGeek Conversations special episodes, Natalie Mason picks out her favorite moments from previous interviews with technologists in the BSV blockchain ecosystem.
Even aside from speculation and the pandemic, the industry has continued innovating, developing and growing throughout the region.
Virtual reality, augmented reality and now experiential reality have been some of the most exciting and most heavily-funded emerging technologies in recent years.
What connects Steve’s research with GeoSpock’s current interest in data from sources such as roads, traffic signals and supply chains is, as Richard puts it, “how you deal with extreme datasets”.
The secret lies in creating a “parallel environment ...which is all about serial communication.” That allows the speeding up of access to data in large data stores, and to GeoSpock’s claim that whatever query is applied to the data they are working with, they will have an answer in less than a minute.
Richard points out that people are no longer the biggest producers of data: that honour (or shame) is now claimed by machines. As devices connected to the Internet of Things generate more and more data, that creates new problems for technology, and society: “the challenge there is, as this data is pervasive, how do you harness it and how do you translate it into meaningful insights and into decisions ultimately?”
GeoSpock’s software will allow the company to be working in an area that Richard believes can be described as “change for good”. The technology should work across a broad range of industries. Richard gives examples of the kinds of problems he’d hope to be solving: “how do we generate city environments that are good for citizens? How do you ensure that they are clean, that there's low CO2? How do you plan clean and efficient transport systems? How do those transport systems actually function?”
So how does Bitcoin come into GeoSpock’s plan? And why did nChain recently announce its connection with the company as the lead partner in a $5.4m Series A investment round? Richard explains that while today, the company uses Amazon Web Services, he could see a future where BSV could be a compelling alternative to traditional cloud services.
“Why isn't Bitcoin SV, both in terms of protocol, but also in terms of what organizations like TAAL are doing, the alternative store? We really see a situation where today we're dealing with event information coming from sensors, but actually the next step is really dealing with the commercial transactions.”
If the idea of an intimate connection between data and money seems unfamiliar, think again. Isn’t that what happens, in a very manual way, every time you fill up your car at a garage? Well, why not automate the process? “We should be able to plug in our car and our car settles for the amount of time that it's been on the charging station in a public space. That ultimately will become a machine to machine commercial transaction. And I think we see an opportunity here where Bitcoin SV becomes the digital ledger of choice for those types of transactions in the machine to machine economy.”
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CEO Richard Baker explained that his co-founder Steve Marsh was researching an area that appears to be very different from where GeoSpock is focussed today: “back in 2010, 2011, [Steve] was doing his PhD in computer engineering at Cambridge and he set about the challenge of building a supercomputer to emulate one second of human brain function.”
Jordan Atkins sits down with GeoSpock CEO Richard Baker to talk about GeoSpock, extreme data, future economies and where nChain fits into their vision for the future.
This CoinGeek conference in particular, CoinGeek Live, there were tons of announcements that indicate that there is a lot on the horizon. Here are three announcements from CG Live that caught my eye.
Bayesian Group Acquires Money Button: Nobody was expecting Money Button to be acquired—and not many people even knew that the Bitcoin payment system was for sale—so when it was announced that the Money Button got acquired by Bayesian Group the day before the three-day CoinGeek conference began, it came as a surprise to everyone.
However, this acquisition sets the stage for Money Button to be the MetaMask of Bitcoin. Bayesian Group is the parent company behind the tokenization platform fabriik, and now that they own Money Button, you can expect Money Button to be one of the first wallets that is compatible with the tokens that are set to arrive on the Bitcoin network in the near future.
Speaking of tokenization brings me to the second event that happened around CG Live that caught my eye; the Tokenized demo.
Tokenized Demo: On Day 2 of the conference (October 1st) James Belding, founder and CEO of Tokenized, gave the audience a first look at the Tokenized platform. Tokenized makes token creation and distribution easy while staying compliant with a country's legal framework throughout the process.
With Money Button’s infrastructure in place, Bayesian group’s token platform, and Tokenized gearing up to launch, I expect there to be a wave of tokenization arriving on the Bitcoin network very soon.
If you happened to have missed James Belding's presentation at CoinGeek Live, Belding will be doing a very thorough live demo of Tokenized on October 9, and you can register to attend the webinar here.
nChain leads GeoSpock investment round and acquires Equaleyes: The last two events—at least the last two events I will write about for now—that caught my eye at CoinGeek Live was nChain leading the investment round for the data firm Geospock on October 2 and its acquisition of the software development firm Equaleyes on October 1.
What’s interesting about the Geospock investment is that Global Brain and NTT Docomo also participated in the investment round; with nChain co-leading the investment round, you can expect other venture capitals at the table to look into Bitcoin.
Bitcoin is shaping up to have a strong Q4 and an even better 2021 with all of the developments taking place in the Bitcoin ecosystem as we speak. That being said, there is a lot to look forward to in regard to both enterprise and consumer-facing applications. So be on the lookout for updates across the Bitcoin ecosystem and check back on CoinGeek for the latest news taking place in and around Bitcoin as a blockchain and digital currency.
Patrick Thompson looks back on the three significant announcements that were made during the CoinGeek Live conference.
Much of CoinGeek Live was dedicated to the concept of scalability, a pre-requisite for the world to get behind one chain and reap the benefits.