It is a little over a month until SiGMA 2019 event kicks off in Malta, but the event already promises to be one that should provide an impressive assortment of speakers and presenters on the latest innovations. This is especially true in artificial intelligence (AI) and blockchain technology, where eight different presentations are scheduled during the three-day event.
SiGMA 2019 kicks off on November 27, and AI and Blockchain will highlight the first day. Jimmy Nguyen will get things started by providing his insights on how Bitcoin SV (BSV) has made the iGaming sector a focus for the upcoming year. Nguyen is the Founding President of the Bitcoin Association, and will address how BSV could very well become the leading digital currency for iGaming.
The first three presentations will all be based around BSV, which will include a 25-minute discussion on how it could very well replace such digital wallets as PayPal.
Discussions of blockchain technology will be showcased during this event. That starts at 14:55, with a discussion on how this technology is growing within the industry, and what that will exactly mean for iGaming. Also part of the discussion will be how tokenized assets will be implemented by operators to reduce costs and streamline gaming.
The final three presentations should be fascinating. The first will look at how blockchain applications are already being heavily used within iGaming and how there is a need to use this technology to a higher degree.
That will be followed by a discussion on the advancements in this technology in relation to esports. With esports growing in popularity across the globe, the need for improved technology to handle the large number of players, tournaments, and other competitions is creating a need for a more efficient and secure system. This will be addressed during this presentation.
As blockchain continues to become a technology that is dominating the Internet, this presentation should be one that few other sectors can match in terms of importance. Register for the event now and make sure you don’t miss out.
The CC Forum on blockchain, AI and digital innovations, with its many panels and duels of differently opinionated experts, was bound to have some fireworks. The duel between Dr. Craig Wright, inventor of Bitcoin, and Mike Beaver, macro economist and global growth investor, paid off with many explosive moments and testy exchanges.
Hosted by Eric Van Der Kleij, CEO of the Frontier Network, the duel titled “Bitcoin does not have any real value, or does it?” started off with an explanation from Beaver that he is not a cyberforensic auditor, as Dr. Wright once was, but a chartered financial analyst, “looking at this from a financial, economic and strategy, and bigger picture perspectives.” He only promised to argue based on a valuation of Bitcoin, and not any technical perspectives.
Beaver began by knocking down several perspectives that would lend value to Bitcoin. It’s not backed by an asset and it has no value. Van Der Kleij asked if you could assess a value from user confidence, to which Wright immediately replied no, and Beaver said it would be very hard to prove one. So finally, Beaver said the best bet is to look at the business angle, technology angle and regulatory angle, to which Wright said, “He’s fine.”
Wright then redefined the argument, noting that the commonly accepted concept of Bitcoin is flawed. It can be seized, he noted, and he created Bitcoin to create “honest records”. Ultimately, it will create a system of microtransaction rewards that will improve the services we use.
Van Der Kleij, seemingly stepping into the duel himself, after he said: “But Craig, that’s more about the utility of Bitcoin rather than the value.”
Craig responded: “That is what it is. That is value, utility. Tell me if I’m wrong, utility is value. Goods and services, things people want to use, is value. Money is not value. Money is not wealth. You have been lied to. There is no great wealth creation because of new shitcoins. Money is not wealth. Goods and services are wealth.”
At that point, the differing views of what value means in the world of Bitcoin really became apparent, as the duel broke down. While Beaver wanted to focus on the value of Bitcoin, and price of it, Wright preferred to talk about why exchanges like Binance, because of their alleged money laundering practices, are no threat to Bitcoin due to the increasing regulations in the world. He also returned to why micropayments make Bitcoin valuable.
That wasn’t the topic Beaver wanted to discuss though, as he kept returning to the risks to the price of Bitcoin. When again pressed on the topic, Dr. Wright noted that he himself was a risk, due to his massive holdings in Bitcoin. Finally, Wright tried to put a nail in the topic:
I don’t care. That simple. I’ve got a great company, with a great team, we’re expanding, we’re setting up new offices. Investment wise, I don’t need to do anything. People throw money at us if we want it. We’re not actually taking any and they keep offering it. People want us to do an IPO at nChain. Why? Because we have fucking patents.
It was at that point that the crowd started getting into it, as Petur Georgesson, managing partner at Capital Sniper Investments, asked how much the price of BTC might decline by this time in 2020. After commenting that he didn’t care, because he’s more focused on building things, he offered that 90% of the price of BTC might fade away.
At that point, the split between BTC and BSV became the topic, as Mike Beaver wanted to continue discussing the risks to BTC from other cryptocurrencies, insisting that was the topic, while Dr. Wright pointed out that Bitcoin is Bitcoin SV (BSV). But to answer the core question, he responded that BSV is protected from the competition by his armor of patents.
That confused Beaver, who then bemoaned:
So Craig wants us to talk about this whole topic of debate, the value of BSV. We were talking about the value of BTC, now we’re talking about the value of BSV, well why not the other 3000 coins. There’s a lot of interesting and talented developers there, sooner or later, we know one thing with technology, it only ever, in the long term, improves.
Wright then expanded on how the patents he’s been working on will keep BSV at the top of the pile, noting that any other crypto hoping to use the technology he’s built will have to pay for the right to do so, while BSV will be subsidized.
The debate continued in the manner for a few more minutes, with Beaver focusing on the competition raised by competitors to BSV and Wright repeatedly slapping them down with patents that already protect them from serious harm.
Seeking to change the tone, Van Der Kleij opened it up to the crowd to ask questions. Sir Toshi, noted BSV enthusiast, asked Beaver about LTC, which Beaver entirely ignored to return to his line of questioning and instead asked about how regulations might threaten various cryptocurrencies. While Beaver perceived this as a threat to the industry, Wright noted that he welcomes regulation to squash cryptos that don’t follow the law.
Wright was then asked by a member of the crowd why he didn’t patent Bitcoin when he first invented it. Wright responded that, in 2008, he didn’t believe it was possible to patent the technology. Also, he published it under the pseudonym Satoshi Nakamoto, and thought he couldn’t patent Bitcoin if he used an alias.
When asked if his patent library could prevent future innovation, Wright responded that it’s proven that by patenting technology, you not only protect it from copy cats, but you encourage others to recreate a piece of technology with the same purpose but by a different method, thus spurring innovation.
Beaver then disputed Wright’s point that patents would protect Bitcoin from competitors going forward, noting that patents expire and would eventually allow for someone else to create a better version of the technology. The discussion didn’t go very far though, as it was interrupted by none other than Tone Vays.
It was at this point that the duel produced the moments it will forever be remembered by. Tone Vays, recalling the moment in the previous fireside chat where Wright suggested that his university papers prove he was Satoshi, or was plagiarized by Satoshi, Vays preferred to go with the latter suggestion, and suggested that the crowd should not consider Wright relevant to the topic of Bitcoin as a result, suggesting Craig Wright is a fraud.
It doesn’t matter what your vacuous ideas are. It doesn’t matter whether you like my patents. It doesn’t matter whether you like nChain. In five years’ time, when we have another 1000 patents granted, and we have IBM, and we have Microsoft, and we have Apple, and we have Google, and we have all these companies paying us money, you can choose not to have anything to do with me. The same way you can chose not to have anything to do with the internet.
That was too much for one woman in the crowd, who yelled out: “That’s exactly what you want. You are a mole, trying to crash Bitcoin. Farmer Craig. Pumpkin man Craig. Go back to your farm, your pumpkins and your tomatoes and grow a superfarm.”
That’s when the duel totally fell apart. Wright responded that she’d just have to live with his invention. Tone Vays, still holding the microphone in the crowd, suggested Wright would be in jail in the next couple of years, Georgesson yelled from the other side of the crowd that he really wanted to hear a discussion on valuation still, and Beaver begged to make a final point about traceability.
As the duel finally reached a new semblance of decorum, Beaver commented that if blockchain technology truly guarantees traceability for every transaction, there is no value created by a notion of anonymity, ruining a selling point of BTC adherents. Wright flat out agreed.
Van Der Kleij noted that time had ran out on the duel and sought to bring an end to it. It didn’t end easily though, as the woman in the crowd once again began yelling at Wright, who responded to her as Beaver begged to make a final point about the declining value of an asset through use and surplus.
Dr. Craig Wright is no stranger to fireside chats, having previously sat down with Bitcoin Association Founding President Jimmy Nguyen to discuss the history of Bitcoin’s creation. To discuss the larger world of cryptocurrency, he recently sat down with the CEO of the Frontier Network, Eric Van Der Kleij, at the CC Forum on Blockchain, AI and Digital Innovation.
Van Der Kleij was quick to point out that the CC Forum wasn’t afraid about hearing Dr. Wright’s side of the truth, and asked what nChain has been up to. After covering how he came to nChain from his Bitcoin exile, Wright noted that nChain has been very busy patenting his innovations, with 826 currently filed, 1450 in the pipline, and approximately 200 granted or about to be.
When asked what Dr. Wright wants to do with these patents, he responded “Choose how the industry moves.” Van Der Kleij wondered if this might prevent others from using the innovations, to which Wright noted “They can do what they want, as long as they pay licensing fees.”
Once again pressed if this might prevent others from innovating on blockchain technology, Wright quipped “Do I care?” Once Van Der Kleij accepted that answer, Wright explained:
Stifle creativity? What creativity? We have STOs running around saying that they’re new because they’re a token. So what? Wealth isn’t money. Wealth is the creation of goods, services, assets, capital. Because you’ve created a token, so what? That just makes you another scammy loser. If you create a token, and you don’t have a business, you don’t have anything. You’ve got Tone Vays over there, that’s it. Empty, vacuous.”
Changing topic, Van Der Kleij then tried to turn the discussion to Dr. Wright’s ongoing legal battle in Florida, but Wright refused, noting that reporting and crypto twitter speculation has been far off base. “I’ve used toilet paper with more accuracy.”
Van Der Kleij then turned to Bitcoin’s intent to follow the law from the start, which Wright explained:
It’s intended to work in the law. The last sentence says ‘will follow rules.’ Rules include law. The difference between a rule and law is, law is a rule with a consequence. It is a subset of the word. And miners don’t create rules, they enforce rules. I keep stressing this, I’m going to start buying copies of the Oxford and Cambridge dictionary for people so that they can actually read the whitepaper and understand what these words mean.
On that note, he was asked about John McAfee’s new decentralized exchange, which lacks know your customer (KYC) protocols and opens it up to terrorist financing. “And Mr. McAfee, like everyone else, will eventually get caught,” Wright responded. “Blockchain is an immutable evidence trail. It is utterly traceable. It is the opposite of what everyone’s been running around. It is private, but not anonymous. Those records are admissible.”
On that note, Van Der Kleij noted that while he might not have total belief in Dr. Wright’s identity as Satoshi, he agrees with him on so much, but he wants to have more proof of his claims. “You don’t prove anything by moving a coin,” Wright responded. “The university still has my thesis from 2008. They still have my proposal. So I guess on that one alone, you can make the decision when it comes out, which it will.”
That led to a comment which would later prove to be explosive. “You can make the decision: did Satoshi plagiarize me? Because there are sections of the whitepaper, whole paragraphs, in some of my work.” Van Der Kleij was first baffled by the comment, and Tone Vays would later question if Wright was admitting to not be Satoshi, although the intent of the comment is clearly that Dr. Craig Wright is Satoshi, if not for another leap in logic to reach a different conclusion. “You can make the choice, I don’t really care,” Wright concluded.
Ultimately, when asked if Wright cares if his integrity is called into question, he responded that he really doesn’t. As nChain has already cornered the market on blockchain patents, big businesses like Wal-Mart will ultimately be forced to come to Dr. Wright for the technology they need. Van Der Kleij suggested that the world might be more accepting of Dr. Wright if he would prove his integrity. Wright railed back:
“So what you’re saying is, ‘you don’t do my way, that’s not integrity. We want this. We demand you do this. We want Bitcoin to be this way. [Van Der Keij interrupts ‘No, suggest’]. No, demand. It’s demand. You want me to be what you want me to be. So therefore…”
Concluding the discussion of Bitcoin and Dr. Wright’s history, Van Der Keij finally worried that Dr. Wright might be forcing his way on the world of blockchain. “It’s my invention, invent something else,” Wright retorted, rousing applause from a section of the crowd.
What came next might be the part that has received the most attention from the fireside chat, as Van Der Keij tried to lighten the mood by asking about Dr. Wright’s gardening habits, asking him about his tomato garden. “I actually used to have bonsai trees as well, and they’re all dead now,” he started. “I had some really good old bonsai trees, and bloody nChain and all the travel I have to do, every single one of them is dead. My tomatoes, they keep bursting and things like that, because I’m not there to do things. And the gardener sucks, because the last time, he actually mowed by pumpkins.”
“That’s probably not advisable,” Van Der Keij concluded.
The introduction of cryptocurrency and blockchain has spawned an entirely new way to do business. The power of blockchain technology is seemingly endless, with a myriad of potential applications and solutions that are able to revolutionize how companies operate and share information. Even beyond that, though, there are everyday practical solutions for individuals, as well, and one of the most noticeable is BitcoinFiles. It has proven to be an amazing way to store and share data and is made possible because of the Bitcoin SV (BSV) blockchain.
BitcoinFiles lets anyone store and share virtually any type of content—images, files, documents—right on the blockchain. This means that, even 100 years from now, that same data will be right there, ready to be viewed to anyone who has access. No data loss, no data corruption, no possible way for the information to be changed.
Any type of data can be uploaded and stored, but this doesn’t mean that there aren’t procedures in place to ensure the data is legitimate and legal. BitcoinFiles records IP addresses and the BSV community has already shown what happens when someone tries to store illegal content.
It isn’t even necessary to visit the website in order to upload information. The minds behind the project have created an application that allows the functionality to be integrated into other platforms, such as a website, so that data can be uploaded to and stored on the BSV blockchain from anywhere. With the virtually unlimited scaling possibilities of BSV, this means that even the most robust websites could be completely built and maintained right on the blockchain.
It took the public about 15 years to get used to the idea of email after it was invented. It has only taken about two for blockchain’s potential to begin to be realized. Applications like BitcoinFiles are helping to facilitate the next wave of innovative solutions and it’s amazing to try to envision where we’ll be even as soon as five years from now.
TrueReviews.io was one of the standout projects at the Bitcoin Association’s recent Pitch Day in Seoul, South Korea. Not wanting to lose that momentum, the project recently had successful limited alpha test, inviting real users to start using the service and test its limits.
True Reviews, founded by Connor Murray, seeks to solve the problem of fake or unfair business reviews by removing advertising from the experience, and instead replacing it with a Bitcoin SV (BSV) reward system.
The site began looking for alpha testers on October 12, quickly finding several dozen to help give the project a good once over. Murray returned to Twitter on October 15 to announce the results of the test.
This weekend we launched a limited alpha test of the backend infrastructure of @TrueReviews_io.
Across 62 registered users we generated 2,304 onchain transactions.
The 62 registered users created 76 reviews of businesses, and those reviews earned a total of 267 tokenized reputation points. Murray noted one user racked up a high of a 51 point reputation score, while another set the high for most reviews with 13.
This wasn’t just for fun though, as he noted that the real goal was to stress test the software, and prepare it to be more feature-filled in the future.
This testing period was designed to stress test our backend infrastructure which will power more complex applications than the review site seen by the alpha testers.
We are thankful to all that tested and gave us valuable information about our infrastructure.
The site promises to be much more than just a review system in the future. Once businesses get involved, the site’s “About Us” section notes that it could become a great system of marketing and reward in the future:
In exchange for a verified review, tokenized rewards (gift cards, coupons, etc) can be issued to the reviewer and redeemed at the business.
If you’re unfamiliar with Murray, he has been a mainstay of the BSV community for quite some time. He spoke at the Expo-Bitcoin International conference in Bogota, Colombia, about the importance of BSV adoption to solving global economic problems. He also hosts the Bitcoin and Beyond YouTube channel, where he’s previously interviewed Dr. Craig Wright on the history of Bitcoin, and the tense relationship the nChain chief scientist has with many of his rivals.
Bitcoin Association, the global organization for Bitcoin businesses, gathered a group of investors recently in Seoul to delve into a collection of BSV projects pitched by its creators and explore potential business opportunities with them.
Bitcoin Association created an avenue through the first ever Pitch Day for these ventures and commercial projects to get access to funding from investors, and improve their BSV-driven ideas and products further, and consequently, turn these projects into actual businesses.
The whole day Shark Tank-type event catered to 14 pre-screened, enthusiastic participants from different parts of the world, including China, South Korea, Japan, Italy, Mexico, and the United States. The “pitchers,” ranging from seasoned entrepreneurs to young developers, went through the same process: each was given maximum of 30 minutes to present their ideas and answer questions by the investors interested in the BSV ecosystem from across Asia, Europe and North America.
The investors had insightful questions, which shows they understand the space well, according to Mike Gamaroff from Wheedl, one of the commercial ventured that pitched.
“They’re not playing. They are here for business,” he told CoinGeek, adding, “You expect when you were asked questions, you’re going to have a quick answer. I learned quite a lot actually. I thought, ‘you’re right’ I’ve got to go back and do that.”
Developer Joonyeong Park, who has no experience running a business, made his debut speaking in front of an investor panels at this event. This showed that the organizers were open to anyone—old and new – as long as you have a promising business idea.
The investors responded positively to Park’s pitch by asking a series of questions, showing interest to his product. This made him excited after his presentation.
Among all the presenters, Park was the one who asked for the lowest funding—US$100,000—which made one of the investors share this tip with CoinGeek for future project holders.
Founding President of the Bitcoin Association Jimmy Nguyen thought the process challenged these young entrepreneurs to evaluate their business plan. He added, “think about things like how to generate revenue, what’s my operating expense going to be, how much money do I need to raise, who are my competitors, all those things that, as someone who has worked in the business world for a long time, I know you need to do for business planning.”
This Pitch Day is only one of the many initiatives that Bitcoin Association is doing to support the growth of the entire BSV ecosystem. Recently, Bitcoin Association has announced another initiative—sponsoring the Cambridge University Metanet Society to conduct events that educate and promote the powerful capabilities of the BSV protocol, blockchain, and cryptocurrency.
In 2020, the organization plans to organize the second Pitch Day in London, the same week the CoinGeek Conference will be held in the city.
Cryptocurrency, as the name implies, was originally designed by Satoshi Nakamoto to be an alternative to fiat. More than just a different type of currency, though, it was an improvement over what is currently available because it puts control of money back in the hands of all consumers. Many crypto projects have lost sight of that fundamental reason for the existence of digital currency, but Bitcoin SV (BSV) and its supporters haven’t. During the recent CoinGeek Conference Seoul gathering, Steve Shadders took a few minutes to discuss what is going on to restore Bitcoin to its original purpose and what this means to the Bitcoin ecosystem, as well as the future of finance.
Shadders is the Chief Technology Officer of nChain, one of the main entities behind BSV development. He met up with CoinGeek’s Stephanie Tower to offer some brief comments on what’s happening and to explain how the Road To Genesis is going to change digital currency. He explained that the transformation is all about removing limitations and restrictions on Bitcoin, adding, “Our goal is to bring the protocol back as close as possible to the original protocol that was designed by Satoshi, implemented by Satoshi ten years ago.”
Genesis will allow Bitcoin to go to the next level. It will incorporate new scripts, new opcodes, multiple transactions into a single unit and other enhancements that make it more robust. One of the biggest changes is the removal of block size limitations, which allows for unlimited scaling and growth. It also further enables people to build even more powerful applications on the BSV blockchain.
There has been a lot of confusion regarding what the real purpose of digital currency is—some believe it’s simply a way to invest and, hopefully, see incredible returns. Others, like those helping to build BSV, understand that this isn’t the true reason Bitcoin exists. Genesis is going to create an entirely new level of development as it completely stabilizes the protocol. Shadders points out that the protocol has been warped, just like the definition of Bitcoin, and that there was “never meant to be any protocol work in the first place. The only reason there is work is because we [have] to put it back to the way it was.”
Genesis is the name for the next big upgrade coming to the BSV blockchain, currently scheduled for February 2020. Once that upgrade is in place, Bitcoin growth is going to be exponentially higher than the levels currently seen. It’s all about building the next economy.
Kronoverse is working on very innovative new gaming technology on the Bitcoin SV (BSV) blockchain, and they had a lot to show at the recent CoinGeek Seoul conference. David Case, Chief Architect of the company, has learned a lot about Bitcoin in the process, and wanted to share some of that knowledge with CoinGeek’s Stephanie Tower.
His experience as Chief Architect of a Bitcoin gambling company has taught him a lot about the blockchain. “It’s been really interesting, because we started before we really even understood what Bitcoin is, or the power of it is,” he noted. “And so it’s kind of been my own evolution through learning what’s out there and how this stuff works, and it’s become an obsession of mine, it’s actually overtaken my life, so it’s been pretty fun.”
As a newcomer to Bitcoin, Case explained that his struggle has mostly been the widespread misunderstandings about the technology. “I think it’s mostly just very misunderstood, and that people don’t actually understand the power that’s there, and I’m sure that’s why Craig [Wright]’s been frustrated for all the last 10 years, because people don’t get it,” he said. “And even people who are really, really advanced in the crypto space don’t understand the power of Bitcoin, and it’s really powerful.”
But Case has learned a lot, and Kronoverse has come a long way. He spoke about the improvement’s we can expect to see soon from the company. “We’re starting to open up the platform that we’re building CryptoFights on so that other game developers can build apps with it, and that includes a wallet for their actual development environment and their phones, it involves server side management of the Bitcoin data and communicating that and managing communications across all clients,” he noted. “And it also involves a lot of being able to automate what’s going on, so you can have systems that just watch Bitcoin, and then can react based on however they’re programmed to react.”
How far away are we from seeing other developers on the Kronoverse platform? “We’re in the process,” he replied. “We’re actually opening up a developer waiting list right now, so as developers are interested, we’re going to start working with them one on one, to figure out what’s going to be the best way, the best people to work with to get this fully out.”
But the big news most gamers wanted to know as Kronoverse entered CoinGeek Seoul is the one that Case might have been most excited to talk about: when can we play CryptoFights? “First of all, we’re going to be having a Beta release of CryptoFights by the end of the year, which is really exciting,” he said. “And then, again, it’s just all the platform services that make it really easy for developers to build on Bitcoin without them really needing to know much about Bitcoin at all.”
As the Bitcoin blockchain was designed to be immutable, saving information for the world to forever look back upon, using it to archive important data is a natural use case. While naturally that works for digital money, as Bitcoin SV (BSV) has scaled massively and also become the data carrier of the world, it also works great for things like websites, best evidenced by ImmortalSV.com.
Much like how archive.org and it’s WayBackMachine helps archive the internet, ImmortalSV offers the same service to anyone looking to do the same on the blockchain. The service is pretty simple to use: simply enter a website address, and the site will take a screenshot for you to archive. Using a Money Button wallet, just pay for your screenshot to be recorded on the blockchain, and the site provides a bico.media address for you to see that it worked.
We tested the site and found it worked flawlessly for what it’s intended to do. Using the website for the top movie in the world at the time, Joker, we paid $0.08 in BSV, and an image of the site was quickly written to a transaction and saved on the blockchain.
There are some important differences from how archive.org’s service that have to be taken into account. The site doesn’t proactively seek out websites to record to the blockchain; it only saves those that users wish to save. That could be both a pro and a con, in that it may miss out on quality content that should be saved to the blockchain, but it’s also more efficient, in that it won’t save a bunch of junk there either. It also doesn’t save the code of a website like archive.org does, only taking a screenshot instead.
But the business model is very different from archive.org as well. ImmortalSV requires users to pay their own way to make the service work, while archive.org requires donations from the public to provide an ad free service.
We reached out to the site’s creator, Twitter user @Synfonaut, to ask him more about the site and what his motivation in creating it was. “The inspiration behind ImmortalSV was to build something quickly so that I could learn BSV development,” he replied. “I wanted to build a useful tool, and the ability to store snapshots of websites on the blockchain seemed like a good fit.”
If you’re hoping for ImmortalSV to become a more feature filled site, Synfonaut cautioned that he thinks you should look to another service. “There aren’t any more major plans for ImmortalSV,” he noted. “I had some future ideas for more archiving, but etched has done a fantastic job providing this.”
But if you’re impressed with Synfonaut’s ingenuity and first attempt at a Bitcoin app, he’s got more coming. “Shortly after ImmortalSV, I launched Open Directory and since then have been working on a major update that helps content creators monetize their work—I should have a big announcement soon!”
Ryan X. Charles has been credited as one of the smartest members of the Bitcoin SV (BSV) community, and for good reason. His Money Button company has been at the cutting edge of Bitcoin innovation, and he’s played an integral part in that of course. In the days that followed CoinGeek Seoul, Charles took to Youtube to discuss some of these innovations and clear up misconceptions.
As Money Button is a non-custodial wallet, whereby users have ownership of their own keys; but these keys aren’t just for money. Keys can be used to sign and encrypt arbitrary data inside transactions, he notes. He then gives an example of how this works:
You put a variable inside of your OP_RETURN, say something like signature, and then you run the sign operation, and then it will substitute the value of the signature into the signature variable.
He also adds that support for Offchain cryptographic operations is now supported, allowing for decrypting information offchain. This is necessary as many users or businesses would not want to decrypt their data onchain for the world to see.
All of the innovations Money Button is working towards is to move towards “the idea is to create the basic building blocks of an own your data paradigm for the internet,” he explains. We shouldn’t be defaulting to services like Facebook where the service provider becomes the owner of the content. “The way it should work in an own your data paradigm is that you own your data, you decide specifically who you share your data with, such as an advertiser, and they then pay you to deliver you a targeted ad.”
He then turns to Paymail, and a recent Twitter dispute over whether it could truly be a peer to peer (P2P) protocol. The debate, as he summarizes, was that the internet can never be truly peer to peer, which he admits simply due to the architecture of the internet.
But he feels the debate has gotten away from the point of the technology. Paymail isn’t being designed as a way to directly communicate with a peer, which would be nearly impossible, but rather to communicate with a peer in a secure method. “You’re sending a message to someone, only they can see that message. It’s peer to peer in that way,” he notes.
He further explains that Paymail, being encrypted end to end, is as P2P as you can get on the internet. He also talked about the benefits of the protocol, noting that Paymail is designed to scale big or small, for people self-hosting to large services.
He also notes Paymail isn’t supposed to be the final solution of creating identities. Considering emails are the existing identity system of the internet, it’s a solution that works to onboard new businesses and users now with a system that is easily understood and adopted.
It also has some work to be done before he’ll be satisfied with it. He adds that there is a need to send merkle proofs P2P to allow users to confirm validity of transactions, something that’s being worked on, and endpoints for P2P transactions, a system he says is being worked on imminently.
You can check out the full video below, as Charles explains it better than a summary ever could. Take note though, the last two minutes of audio don’t work.
Announcing a series of product updates, the app said it would allow users greater flexibility and control over their cryptocurrency payments, as well as announcing new integrations for the service. Of particular note was the launch of an integration for BSV-powered social media platform Twetch, which allows users to own and monetize their content in BSV.
In a Medium post, the RelayX team said they’re introducing new ways for users to buy BSV in alternative tokens, aka “sh*tcoins”.
First, we break ground by introducing alternative blockchains colloquially referred to as sh*tcoins to the Relay settlement ecosystem. In theapp latest version of our RelayX app, users can now fund their Bitcoin SV Superwallet seamlessly with Bitcoin Core (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Tether (USDT).
RelayX has also removed the need for users to hold a balance in BSV before they can use BSV, combining top-up and payment into a single function, with automatic conversions and fee calculations.
Second, users no longer need to maintain a balance in BSV in order to use BSV. Volatility is an ever-present issue for prospective users and we have alleviated that by combining Top up & Pay into one action. RelayX users can now scan a BSV address or enter a 1handle or Paymail and pay with any fiat or alternative cryptocurrency of their choice. All conversion and fee calculations are done for you, ensuring that the recipient receives exactly how much you wanted them to receive.
The wallet app has also added contact book functionality, making it easier for users to send to the same contacts time after time.
It noted, “Third, we are adding Contacts so you can save your friends’ 1handle and Paymails for easy sending. We envision enabling you to add fiat and alternative cryptocurrency contacts in a future release.”
Celebrating the product upgrades, the wallet app said it was RON, the Relay On-chain Network powered solely by BSV, that was delivering these benefits.
“Importantly, many of these upgrades to RelayX are made possible and efficient by RON — the Relay On-chain Network which operates entirely on Bitcoin SV. We are excited to share more details about RON — how it works, and how it can power a wide range of on-chain applications, e-commerce, wallets, and financial institutions, in an upcoming public launch blog post of its own,” according to the RelayX team.
The wallet app is currently in beta in Google Play and iOS Testflight.
Eli Afram is launching Amleh, tokenized gold powered by bitcoin SV.
The project is being pioneered by Afram’s Layer2, a holding company he co-founded alongside chairman Josh Sleiman and COO Bill Hotait, with the mission of bringing the “utmost utility and value to the BSV blockchain.”
The company operates four subsidiaries. First, there’s MetaNet Labs, the education arm of the business. The company’s mission is to help in training, awareness, and increasing the visibility of BSV across the firm’s core markets of Australia and Southeast Asia.
MetaNet Solutions, the development arm, is working on developing various ecosystem applications internally as well as external client developments on BSV.
Small World Mining is the company’s crypto mining operation, currently in development, which will use hydro and biomass power to support the bitcoin network.
But arguably most significant is Amleh, the first project of its kind to tokenize gold on BSV.
The Amleh token offers a digitized, on-chain gold token, emulating gold certificates that have existed off-chain for decades. While the principle is nothing new, the technology is revolutionary in its impact, thanks to the scalability of the BSV blockchain and the flexibility of the Tokenized protocol.
Scalability allows for gold to be tokenized down to the milligram, or pennies of value. With the network’s capacity for instant, secure transactions and mass scale, the token is envisaged as a possible currency—flexible and low-cost enough to be used to buy a packet of gum.
The initial issue is set for an amount of 10kg of gold. Audit reports will be uploaded and stamped immutably to the blockchain, with transparency and legitimacy both key tenets of the model.
According to Afram and the developers behind the project, Amleh is an attempt to move away from the “hysteria” of crypto labels. The initial issuance is not an ICO—rather, it is a digital representation of a real-world asset, as frequently described as a prime use-case by Dr. Craig Wright.
Powered by bitcoin SV on the award-winning Tokenized protocol, Amleh is backed by physical gold reserves held in a vault on a 1:1 basis.
Because BSV seeks to remain stable, it is perfectly suited to enterprise building. It’s also scalable, but not subject to surprise changes in technology or direction. The Tokenized protocol works within the real world, within the realm of regulatory frameworks and within the confines of law.
The firm is planning the development of a wallet as well as POS technology for Amleh, which could ultimately facilitate its use as a gold-backed cryptocurrency, should any government decide to use it in future.
The development is just one of a number of exciting projects discussed at the CoinGeek Seoul Conference earlier this month, at a time of rapid innovation and development on BSV.