TonicPow talks changing the advertising industry with BSV

The Bitcoin SV Virtual Hackathon has proven to be the ultimate event where some of the brightest minds congregate and share their inventions on the Bitcoin SV (BSV) blockchain. The solutions that have been presented have been mind-blowing, showing the power that BSV’s massive scaling unlocks.

TonicPow is one of the most revolutionary projects that have graced the event, and in an interview with CoinGeek’s Becky Liggero during the CoinGeek Toronto conference, the TonicPow team explained their product and why they decided to build on the only Bitcoin project that upholds Satoshi’s vision.

TonicPow is a peer to peer advertising system that allows website owners and advertisers to place their ads directly with each other without any friction and without leaving the website. With just a couple of clicks, you can place an ad in seconds, the team explained.

The team members — Luke Rohenaz, Attila Aros and Austin Rappaport — also discussed their experience working in an intensely competitive environment during the Hackathon. Their secret? Realizing what each brought to the table and working to integrate each member’s contributions.

“It was our first time working together, but we soon realized that we each brought something valuable to the table. It was a pleasure to divide the work and figure out what we were going to do in the first 24 hours. It was also great fun to interact with the other teams and see what they were doing. […] We came together as a really good team and we’re definitely going to keep working on this because we work so well together,” the team said.

Unknown to many, the three weren’t always a team. While two of the members had worked together previously on a non-blockchain project, it was only after the first BSV Hackathon was announced that they decided to join forces and develop TonicPow.

TonicPow won second place in the inaugural BSV Virtual Hackathon, walking away with 100 BSV. But to the three team members, their project means much more. To them, building solutions on the only Bitcoin project that supports massive scaling is what’s important.

So, why Bitcoin SV and not any other blockchain project?

There’s a lot of competition for that role, but it’s simply the best tool for the job. It’s what everybody is going to be using for everything, and if you’re to put your effort and energy into anything else, you’d just be wasting your time.

UptimeSV: An exciting hackathon victory sets up BSV for more real use

The first Bitcoin SV (BSV) hackathon was a huge success, with dozens of teams from around the world competing to make an application that would assist in user and developer onboarding. UptimeSV were crowned the winners of that contest at the CoinGeek Toronto 2019 scaling conference, and our Becky Liggero caught up with them on the sideline to discuss their project and their experience in the competition.

The idea behind the project is to give enterprises a solution their sorely need, while giving the BSV community a financial incentive to participate in the endeavor. “Well, we’re utilizing the money mobility of the Bitcoin SV network, as well as its decentralized user base, to solve the problem of DDoS (Distributed Denial of Service) monitoring for big enterprise customers,” said team captain Dean Little. “It’s a really big problem, it costs them a lot of money, the solutions out there aren’t really tailored to them. So we decided, let’s make something that solves the huge problem of enterprise that enables us to get thousands of new people on the Metanet for free.”

Liggero asked the team about the pressures of the hackathon, and if they had any other plans if the theme was different. “We had a few ideas but it was always up to the scenario,” replied Jye Turner. “We settled on probably about five, but once the actual scenario came out, it was a bit difficult, we had to switch it up. We stuck to the plan and didn’t get much sleep, but it was a good experience. Other than that, we got it all together exactly how we wanted it. We weren’t able to complete it fully but yeah, we’re happy with what we have.”

Finally, Liggero asked why they felt this was a project that was destined for BSV. “I think compared to a lot of the other Bitcoin blockchain forks out there, it really hits the strength of Bitcoin SV when it comes to the micropayments because currently with things like Paypal, you couldn’t imagine doing all these micro fees for small jobs for useful data,” Brent Bevear responded. “What Bitcoin SV really enables is that really quick, cheap way of transmitting money for work.”

All of this will be a great inspiration to the second BSV hackathon finalists, BitQ&A, Codugh and Hive. In their competition, they were asked to build something that would emphasize the use of small amounts of BSV by users. They will compete for the $35,000 in BSV prizes that will be handed out at CoinGeek Seoul.

If you want to see another inspiring and thrilling end to a hackathon, you can be a part of the crowd that judges these three finalist. Just check out our CoinGeek Seoul page and pick up some tickets for yourself.

Lin Zheming: Expanding Bitcoin SV adoption into China

China is an incredibly important country for the Bitcoin industry. With a large number of miners and application developers, getting China on board with the future of Bitcoin SV (BSV) is crucial. To explain how that can be done, Lin Zheming, Co-founder and CEO of Mempool, joined our Becky Liggero on the sidelines of CoinGeek Toronto 2019.

China is just too big of a market to ignore, and they’re one that’s keen to take part in the new Bitcoin economy. “It consists of a lot of purchasing power and production lines, and it plays a very important [role] in the world economy,” Zheming explained. “So we cannot miss the part of Chinese onboarding. And because of the investment and the speculating nature of Chinese, We’re likely to know deeper of Bitcoin SV. If they know more, there are so much more developers want to poor into the BSV side. So there were help with the world to have a better Bitcoin.”

To do that, Bitcoin services, and the BSV community, need to always keep their Chinese audience in mind. “I think that the most important part is that you need to set up a Chinese version of website, and you need to have an interface, your documents, written in Chinese so that those Chinese developers and users can get along very easily,” he said. “Besides from that, you need to know this is quite different policies, different regulations, between different markets. So, like in China, you cannot easily get your application published on app store, and there is no Google Play available in China. You need to find other localized markets to publish your application. So if they think that the market of China is very important, they need to find someone who really know about the market to help them.”

Doing that on social media can be tricky though, as the great firewall of China keeps everyone off of Twitter or Facebook. WeChat becomes the main avenue of conversation. “It’s just like in Facebook, why would those applications use Facebook as their main channel to touch their users?” he asked. “Because people love Facebook. Many people use Facebook half of their total internet usage. In China, WeChat consists about no more than, I think consist of 70% of the total usage hours of average people.”

But how does WeChat become the way Chinese citizens can become BSV adopters? Zheming explained how it works:

We use the blocking platform. We use WeChat to authorize the blocking for the users to log into our website…. So basically, if I need to send out some money to a new user, I just put the money into a voucher. The private key of the vouchers is held by us, but if the receiver comes online and they accept it, we can get the blocking token of the receiver so that we will transfer those funds directly to the account of the receiver.

David Case: Building games for the Bitcoin blockchain

The Bitcoin SV (BSV) blockchain is a great new platform for all types of businesses, and gaming is no exception. David Case, Chief Architect of Kronoverse, joined our Becky Liggero at the CoinGeek Toronto 2019 scaling conference to talk about how his company is pioneering in blockchain gaming.

To understand what Kronoverse is all about is to really understand how the blockchain can be used for amazing new things. “So Kronoverse is a platform that allow game developers to build video games where every action gets played out and recorded on the Bitcoin blockchain,” Case explained. “Which allows people to to be able to stream live games in a Twitch like fashion, but while actually watching the data, not by watching a video of it. And also go back watch historical games as they play out. We provide a number of services that enables developers to do that pretty easily.”

Kronoverse is already working on its first offering, and its following a concept that most gamers should be very comfortable with. “CryptoFights is kind of our first game that we’re building on the platform, and building the platform for as well,” he said. “So CryptoFights, you will create fighter, and that’s like any game. Your character creation: you say what you want their hair to look like, what color you want their skin to be, all that kind of stuff, what gender they are, what race they are, elves, dwarves, humans. So you configure your character, and then we also have other tokens that are weapons, armor, and those all exist as tokens on the blockchain.”

“And so you put your character, your fighter, into battle with those tokens that you own, and we validate that you own those tokens that you own, then you fight against each other. And the stats of your character and your weapons affect the outcome of the battle.”

Kronoverse announced they would build on the BSV blockchain in May, and Case explained that it was an easy choice. “Really, BSV is kind of our only choice at this point,” he said. “I mean, it solves all sorts of other problems, build all sorts of other toolings, and the scale, and just being able to rely on the commodity blockchain, that we don’t have to worry about how to solve the consensus aspects, but yet having the scaling and the cheap transactions, it’s just our only choice.”

Liggero asked Case how gambling and esports could work on a Kronoverse platform. “There’s all sorts to figure out how the proper way to legally structure that is,” he respond. “But because everything is fully auditable, and is recorded on the blockchain, so first of all its really easy to let players wager against each other, and actually contribute as part of their Bitcoin transactions, contribute the funds that are going to be used to pay out at the end of the battle.”

He also sees new opportunities due to the public nature of BSV, making it an easier system to work with than other esports have had access to. “There’s also all sorts of other opportunity for external, third party people to watch what’s going, and place their own wagers, their own outcomes,” he noted. “That’s completely outside of us entirely, it’s just this data is being recorded. If you can follow our protocol, and follow all the code, and the code all lives in the blockchain itself as well, so everything is completely open. All the rules, everyone understands what’s going on because it’s all out there in public. So people can implement and interact with that data in any way they want.”

Brad Kristensen: Scaling Test Network makes big blocks a reality

The massive blockchain scaling that’s happening on the Bitcoin SV (BSV) network doesn’t just happen; it takes a lot of work. To help guarantee it works well when changes come to the mainnet, the development team have the Scaling Test Network (STN). Brad Kristensen, Software Engineer at nChain, joined CoinGeek’s Becky Liggero on Developer Day at the recent CoinGeek Toronto 2019 scaling conference to explain the importance of the STN.

The STN isn’t just a sandbox for the Bitcoin SV Node Team to play in, it has important roles to play in the development of BSV. “The Scaling Test Network fourth compatible network for the SV node,” Kristensen said. “It’s important for the ecosystem because it helps the SV node developers get a direct feedback loop on what they’re working in. So they produce the next set of changes, they run it on the STN, the STN provides immediate feedback thanks to the large transaction volume and the large amount of blocks, as to whether they’re making the right move forwards, or in some cases, backwards.”

What’s coming next for the STN is some of the biggest innovations for the BSV blockchain, but as Kristensen told Liggero, he also hopes to see greater participating from the business world. “I would expect to see all of the big leaps forward that Bitcoin SV makes would happen first on the Scaling Test Network,” he said. “We’re hoping to get more businesses running on the Scaling Test Network, testing their applications, building their applications. It’s really supposed to be the onramp and playground for Bitcoin SV and the insight of to what’s coming to Mainnet.”

That’s not an impossible ask either. The STN was opened to businesses in April, and interested groups can get in touch with nChain to start trying out their own business use cases and applications to ensure they are ready for the next phase of the BSV blockchain.

As 2019 is the year of blockchain scaling, Liggero asked what role the STN play in achieving huge blocks. “We make sure it can happen,” Kristensen said simply.

James Belding: BSV Smart contracts can help businesses of all sizes

Tokenized is using the massive scaling of the Bitcoin SV blockchain to introduce a world of possibilities for individuals and enterprises alike. To explain its recent ramp up and where it’s planning to go with future plans, its founder, James Belding, joined our Becky Liggero on the sidelines of the CoinGeek Toronto 2019 scaling conference.

As Belding has said before, a big game changer for Tokenized’s progress has been the expansion of the OP_RETURN payload limit, which had previously constrained them. ”We just couldn’t get what we wanted into the transaction, not enough size,” he said. “But the moment the restriction was lifted, then we had open season, we could finally fulfill the vision that we always wanted to do. That happened in February I think, and ever since then we’ve been scrambling to catch up and deliver on the promises that we had.”

The potential uses of having a law abiding token system on the Bitcoin SV (BSV) blockchain are vast, and Belding spelt some of them out for Liggero. “You’ve got your obvious token examples at multiple work now, like your financial instruments, I mean silly tokens like movie tickets, admission tickets things like that, and they offer a real significant value proposition compared to what you can do today,” he said. “But there’s much, much more that will start to be revealed and the smart contracts that we have today can be tools for governance.”

Applying tokens to enterprise governance is a truly exciting prospect, and one that will make BSV an exciting prospect to mom and pop shops and multi-national corporations alike. “When you get to the bigger levels you got lawyers to help you out and take care of administrative, but if you’re a smaller company and medium size company, it’s a tremendous amount of work, administrative work,” he explained. “A lot of little rules you gotta follow and it’s easy to forget and not do them in time, and do them in the right sequence. A smart contract can have all the rules built into it, so it can basically guide you like safety rails to make sure that you do in the right sequence. You sign it properly, it’s all done. And then of course it’s immutably stored forever on the chain right so that you don’t have to worry about managing your contracts, where do you keep them, where to keep your backups, how long if you keep them”

Liggero asked Belding what the longer term plans are for Tokenized, and the answer was to widen the appeal of tokens through applications. “Basically we’re building a full desktop app, as well as a mobile app, to basically do all these features,” he revealed. “So it’s gonna be designed for everyone. I think it’s more it’s like an iPhone right? Like business people use iPhones, regular people use iPhones, all the features you want to talk to people and all that stuff it’s the same. When it comes to management contracts and your finances, the things the same. Sometimes it gets a little more complex to the analysis and things like that, enterprise, but foundationally, it’s the same.”

Cole Diamond explains the Canadian crypto market and why he likes BSV

The Canadian Bitcoin industry has been slow to build, and it has stumbled along the way. All the same, it is looking to grow massively and soon, and there was no better expert to explain the oncoming storm of Canadian crypto adoption than Cole Diamond, CEO of Coinsquare exchange, who joined Becky Liggero at the recent CoinGeek Toronto 2019 scaling conference.

Part of the Canadian aversion to crypto has been tied to a commitment to more stable investments. “You’re talking about a market that is traditionally, incredibly safe,” Diamond explained. “Like almost every Canadian is 100% focused on the real estate market or buying mutual funds. So, it’s taken a little bit longer for this market to take off to this space, but the underlying interest is unbelievable.”

The interest in investment, as the market shakes off dark coins and proves it can be a better place to put your money, will draw in the average Canadian. “Like anywhere else in the world, there’s a tremendous amount of excitement, there’s a tremendous about of greed, I’ll call it what it is,” Diamond said. “And that’s started to buckle up quite significantly. Not to mention, in Canada, you got a number of public companies, probably the most in the world, in this space, that’s attracted quite a bit of interest. So I think, as we move into the next bull run, Canada’s going to be at the heart of everything.”

Before any of that could start though, Canada had to experience its share of setbacks, with QuadrigaCX being a notable example. “Coinsquare is vocal about pro regulation for this space,” Diamond noted, going on to explain how his company won’t repeat the same mistakes. “Coinsquare’s in the process of applying for broker dealer and ETS registrations in Canada and in the United States. We believe that we got to do a lot of clean up in this market, get the wrong actors out, get the right actors, have a prominent focus so we can scale efficiently and what people are used to in the financial services market.”

Coinsquare wants to maintain its neutral position in the crypto industry, but Diamond will admit to having an admiration for Bitcoin SV (BSV). “I’ll tell you what I’m really excited about, about BSV, and that’s its ability for massive scale,” he told Liggero. “You got a much tighter, stronger code base, the original Satoshi Vision, smaller code base means better opportunity. The right team looks like it’s in place in order to make it real. And a platform like Coinsquare needs to make sure that it’s delivering for its customers in the most fast, efficient manner possible, so we need massive scale. So we’re probably going to need BSV as a key piece of infrastructure in the future.”

Kate Hiscox: Providing institutional financial tools with Bitcoin SV

Institutional investors and banks will play a key role in driving adoption and finding huge uses for Bitcoin. Kate Hiscox, CEO of DRIVE Markets and DRIVE Pay, is focused on providing services on the Bitcoin SV (BSV) that can bring these groups into the fold. She spoke with our Becky Liggero at the recent CoinGeek Toronto 2019 scaling conference about how she’s achieving that goal.

DRIVE started with DRIVE Markets, a product which Hiscox explained, is attempting to provide all the tools institutional traders have become accustomed to, but for cryptocurrency trading. “DRIVE Markets is really designed to bring traders over from the forex markets to trade crypto,” she said. “Forex traders can make a lot more money trading crypto. But they’re used to certain tools. They use high frequency algos (algorithms) for trading and so on, so DRIVE Markets is built to offer them that experience.”

So far, it looks like it’s been working out, and DRIVE is growing as a result. “I’m very happy to say our volume’s doubled since we opened just last month,” she told Liggero. “Very, very exciting. DRIVE Markets, you’d more liken it to, say, BitMEX versus a Binance, for example.”

Where DRIVE is looking to make a huge difference is by providing an evolved cross border payment system for banks. “DRIVE Pay, we saw an opportunity, something really that Ripple established, and showed to everybody that there’s an opportunity to improve cross border payments through efficient clearing and settlement,” she said. “Ripple is great, but we felt it created some unnecessary bottlenecks by not using existing banking systems, and in particular, SWIFT. SWIFT is used by more than 10,000 banks in 200 countries. They send 30 million messages a day. So all the banking systems speak to it. So DRIVE Pay operates in a very similar model to Ripple, but instead of using our own sort of unique payment messaging system, we’re actually using the same schema as SWIFT.”

As opposed to Ripple, which needs banks to totally adapt to a new system, DRIVE Pay is playing into their strengths. “So that means, for more than 10,000 financial institutions around the globe who want a solution, it would be very easy for them to adopt DRIVE Pay” she explained. “And that’s to say, it’s really for bank wires right now, could take up to 24 hours and more actually to be transmitted cross border, with DRIVE Pay, you’re about to do it in seconds, and again, very easy adoption for clients, because we use the SWIFT network.”

The choice to work with BSV came down to plenty of reasons, and as Hiscox explained, it just made a lot of sense for their needs. “Bitcoin SV have proven they have an enterprise mentality,” Hiscox explained. “They can deal with the kind of scale that we expect DRIVE Pay to deliver. We felt pretty good about their coin as a bridge currency in the same role as XRP is for Ripple. And they’ve just been a tremendous partner.”

How Kronoverse revolutionizes multibillion-dollar gaming industry with Bitcoin SV

By now, everyone even remotely connected to the blockchain industry should realize the power that the technology offers for providing better transparency, better record-keeping and better peer-to-peer (which includes B2B and B2C) interactions. The capabilities of blockchains are only limited to one’s own imagination and, with the recent success of Bitcoin SV’s (BSV) Quasar upgrade to expand block sizes, BSV is leading the way toward more blockchain adoption. Kronoverse, a gaming and esports platform, recognized the potential of BSV to help the multibillion-dollar gaming industry and is building its entire company around BSV technology.

In a recent presentation on Kronoverse and why blockchains are important for gaming’s future, Kronoverse’s Adam Kling and David Case provided a detailed overview of how BSV will change competitive gaming. With so much at stake — millions of dollars in prize money each year — it’s important to ensure that nothing about a game competition is left to chance. The community is forced to assume that everything is operating legitimately, but the back end of gaming operations remain hidden away and private. BSV is now helping to change this. (1:15)

Game data can be mapped to the blockchain in order to give new benefits to players and developers. Not one company would own the data — it would be accessible to everyone. Today, the back-of-the-house operations are unverifiable and proprietary, forcing the gaming community to trust that everything is legitimate. By moving games to the blockchain, actions can be chained together to provide proof of all activity and also to provide better transparency.

Using BSV would allow the permanent storage of all achievements, all game histories, all wins and losses and all purchased or won items. It would also facilitate the ability to view past games, publish new content and to watch live games easily from anywhere. It can also create new revenue streams that were never possible before.

Kronoverse is making this possible and is revolutionizing the gaming industry. Through systems such as its Kronicler fair witness agent, player actions are viewed and additional input can be added. This allows escrow, time-stamping, flow control, random number generation and more to be added.

This is possible on BSV because of the blockchain’s versatility. Every game is comprised of a series of transactions, or data, and creates one straight chain of events that represent the specific game. Every move becomes a signed Bitcoin transaction, allowing a permanent record of every individual action in the game. (10:14)

CryptoFights, which is backed by Calvin Ayre and others, is a live version of a BSV-based game that has the look and feel of any other battle game. It operates just like any other game, but incorporates the strength of the BSV blockchain to offer a better solution that puts the true gaming power in the hands of the players where it belongs.

BSV is revolutionizing the way the world views blockchains and Kronoverse is revolutionizing the way the world views gaming, thanks to BSV. With the proven capability to offer large block sizes of over 2 gigabytes, BSV is quickly becoming the ideal blockchain solution for businesses around the globe.

Steve Shadders: Bitcoin development approaching exponential payoff

The continued development of Bitcoin SV (BSV) sits largely on the shoulders of brilliant men like Steve Shadders, chief technology officer at nChain, and his team. CoinGeek’s Becky Liggero caught up with him on Developer’s Day at the recent CoinGeek Toronto 2019 scaling conference, and they talked about the effort that has gone into BSV and what’s coming next.

Developer’s Day was a great opportunity for the world to learn what’s coming down the pipe from all sorts of businesses, but also for the one’s doing the work to feel in their element. “Well today is actually really exciting for us as developers because it’s the time when we can just talk as technical as we want. We can really nerd out,” Shadders said. “But it’s important, I think, for developers to keep their focus on user experience. And in fact, we have a whole section of the day devoted to that.”

As the infrastructure of Bitcoin gets back to the vision it was originally intended to have, there’s been a new focus on a more user friendly experience. “It’s important to make things easy for people so that they’ve got a friction free path into Bitcoin,” Shadders told Liggero. “And that includes developers as well. Our recent hackathon, the twist of the theme was take the onboarding problem for users, but also apply it to developers as well.”

All the same, 2019 continues to be the year where Bitcoin scales the blockchain massively, and that’s been Shadder’s focus. “There’s a whole lot of work sort of behind the scenes to do with scaling, which I won’t get into the technical detail of that because it’s pages and pages,” he said. “Really exciting stuff increasing our capacity.”

He concluded by telling Liggero how close the BSV community is to seeing incredible changes thanks to massive scaling, something that’s already being proven since the Quasar protocol update was pushed out:

“You know, we’ve got incremental changes, but the thing with development life, it’s sort of an exponential payoff. You lay a lot of groundwork and then you reach a point where you start reaping the rewards over and over and over again. And we’re at that pointy end of the curve right now so it’s fantastic. The new mechanism of block propagation really solves one of the big problems of Bitcoin. There is no barrier to us now for scaling.”

Calvin Ayre: Bitcoin scaling is always important

Calvin Ayre, founder of CoinGeek and Bitcoin ambassador to the world, has seen the potential of Bitcoin for many years now. Thanks to its return to its original protocol, and a focus on massive scaling, that potential is now becoming a reality. He joined CoinGeek’s Becky Liggero at the CoinGeek Toronto 2019 scaling conference to talk about the great achievements he’s now witnessing.

As he’s previously made clear, scaling is the focus of Bitcoin in 2019, and it’s achieving it in spades, with the Quasar protocol upgrade increasing maximum block sizes to 2GB. “I want to quote Dr. Craig ‘Satoshi Nakamoto’ Wright. ‘Scaling solves all problems,’” he told Liggero. “But scaling isn’t important only right now, scaling is always important. But if you look at it from a perspective of whether scaling is important now versus later, of course, sooner is better. But the reality is that scaling solves all problems. Craig said it could scale, Craig said Bitcoin, as originally invented by him, was born to scale. They said it couldn’t be done, and now we’ve proven it. And I think that’s what’s creating all the excitement.”

Dr. Wright has been steadily working to prove he’s the real Satoshi Nakamoto, and he’s proving that fact to new people every day, but more still needs to be done. “I think there’s people out there that still don’t feel that it’s been proven to them, but he’s proven it to me, multiple ways, multiple times over the last few years,” Ayre said. He added:

So, I’ve been saying that he’s proven it to me. What’s happening is more people are feeling that he’s crossed the proof threshold. But ultimately, the only way to really prove it, and will be accepted by all the people that matter in the world, and I’m not talking about the trolls, they actually do no matter, but all the people that matter are waiting for him to prove it in front of a respect arbitrator. And that’s why he’s attempting to get his facts into court, and letting a judge review them because the judge is going to come to the same determination as I did when you review all the material, which I have done.

Dr. Wright’s commitment to restore the original Bitcoin, now represented by Bitcoin SV (BSV) promises to provide real utility in peer to peer money and data ledgers. Unfortunately, some still fail to understand what Bitcoin was always meant to be. “Why is it so hard to understand?” Ayre asked. “I mean, people are out there saying that Bitcoin SV is not the original protocol, but in fact, it is. It’s the one that follows the white paper exactly. It’s Craig getting a branch of the original Bitcoin blockchain to go back and conform to the original white paper.”

That original vision of Bitcoin is now proving to be quite potent, and it’s a credit to Dr. Wright’s original work on the Bitcoin whitepaper. “What an amazing testament to how brilliant Dr. Wright is that people said that things couldn’t scale, they hadn’t figured the technology out, and all you had to do is go back to the original one that he invented ten years ago, and all of a sudden it works,” Ayre remarked.

Bitcoin has made a remarkable recovery because of this return to form, and CoinGeek Toronto 2019 was a celebration of unleashing the power of BSV. While Ayre himself is a huge reason for the conference being a huge success, many people contributed to the event that would give a voice to the real supporters of Bitcoin. “Because of the way the trolls have taken over the narrative online, it was important to create a parallel universe of people who wanted to focus on the technology,” he said. “And that’s what we’ve created here. And this is developers day, tomorrow is the main conference day. This conference revolved around the world, it will be in Seoul next, it was in London previously, Hong Kong before that.”

Thanks to CoinGeek conferences, the people who really matter can learn about and work on Bitcoin, and build something useful for the world. “This is an event for people to get together and talk about the technology, and what you can actually do with it,” he noted. “Applications that can be built on top of it. This isn’t about talking about the nonsense of speculating on tokens that have absolutely no reason to exist. This is about real technology that can solve real problems for people and hopefully, improve the lives of people.”

It’s time for Bitcoin to grow up, CoinGeek Toronto 2019

Bitcoin may have just celebrated its tenth birthday, but the big push didn’t start until only a couple of years ago. As awareness and interest grow, the excitement turns to the realization that cryptocurrency is not just a toy – it’s a legitimate tool that will completely change the global financial ecosystem. In order for this to happen, though, in the words of Bitcoin Association President Jimmy Nguyen, “It’s time for Bitcoin to grow up.”

Nguyen led a discussion at CoinGeek Toronto 2019 with several individuals who understand well both the crypto and finance spaces. Centbee co-founder Angus Brown, nChain CEO David Washburn and co-founder and CEO of FRNT Financial Stephane Ouellette all joined Nguyen on stage to discuss how crypto is impacting the financial world and what changes are coming to make it even better. Before becoming involved with digital currency, all three were deep in the financial industry, so their goals with crypto transcend well beyond the typical crypto boundaries.

Bitcoin needs to be taken to a level that makes financial institutions and investors comfortable in supporting the ecosystem. Many are hesitant to embrace the technology for a myriad of reasons – old habits, resistance to the connotation of the term “crypto,” volatility and risk management, among others – and overcoming these hesitations are paramount to seeing Bitcoin prevail in the financial world.

FRNT is helping rewrite the script between crypto and finance by offering a platform that allows investors to take advantage of Bitcoin SV (BSV) derivative products. The platform was funded, in part, by Calvin Ayre and his Ayre Group and is changing how Bitcoin is viewed from a financial perspective. (5:03)

One area that could help tear down the barrier between crypto and finance is the introduction of regulations. The BSV community has made it clear, as opposed to most other crypto projects, that regulations are welcome. This is due to the acknowledgement that, for digital currency to work, it has to be regulated. It also stems from the fact that Bitcoin, as provided by Satoshi Nakamoto, was never meant to work outside of legal boundaries the way that many crypto projects have tried to assert.

In order to help facilitate the introduction of regulations, legislators and policymakers need to break down the Bitcoin infrastructure and address different components separately. Exchanges should be better regulated as a whole, especially in terms of crypto-to-fiat activities. Additionally, the introduction of whitelists or blacklists for token projects would help to make the Bitcoin space more mature.

Bitcoin has the capability to do something that no previous technology has ever been able to provide – true risk management and transparent audits. It can almost completely prevent financial fraud and revolutionize the accounting processes for financial audits, and this level of attention is only possible with BSV. While companies have attempted to tackle the processes through other blockchain projects, they have come to realize that those platforms are too slow. However, BSV’s large scalability makes it the perfect solution and it will become the go-to platform for many large businesses.