Patrick Prinz on Bitcoin terminologies

Patrick Prinz on CoinGeek Backstage: Don’t get too caught up on Bitcoin terminologies

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CoinGeek’s Patrick Thompson caught up with Patrick Prinz behind the scenes of CoinGeek Zurich for this episode of CoinGeek Backstage. Prinz, the Europe and Operations Manager at Bitcoin Association, spoke about the different terminology around Bitcoin SV, BSV blockchain and Bitcoin.

Prinz said it was important not to get too caught up on the terminology, because, ultimately, it’s all the same thing eventually. Discussions around terminology would, he said, ultimately become irrelevant. It is plumbing, it’s infrastructure—Bitcoin is there for everyone.

Bitcoin SV is there for the enthusiasts, those who were early into the game, and there is an appreciation that the history and legacy is important. But Prinz said there was a need for awareness in wanting to open BSV to the whole world that many outsiders to the digital currency and Bitcoin worlds draw negative inferences from its connection to ‘Bitcoin’ as they understand it.

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Prinz said that if the name ‘Bitcoin’ has a lot of negative connotations with regulatory authorities, banks and governments, which seems to be the case, there are no good reasons to put these obstacles in front of its journey to mass adoption. When referring to it as BSV or BSV blockchain it becomes possible to discuss BSV as a data processing infrastructure, a tool to do all kinds of things, and not simply an offshoot of ‘Bitcoin’, a dubious cryptocurrency. It is this, Prinz argued, that will help sell the message that BSV provides data solutions in supply chain, gaming, banking and a whole host of other sectors.

He said that anyone who has been to the CoinGeek Conference will appreciate the professionalism of the event. But there has also been a marked change in audience in recent years, with Zurich packing in consultants, bankers, investors, and many others from the world of business and commerce many of whom have never looked at blockchain or Bitcoin before. For Prinz, it is these people that need to be convinced of the merits of BSV as a blockchain and a data solution, and that the shift in emphasis away from the ‘Bitcoin’ name helps cement that all-important credibility.

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