Mike Rae on CoinGeek Backstage

The more I learn about Bitcoin, the more I appreciate its capabilities, nChain’s Mike Rae tells CoinGeek Backstage

After two years as a developer, Mike Rae was hungry for a new challenge. He took to blockchain technology, and as he tells CoinGeek Backstage, the more he learns about it, the more he appreciates what it can do.

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Prior to joining nChain as a delivery manager, Rae worked with global behemoths, including IBM (NASDAQ: IBM), Credit Suisse (NASDAQ: CSGKF), Fujitsu (NASDAQ: FJTSF), and Serco (NASDAQ: SECCF) as a senior Java developer. He has been on a steep learning curve over the past four years at the London-based enterprise blockchain developer, he said.

“I was interested in Bitcoin and thought I understood it. Then I joined nChain, and during the interview, I was educated on what Bitcoin really is…the more I learned about it, the more I loved what it can do,” he revealed.

Rae was at The Bitcoin Masterclasses in London, and as he told CoinGeek Backstage reporter Becky Liggero, the sessions were invaluable.

“…often when he [Dr. Wright] says something, it takes a day or two before you realize fully what he means.”

One of his biggest takeaways was that Bitcoin developers need to integrate the technology into existing platforms, standards, and systems. Enterprises are unlikely to overhaul systems they’ve used and invested in for decades just to test Bitcoin.

“We need to fit in and plug into what they currently use.”

With this approach, enterprises will only need a minor tweak in the backend of their systems to get all the benefits of Bitcoin.

Blockchain’s benefits aren’t limited to large enterprises, he added. Small and medium enterprises can also leverage the technology, starting with basic functions such as notarizing files digitally. Such functions will be free in the future, with the BSV Blockchain Association working on making some transactions on the Bitcoin SV blockchain free.

“You just take a hash of the document and upload it on the ledger. You don’t need to upload large data files, just the hashes.”

Watch: On the very start of Bitcoin

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New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.