Richard Baker, CEO of TAAL (CSE:TAAL | FWB:9SQ1 | OTC: TAALF) since January 2022, is an extremely busy man with an incredibly ambitious vision for his company.
During the BSV Global Blockchain Convention Dubai in May, the charismatic Baker presented and spoke on several panels, covering topics such as Bitcoin mining and enabling a Metaverse. In Dubai, Baker also carved out time to appear as a guest on Hashing it Out as TAAL has positioned itself as a service provider for the gaming industry.
What is TAAL?
Traditionally TAAL has been known as a Bitcoin mining company, but in reality, they do so much more. With Baker at the helm, TAAL has transitioned to a transaction processing company and service provider for industries that wish to take advantage of scalable blockchain tech.
“I think the role of the mining company is evolving rapidly because our responsibility really is to build that transaction processing layer to allow this digital cash system to work,” explained Baker.
“As this industry matures, I think the mining company becomes almost like a clearing house from the financial services industry,” he stated.
“So we need to build the cash register—meaning the UTXO services—we need to build the payment rails and we need to be ubiquitously available as a payments platform to support all the applications that are being built in the ecosystem,” Baker added.
How TAAL services gaming
So how can TAAL’s services help the gaming industry?
There are two examples of gaming companies—FYX Gaming (the parent company of CryptoFights) and Haste Arcade (via HandCash to enable micropayments)—that work with TAAL and are experiencing rapid growth at present.
FYX Gaming and HandCash use TAAL platform software tools to interface their software stack with the blockchain.
“We take a suite approach, meaning that there’s a number of capabilities that application partners like that require,” Baker elaborated.
“In simple terms, we always think about how you send to the blockchain and how you’re reading from the blockchain… we’ve got some great tools, but we will advance those tools to make sure customers like HandCash can really build out and concentrate on their service and we’ll be their utility service provider,” he said.
“Then I think on the gaming side, I love what FYX/CryptoFights have been doing. This is probably one of the biggest use cases I think we have in the ecosystem at the moment,” Baker confirmed.
“[CryptoFights is] a play-to-earn game, it’s a high volume user game, but what they’re actually engineering is something really quite special. And so to have a game like that, writing user events to the blockchain as they happen, is really unique and that’s not really happening on any other blockchain in the world,” he added.
Building a metaverse
The concept of a “Metaverse” has captured the attention of entrepreneurs and technology companies across many industries, including retail, real estate, and of course, gaming. When it comes to powering a metaverse world, Baker sees TAAL as playing a crucial role in the background with transaction processing.
He explained that when you look at the function of the CryptoFights game, what they’re building emulates where other industries will go with writing event data from an application to the blockchain and ultimately building out commercial value.
“Whether that’s loyalty systems or rewards, but of course in that build, I own my data, I own my private/public key in my wallet and so I can port out of that game with my identity built and my credentials established from the way I was playing and I can go to another application,” Baker explained.
“And this portability, it’s a metaverse story—this is what really the metaverse is going to be about,” he said.
Why BSV Blockchain
Everyone loves the idea of these exciting blockchain-powered concepts such as the metaverse and instant micropayments as HandCash enables, but not all blockchains have been built to scale. In fact, none of them have, except for one.
“I think the outside world really experiences Bitcoin through the lens of a single Bitcoin at a certain price,” Baker said.
“But the reality, of course, is what we’ve got here is a micropayments architecture. And so it’s those 1 million satoshis in every Bitcoin and how they’re going to be used as a fractionalized micropayments system. That’s the real power of the Bitcoin protocol,” he added.
“Think about the billions to trillions of transactions that will be happening in next generation commerce, then, of course, you need a network that can have large block sizes so you can pack in as much data and transaction volume as you can,” he noted.
“BSV is the only architecture that can do that. And so I think this journey over the next three, five, seven years is probably the most exciting technology journey I’ve experienced in 30 years,” Baker concluded.
Watch: The BSV Global Blockchain Convention presentation, Enabling the Real World Metaverse
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