Why BSV: TAAL team discusses emerging transactional economy in fireside chat

TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC: TAALF) recently held a fireside chat in which TAAL President Chris Naprawa, CCO Kal Suurkask, and CPO Jerry Chan sat on a virtual panel moderated by CMO Angela Holowaychuk.

The panel took a dive into TAAL’s business model, the primary ways that TAAL generates revenue, what the panelists believe Bitcoin will be used for in the future, which verticals we will see Bitcoin implemented in, the biggest challenges that TAAL and individuals looking to learn more about BSV are facing at the moment, and much more.

Here are a few highlights from the fireside chat that will give you a little more insight into TAAL’s operations and the Bitcoin SV (BSV) blockchain.

What does TAAL do?

The fireside chat began with Chris Naprawa giving a brief overview of the company. TAAL is a blockchain infrastructure company that supports enterprises; from processing transactions to directing the massive amount of computing power that TAAL controls, TAAL can help enterprises in a variety of ways. That being said, TAAL has three primary revenue streams:

  1. TAAL charges its enterprise clients a monthly fee for the services that they provide them with (transaction processing, hosting, etc.)
  2. TAAL is a Bitcoin (BSV) transaction processor, which means that TAAL mines blocks on the Bitcoin network, wins the block reward attached to those blocks, and also receives the transaction fee revenue attached to each block.
  3. TAAL has a BSV treasury, which means that when BSV increases in price, the BSV that TAAL has mined becomes more valuable.

Biggest challenges 

Both Kal Suurkask and Jerry Chan talked a little bit about some of the challenges they have run into while building out TAAL. Suurkask said one of the biggest challenges is that there is currently a lack of information out in the world about BSV; and Chan talked about the current lack of tools and resources on the Bitcoin (BSV) network. However, instead of seeing these challenges as obstacles that slowed business down, TAAL saw advantages in each of these areas and turned the challenges into opportunities for the company.

Chan even alluded to upcoming tools and resources that TAAL will be launching that allow anyone to build on Bitcoin—not just software engineers. 

Why BSV?

The group discussed why TAAL supports BSV opposed to another blockchain network. A key factor in supporting BSV is that it scales, beyond scaling in a technical sense, BSV allows your business to scale too. Many blockchain networks continually run into scalability issues that limit the amount of data, transactions per second, and therefore, users a business can have. However, BSV works at scale and does so while having transaction fees that are only a fraction of a penny. These are just a few of the features of BSV that made it stand out to the TAAL team.

What else?

The group goes on to talk about the bigger blocks that we have seen on-chain recently, how Bitcoin (BSV) is breaking down the silos that exist in businesses, as well as what TAAL will look like in 4-5 years.

See also: Equity analyst John Pitts and fintech expert Len Mazur discuss TAAL, Bitcoin and the transaction processing industry

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.