Chris Naprawa, president of TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC: TAALF) was recently a guest on Seeking Alpha’s “The Cannabis investing podcast.” In the “Blockchain and Cannabis” episode, Naprawa and the podcast host Rena Sherbill explore a range of topics related to blockchain and the cannabis industry.
There are many similarities between the blockchain and cannabis space; both are emerging markets and as a result, companies in each industry often run into similar obstacles that any company in a nascent market is bound to face in its journey.
“TAAL has some similarities [to Khiron] in the way that it’s a brand new business. It needs to be properly capitalized. And there’s lots of work to do in the capital markets. And that’s where I have my level of expertise,” said Naprawa, who became the President at TAAL in early October.
Naprawa says that he has always gravitated toward emerging markets, and that the blockchain industry today feels like the internet era in the ’90s.
“Back in the 90s, we had all these different ways of going on the internet,” said Naprawa. “We had AOLs kind of Walled Garden, and I remember Simpatico here in Canada was another kind of Walled Garden situation and all of a sudden TCIP, that was it. Everyone HTTP IP boom, everyone’s standardized on it and on applications just started to fly after that. That’s exactly what’s happening with blockchain…we think that BSV (BSV-USD) is the protocol. Maybe not everybody in the world would agree with that. But I certainly think from a utility, from a cost and scale, there’s nothing else that competes with it. This is it.”
Bitcoin SV (BSV) is the only blockchain that does not have a block size limit and can process thousands of transactions per second at the low cost of $0.00089 per tx. Many blockchains are continually trying to upgrade their network so that they can perform on the level that BSV already performs at. However, BSV is years ahead of the other chains on a technical level, which is one of the reasons why it is likely to be the chain that becomes the standard for developers.
“Everything is going to end up on the blockchain,” said Naprawa. “And everything’s going to end up on the BSV blockchain… at some point in the future, every man, woman, and child on earth is going to generate about 25 blockchain transactions per day… Now all of those are going to have to get transacted and all of them are going to have to get written to the blockchain. And that’s why TAAL is an exciting opportunity because we’re not just setting up mining equipment and letting it run and searching for coins. We’re setting this up to be a transaction processing company and infrastructure company, as was envisioned in the original Bitcoin white paper back in 2008.”
Where to find the full episode
Afterward, Naprawa goes on to discuss what blockchain is perfect for, the opportunities that blockchain technology creates in the cannabis industry, the power of micropayments, why working on Bitcoin gives your business an advantage when it comes to compliance, and what TAAL has in store for next year.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.