Jimmy Nguyen, one of the foremost authorities on Bitcoin SV (BSV), is the founding president of the Bitcoin Association. This week, however, Nguyen is returning to his law roots as he takes part in the upcoming International Association of Defense Counsel’s International Corporate Counsel College event.
This event will be held near Zurich, Switzerland, and brings together the in-house counsel for law firms, looking to educate and give them the opportunity to ask questions related to issues affecting global companies.
The two-day event will occur on October 24-25, with Nguyen set to be the keynote speaker on the 24th. He will also be part of a panel discussion the following day. The panel, “Smart Contracts: Everything You Wanted to Know, but Never Dared to Ask,” will take a close examination of the various uses and applications for blockchain technology. The specific focus will be on how this technology is becoming increasingly important to companies and how that will affect the legal counsel’s office.
The moderator of the panel will be Ianika Tzankova of Tzankova Legal Consulting and Tilburg University, in Tilburg, Netherlands. Other presenters will include Flaco Kreis of CMS Hasche Sigle in Munich and Gabriela Lippe-Hoist, the co-founder and director of Acqupart Holding AG.
Nguyen, a former digital technology lawyer since the 1990s, said in a statement related to his appearance at IADC:
Blockchain and smart contracts are game-changing for the legal profession, as well as businesses in all industries. I’m excited to bring what I’ve learned in my two decades of legal experience as a partner at major U.S. law firms, along with my current work in blockchain and cryptocurrency, to this gathering of top corporate lawyers in Europe. This event also gives me the opportunity to further explain how BSV is creating a regulation-friendly ecosystem, unlike so many other cryptocurrency camps, a message which will be supported by major enterprises and their corporate lawyers.
The IADC is an event hosted by the International Corporate Counsel College. This conference is proposed as an opportunity to bring together the “in-house counsel and their advisors to gain knowledge together and spend time with others who face similar issues.”
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.
Bitcoin Association announces its title sponsorship of the Cambridge University Metanet Society for the 2019-2020 academic year to support study and development of Bitcoin SV. The Society will use the financial support to conduct events that educate and promote the powerful capabilities of the BSV protocol, blockchain, and cryptocurrency.
Bitcoin Association is the global industry organization for the business of Bitcoin. It supports Bitcoin Satoshi Vision (BSV) as the only cryptocurrency with a blockchain that significantly scales (now), has robust utility (now), and is committed to a set-in-stone protocol for developers to build enterprise-level applications (now). BSV is also the only project that adheres to the original design of Bitcoin creator Satoshi Nakamoto. In short, BSV is Bitcoin.
Founded by Robin Kohze, a Cambridge genetics PhD student, the Cambridge University Metanet Society recognizes that the Bitcoin protocol has more to offer than just a decentralized cryptocurrency. The Society draws its name from the “Metanet” project designed by Dr. Craig S. Wright – Chief Scientist of nChain, the leading blockchain advisory, research and development firm with an office in London. The Metanet is a global protocol and framework for structuring and facilitating an Internet that operates on the Bitcoin blockchain. It combines Bitcoin’s dual capabilities to send financial payments and transmit data simultaneously in the same native transaction. The Metanet can create a better, more commercial Internet where all user activity and data has value to users. It is only possible on the Bitcoin SV blockchain, due to its massive scaling capability.
Kohze recently took 2nd place at Bitcoin’s Association’s second BSV Hackathon, with final judging at the CoinGeek Seoul conference in South Korea. His project “Hive” drew upon his genetics background; it creates a “beehive” that connects information added by individuals around the world. Every content node containing the information needs one or more linked nodes and for every link to a node, it has a dynamic cost. The users are notified when new content is added, and the information is fetched directly from the BSV blockchain.
The Cambridge University Metanet Society advances study toward achieving Metanet projects on BSV. It hosts weekly meetups and programs on the Cambridge University campus for students and thought leaders to hear speakers, debates and tutorials.
As President of the Cambridge University Metanet Society, Robin Kohze remarks: “Cambridge is traditionally a place to bring the bright and creative together to exploring daring ideas and challenge the status quo. We thank Bitcoin Association for its financial support, enabling us to host 22 events this academic year to teach and support a new generation of Bitcoin developers that focus on real world utility applications.”
The first event under the sponsorship will be the evening of October 17, with featured speakers Dr. Craig Wright and Jimmy Nguyen, President of Bitcoin Association.
Nguyen comments: “As Bitcoin’s true power is finally being unlocked on Bitcoin SV, we are thrilled to support bright, daring minds at Cambridge University learn how to build the Metanet. Their work will contribute to a future Internet that truly rewards users for their data, creates monetary value in user online activity, and incentivizes higher quality content – all only possible on BSV.”
Register to attend the Metanet Society: The Bitcoin Vision event, organized by Cambridge University Metanet Society, here.
Bitcoin Association объявляет, что становится генеральным спонсором сообщества Metanet Society при Кембриджском университете на 2019-2020 академический год с целью поддержки изучения и развития Bitcoin SV. Metanet Society будет использовать данную финансовую поддержку для проведения мероприятий по продвижению и распространению информации о возможностях протокола BSV, блокчейна и криптовалюты.
Bitcoin Association — это глобальная отраслевая организация для биткоин-бизнеса. Ассоциация поддерживает Bitcoin Satoshi Vision BSV как единственную криптовалюту с блокчейном, который уже сейчас обеспечивает эффективное масштабирование, имеет многочисленные способы практического применения и нацелен на создание надежного и стабильного протокола для нужд разработчиков приложений корпоративного уровня. Кроме того, BSV — это единственный проект, который следует оригинальной концепции создателя Bitcoin Сатоши Накамото. Другими словами, BSV — это и есть биткоин.
Сообщество Cambridge University Metanet Society, основанное аспирантом факультета генетики Кембриджского университета Робином Козе (Robin Kohze), признает, что протокол Bitcoin может предложить намного больше, чем просто децентрализованную криптовалюту. Название сообщества содержит отсылку к проекту Metanet, который был создан д-ром Крейгом С. Райтом — главным научным сотрудником nChain. Это ведущая компания, занимающаяся консалтингом, исследованиями и разработкой в сфере блокчейн, офис которой находится в Лондоне. Metanet — это глобальный протокол и основа для структурирования и обеспечения функционирования интернета, работающего на основе блокчейна Bitcoin. Он сочетает двойную функциональность Bitcoin, которая позволяет одновременно с отправкой платежа осуществлять передачу данных в рамках той же платформенно-ориентированной транзакции. Metanet может создать улучшенную, более коммерчески-ориентированную версию интернета, в котором вся активность и все данные пользователей будут представлять для них реальную ценность. Реализация подобной идеи осуществима только на базе блокчейна Bitcoin SV, поскольку только он поддерживает массивное масштабирование.
Недавно Козе занял 2-е место на хакатоне Bitcoin Association BSV Hackathon, финальный этап которого прошел в рамках конференции CoinGeek Seoul в Южной Корее. Его проект Hive связан с генетикой и ставит целью создать цифровой «улей», который сможет объединять данные, предоставляемые людьми со всего мира. Каждый узел, хранящий данные, нуждается в одном или нескольких связанных с ним узлах, а каждая привязка имеет динамическую цену. Пользователи получают уведомления о добавлении нового контента, а информация берется непосредственно из блокчейна BSV.
Cambridge University Metanet Society продвигает исследования, направленные на реализацию проектов Metanet на основе BSV. Еженедельно в кампусе Кембриджского университета проводятся мероприятия и встречи, в ходе которых студенты и ученые могут слушать выступления докладчиков, а также принимать участие в оживленых дебатах и семинарах.
Робин Козе, президент Cambridge University Metanet Society, отметил, что «Кембридж традиционно является местом, где интеллектуальные и творческие личности встречаются для совместного изучения самых смелых идей и бросают вызов статус-кво. Мы благодарны Bitcoin Association за финансовую поддержку, которая позволит нам в этом академическом году провести 22 мероприятия для обучения и поддержки нового поколения биткоин-разработчиков, создающих приложения для практического применения в реальном мире».
Первое такое мероприятие состоится вечером 17 октября, и на нем выступят д-р Крейг Райт и Джимми Нгуен, президент Bitcoin Association.
Джимми Нгуен прокомментировал это так: «Истинный потенциал технологии Bitcoin наконец раскрывается благодаря Bitcoin SV, и мы очень рады оказывать поддержку ярким и смелым умам Кембриджского университета в освоении искусства построения сети Metanet. Они несомненно внесут свой вклад в создание будущего интернета, который будет вознаграждать пользователей за их данные и сделает пользовательскую активность по-настоящему ценной, стимулируя создание более качественного контента. И все это может быть реализовано только на основе блокчейна BSV».
비트코인 협회는 비트코인 SV의 연구 및 개발을 지원하기 위해 2019~2020학년도 캠브리지 대학교 메타넷 소사이어티에 대한 타이틀 후원을 발표합니다. 소사이어티는 재정 지원을 이용하여 BSV 프로토콜, 블록체인 및 암호화폐의 강력한 기능을 교육, 홍보하는 행사를 실시하게 됩니다.
비트코인 협회는 비트코인 기업을 위한 전 세계적인 산업 기구입니다. (현재) 크게 확장할 수 있고, (현재) 강력한 유용성을 지닌 블록체인을 바탕으로 한 유일한 암호화폐로 비트코인 사토시 비전(BSV)을 지원하고 (현재) 개발자들이 엔터프라이즈급 응용 프로그램을 구축할 수 있는 명확한 프로토콜 개발에 헌신하고 있습니다. 또한, BSV는 비트코인 창조자 사토시 나카모토(Satoshi Nakamoto)의 원래 디자인을 그대로 따르는 유일한 프로젝트입니다. 간단히 말해 BSV이 비트코인인 셈입니다.
캠브리지 유전학 박사과정 학생인 로빈 코제(Robin Kohze)가 설립한 캠브리지 대학교 메타넷 소사이어티는 비트코인 프로토콜이 단지 탈중앙화된 암호화폐 이상의 것을 제공할 수 있다는 점을 인식하고 있습니다. 소사이어티는 런던에 사무소를 둔 주요 블록체인 자문, 연구 및 개발 회사 nChain의 수석 과학자 크레이그 라이트(Craig S. Wright) 박사가 고안한 “메타넷” 프로젝트에서 그 이름을 따왔습니다. 메타넷은 비트코인 블록체인을 기반으로 운영되는 인터넷을 구성, 촉진하기 위한 글로벌 프로토콜이자 프레임으로서, 동일한 속성을 가진 거래에서 동시에 금융 결제를 전송하고 데이터를 전송할 수 있는 비트코인의 이중 기능을 결합합니다. 메타넷은 모든 사용자 활동 및 데이터가 사용자에게 가치를 지니는 더 나은, 더 많은 상업 인터넷을 창출할 수 있습니다. 이는 대규모 확장 기능으로 인해 오직 비트코인 SV 블록체인에서만 가능합니다.
코제(Kohze)는 최근 비트코인 협회의 제2회 BSV 해커톤에서 2위를 차지했으며, 한국에서 개최되는 코인긱 서울 컨퍼런스에서 최종 결선을 앞두고 있습니다. 그의 프로젝트인 “하이브(Hive)”는 자신의 유전학적 배경에 기반한 것으로, 전 세계의 개인들이 추가한 정보를 연결하는 “벌집(beehive)”을 만들어냅니다. 정보가 있는 모든 콘텐츠 노드는 하나 이상의 연결된 노드가 필요하며, 노드에 대한 모든 링크의 경우, 동적 비용이 있습니다. 사용자는 언제 새 콘텐츠가 추가되는지, 그리고 언제 BSV 블록체인에서 직접 정보를 가져오는지에 대해 알림을 받습니다.
캠브리지 대학교 메타넷 소사이어티는 BSV를 기반으로 한 메타넷 프로젝트를 달성하기 위한 연구를 추진하며, 학생들과 선구자적 이론가들을 위해 캠브리지 대학교 캠퍼스에서 주간 회의와 프로그램을 주최하여 강연, 토론 및 튜토리얼을 진행합니다.
캠브리지 대학교 메타넷 소사이어티 대표인 로빈 코제(Robin Kohze)는 다음과 같이 이야기합니다. “캠브리지는 전통적으로 총명하고 창의적인 인재들을 과감한 아이디어로 인도하고 언제나 현재에 도전하는 장이었습니다. 재정 지원 결정을 내린 비트코인 협회에 감사드리며, 지원을 통해 이번 학년도 실제 세계의 유용성 응용 프로그램에 초점을 맞추는 새로운 세대의 비트코인 개발자들을 가르치고 지원하기 위한 22개 행사를 주최할 수 있게 되었습니다.”
후원을 받아 치러지는 첫 번째 행사는 10월 17일에 있을 예정이며, 크레이그 라이트(Craig Wright) 박사와 비트코인 협회 회장 지미 응우엔(Jimmy Nguyen)이 연사로 참여합니다.
응우엔(Nguyen)의 말: “비트코인의 진정한 힘은 결국 비트코인 SV에서 드러날 것이기에 캠브리지 대학교의 총명하고 과감한 학생들을 지원하여 메타넷 구축 방식을 배울 수 있다는 점이 실로 짜릿합니다. 그들의 작업은 데이터에 대해 사용자에게 진정으로 보상하고, 사용자 온라인 활동에서 금전적 가치를 창출하며, 더 높은 품질의 콘텐츠를 장려하는 미래의 인터넷에 기여하게 될 것이며, 이는 모두 BSV에서만 가능합니다.”
Bitcoin SV (BSV) has continued to surpass its peers and establish itself as the superior blockchain network. One of the reasons many have abandoned other blockchain projects for BSV is because it has introduced new business models. BSV’s low fees and massive scalability has enabled developers to create solutions and applications that open up new opportunities not available elsewhere. During the CoinGeek Seoul Conference, Jimmy Nguyen noted all these points, and revealed some of these new business models that BSV has introduced.
In his presentation, the Founding President of the Bitcoin Association looked at how the extremely low fees in BSV have enabled an ‘Earn and Use’ ecosystem, different from the ‘Buy and Hodl’ ecosystem present in other crypto projects. The low fees enable BSV users to make microtransactions which consequently introduces new business models that were previously not possible.
With BSV micropayments, users can reimagine the existing business models and create new ones that would attract more users. For instance, digital newspapers can change the monthly subscription model to one where the user pays per article or blog post. In online videos, users can pay per minute watched as opposed to paying for the whole video. For the gamers, they can pay for in-game features and items using BSV instead of the tokens that are currently in use. In social media, getting likes could translate to micropayments. The opportunities are endless.
There have been plenty of applications that have been developed to capitalize on the new business models introduced by BSV. For social media, Twetch has been a standout, with its platform allowing you to earn whenever other users share or like your content. This is in contrast to the current social media platforms which generate billions of dollars from your content through advertising.
For video streaming, Streamanity is introducing a new business model where content creators get paid in BSV for their content. The creators can offer just a few seconds of the video for free beyond which one must pay to watch. And since BSV supports microtransactions, you can pay by the second.
For file storage, Bitcoin Files allows its users to upload their content on the BSV blockchain for a fee. However, you can grant access to your files to other people who have to pay you in BSV.
In real estate, Zwesipace is capitalizing on BSV to not only improve title registries, but also to detect earthquakes using IoT devices. TonicPow, the runner up in the inaugural BSV Virtual Hackathon, is using BSV to introduce new business models in the advertising space, while WeatherSV allows users to create new business models by having reliable weather data recorded on the BSV blockchain.
Nguyen concluded, “So, the lesson of all this is that BSV, because of its really large blocks and its super massive scaling capacity, it enables the users to do lots of transactions for a very tiny fee and that means that its data ledger can be used for all types of business applications.”
Craig Wright fireside chat at CoinGeek Seoul reveals more of Satoshi’s chronicles
The sequel to the Fireside chat aptly titled The Satoshi Chronicles: Part II, with Bitcoin Association Founding President Jimmy Nguyen and Dr. Craig S. Wright at the CoinGeek Seoul Conference, revealed a more emotional side of the man behind Satoshi Nakamoto. The chat reiterated Dr. Wright’s original vision for Bitcoin and what ultimately led him to a lengthy hiatus from the Bitcoin community.
Nguyen wasted no time and continued a conversation that started from the CoinGeek Toronto Conference. He started by asking Dr. Wright, “Why did you choose a Japanese name?” Dr. Wright responded, “When I grew up in the 90s, Japan was the big new thing. Everyone thought that Japan was going to overtake the U.S.”
He added more reasons why he chose the pseudonym Satoshi Nakamoto. His main inspiration was the philosopher Tamasu Nakamoto, who had a lot of ideas about immutability and how to capture truth in a way that wouldn’t change. He used Satoshi because it meant “intelligent history” and when put together, Satoshi Nakamoto was a way of saying Satoshi solving Nakamoto’s problem.
Moving on, Nguyen and Dr. Wright examined early Satoshi writings that have been scrutinized over and over again—emails, posts and archives online. In a post dated January 3, 2009, Dr. Wright posted a headline titled, “Chancellor on brink of second bailout for banks,” on Bitcoin’s Genesis block. Nguyen asked Dr. Wright if he was trying to send a message about Bitcoin at the time, to which he responded, “I want business to work and file on its own. Banks shouldn’t be bailed out. They shouldn’t get special privileges when they fail.”
He also talks about the whitepaper and the most common things people misunderstand and ignore, starting with digital signatures. Dr. Wright expressed that it was important for him to define Bitcoin as a chain of digital signatures because, in common law, it is also allowed to act as a way to transfer goods and services and to bind contracts. “We have all these rules that legalize Bitcoin and act within the law,” Dr. Wright added.
Dr. Wright continued to discuss documents dated years ago about the fundamental pillars of Bitcoin, such as a stable protocol, scalability, simplified payment verification, and micropayments.
In a post dated December 5, 2010, Satoshi appealed to not allow Wikileaks to use the Bitcoin blockchain. Dr. Wright believes, Julian Assange, founder of Wikileaks, dumped information that put people at risk. “There’s disclosure and then there’s responsible disclosure,” added Dr. Wright.
Dr. Wright created Bitcoin as an “honor system.” Not for facilitating drugs, and other “evil things” such as pedophilia, arms trafficking, and illegal activities. Since the early days of Bitcoin, Dr. Wright has always wanted everyone to build applications that would positively impact people, instead, he admits, the very first commercial application that was built by someone on Bitcoin was, unfortunately, a heroin store, which eventually led to the creation of the Silk Road, an online black market.
To help combat this, Dr. Wright helped build software that tracked criminal organizations, however, he still felt his whole life’s work was being put to waste. So, Dr. Wright, the man behind Satoshi Nakamoto, went on hiatus because he was “incredibly disillusioned.”
Dr. Wright felt responsible and very remorseful for the casualties caused by the products sold on the Silk Road, to which Nguyen, comfortingly said, “I’m going to tell you, my friend, it’s not your fault.” Nguyen pivoted and asked Dr. Wright, “What do you want people, developers, and businesses to build with Bitcoin?”
“Fraud, one of the worst things that divide and suck away society, can be minimized.” Dr. Wright wants to see big banks and consultants to not tell you what you did wrong, but tell you what to do right. He asks the audience to imagine a world where fraud and crime are minimized and the positive effects that would have on society. “We’re in a world of 2% growth, imagine if suddenly 15% magically appears. What the hell would that be like? I’d like to think that would be good,” Dr. Wright added.
Dr. Wright concluded his fireside chat by emotionally thanking CoinGeek founder Calvin Ayre for “putting up” with him. “Calvin’s been a mentor. I haven’t always been the best leader or boss or anything like that and I’ll tell my staff and everyone who works with me, thank you for helping develop me,” he said.
After Dr. Wright’s fireside chat, David Case, Chief Architect of Kronoverse, thought Dr. Wright was “insightful and very honest.” He said, “It was refreshing to hear his views in a historical context.”
Hayato Kameta, Zweispace Founder and CEO, added that he gained a deeper understanding from Dr. Wright’s “explanation about what happened in 2010.”
“BUSKON is a music content distribution. Music players upload their content, while the customer, they listen or watch, [and] if they like, they just give a token to them [uploaders],” ONEStore CEO Jay Lee told CoinGeek, explaining why they chose BSV. “We made a lot of trial and errors, so finally we found that BSV can resolve all the issues we have.”
BitBoss, meanwhile, introduced a new casino product that aims to onboard crypto users in the space. In his presentation, CEO and co-founder Matt Dickson explained how they started years ago with a private chain called Multichain, which led the company in the right direction—to BSV.
Now, their new hardware product Bridge is poised to become a huge leap for slots and other electronic games found in casinos. Bridge is an end to end solution that allows players to play their favorite slot, have that machine update the back-end of the casino, and also communicate with a player via their phone, either their current credit amounts or marketing items the casino wants to put in front of them.
Using BSV, BitBoss has already created baccarat, roulette and lottery games, and is currently working on sic bo. The company also plans to offer Bitboss as a platform for other game developers to build on.
When asked how far away we are from having these games rival traditional offerings, Dickson said “we’re very close.”
So there’s a lot of online casinos now that accept [BTC] or BSV or Litecoin, whatever it may be, as a method of payment. What we’re trying to do is actually replace the entire infrastructure so that all the transactions are happening on the chain as well. And we’ve taken a lot of care to create very high value content… These games will have provably fair built in as well. So they’ll function just as well as a traditional online product, they’ll have provably fair built in, and they’ll run on the blockchain.
For Centbee, it’s all about crossing borders. The African Bitcoin payment solutions provider announced a new offering, Centbee Remit.
“It’s really good to disrupt cross-border remittance in the country,” co-founder and CEO Lorien Gamaroff told us. “In Africa, it’s infamous the high costs that it takes to move money, and you know, averaging 15%. Because of our innovative technologies, we believe that not only is this going to be a convenient and easy to use, cheap product, but it’s going to comply with all local laws and regulations.”
Also taking the center stage is WeatherSV, explaining how weather—on the blockchain—is bringing data driven industries to a whole new level. Founder Paul Chiari noted in his speech, “We see weather is important to everybody some way or another, and has a big impact on things like transport, insurance.”
On the sidelines of the event, Chiari explained to us the big idea behind WeatherSV: “It’s part of a bigger idea around agriculture industry and other industries. There’s a lot of waste and things like that. I see that data, you know, autonomous data collection from IoT devices and other ways, by getting their data and sharing it and utilizing it throughout supply chains and things like this so you can save a lot of waste, minimize a lot of waste and create a lot of efficiencies.
The fireside chat between Nguyen and nChain chief scientist Dr. Craig Wright was undoubtedly one of the biggest highlights of the two-day CoinGeek Seoul Conference. Aptly titled, “The Satoshi Chronicles: Part II,” the chat revealed a more emotional side to the man who created Bitcoin as he recounted his original vision for Bitcoin and what ultimately led him to a hiatus from the Bitcoin community.
Bitcoin, according to Dr. Wright, was created as an honor system—not for facilitating drugs and other “evil things” and illegal activities. The goal was for everyone to build applications that would positively impact people. Instead the very first commercial application that was built by someone on Bitcoin was, unfortunately, a heroin store, which eventually led to the creation of the Silk Road.
This led to Dr. Wright helping build software for tracking criminal organizations; however, he still felt his whole life’s work was being put to waste, and became “incredibly disillusioned.” Dr. Wright felt responsible and very remorseful for the casualties caused by the products sold on the Silk Road, to which Nguyen responded with, “I’m going to tell you, my friend, it’s not your fault.”
Even the attendees were riveted by the “insightful and very honest” discussion. David Case, chief architect of Kronoverse, told us on the sidelines of the event: “It was refreshing to hear his views in a historical context.”
George Siosi Samuels, managing director of Faia, noted the “good match” between Nguyen and Dr. Wright, saying, “Jimmy does a great job bringing out Craig’s relaxed side.”
For Brad Monahan of Jumpstarter, it’s all about accountability. He told us:
You can sense that he’s trying to bring the best in the world, and you know, for someone to come out and say, ‘Hey, I’m Satoshi Nakamoto. I’ve created this,’ and also, he’s also about accountability, and for him to sit up on that stage and say like, you know, ‘This was causing so much problems, and I brought that.’ He didn’t physically do it, but he built the platform for people to do it, but the fact that he came forward, it means righting the wrong, he’s building Bitcoin SV, and he’s pushing what Bitcoin’s originally supposed to be. It really shows he’s backing up and making things right.
The two-day CoinGeek Seoul conference came full circle with Nguyen closing the event by delivering the key message to the Bitcoin ecosystem: “It’s time to build.”
Over 180 members of the Bitcoin society gathered in Seoul to celebrate Satoshi vision as tech savvy South Korea held its first-ever Bitcoin SV (BSV) Meetup on Monday.
It was a night of superlatives for the Seoul Bitcoin SV Meetup. The event, sponsored by Bitcoin Association, was held at the Merry Bar in Soul and it’s packed with people—200 people signed up on the Meetup website—making it the largest BSV Meetup since the original Bitcoin was reborn as Bitcoin SV.
“We are really surprised of this because people doesn’t know about BSV a lot because of language barrier but that is why we organized BitcoinSVKorea.com to spread the Satoshi vision. That is why we held this meetup—the largest meetup ever,” said Daniel Lee, who organized the event along with his brother Joseph Lee.
CoinGeek owner Calvin Ayre said the Seoul BSV Meetup is just a taste of what’s to come for the Bitcoin society.
“First of all, I want to say that this is the largest BSV meetup since us saving the original Bitcoin. I think this is an example of what we can expect in the future with events that we have planned in other places in the world,” Ayre said. “The next conference is going to be in London in February but we have plenty of meetups all over the world and we’ll be doing conferences in the United States—New York, San Francisco next year. We want to start more things with the development community because I think that developers are the real army that understand why this platform is unique in the world with its ability to scale today. We’re not promising scaling 18 months from now, we’re promising scaling right now, today.”
Among the attendees were nChain Chief Scientist Dr. Craig Wright, nChain CTO Steve Shadders, and Founding President of the Bitcoin Association Jimmy Nguyen. Nguyen said, “It is an electric city so we are so happy to bring CoinGeek, Satoshi vision and Bitcoin SV to one of the true blockchain and crypto capitals of the world, and we love being in Asia and we’re going to make BSV a big win here and around the world.”
In a short speech, Dr. Wright promised “to keep creating things”—and make the community “work really, really hard.”
What I’m going to promise is I’m going to work hard, and I’m going to keep creating things and I’m going to keep releasing things so that you guys can build companies, you know, like you could work. And I’m going to make you work really, really hard. Because then you actually feel good about yourselves. If you speculate, and you make a little bit of money, and you lose it tomorrow, there’s no dignity there’s nothing there. When people work for things, when they create things, when they know that they actually earned because they work for a long time, and they’ve had hardships, then it’s worthwhile. That’s what proof of work is.
Check out the CoinGeek Seoul Conference happening at Le Meridien Hotel on October 1-2. Download the CoinGeek Conferences app and stay updated on the latest updates. The app not only contains a detailed schedule for the two-day conference, it also features an in-app messenger that allows users to communicate with the BSV society during the event.
Watch the CoinGeek Seoul Conference Day 2 livestream here.
The CoinGeek Seoul conference started off with plenty of energy, as Bitcoin Association Founding President Jimmy Nguyen took the stage to deliver the opening speech, “Bitcoin SV: It’s Time to Build.” Attendees were treated to a quick summary of what Bitcoin SV (BSV) is all about, and an inspiring call to action to start the day.
Nguyen began his introduction by welcoming the crowd, and outlining what everyone was there to do. “Thank you for joining us here in the electric city of Seoul, as we gather to continue building the future of money, the future of blockchain, and the future of digital technology, all made possible by Bitcoin’s original design and protocol back finally in the form of Bitcoin SV, BSV,” he began.
After running through the impressive accomplishments of humanity over the ages, Nguyen turned to the ingenious invention of Bitcoin. But the custodians of that technology failed it for so long, he told the crowd, because BTC’s network “artificially crippled, artificially limited, literally, the blocksize and data capacity of the network so that Bitcoin could not fulfil its true potential to become the world’s data ledger for all enterprises.”
But as BSV has returned the original vision of Bitcoin to the world, the crowd in Seoul have the task to build out innovations only made possible by Satoshi’s vision. “That’s what we’re going to be building on Bitcoin SV, the very best blockchain for miners, developers, enterprises, merchants and everyone.”
The barrier to this vision, as the Bitcoin Association President explained, have been tiny blocks, incapable of handling the number of transactions the world’s businesses need. “So the Satoshi Vision, and what we have in Bitcoin SV is really simple, really simple my friends: Unlimited scaling! Big blocks!”
Nguyen continued to break down the problems with BTC, keeping it from being the Bitcoin the world needs. Fees are too high, transactions become congested, and it’s incapable of being anything other than a store of value, all because of its insistence on small blocks.
He then turned to Ethereum, which hoped to be a better data system, but also can’t handle the volume the world requires.
But because of a belief in Satoshi’s vision, Nguyen is confident Bitcoin is the solution. “We believe in the original design of Bitcoin and what it’s capable of doing, and one of the best things it’s capable of doing is enabling micropayments and micro transactions.”
He then discussed Bitcoin’s path, from its November 2018 hard fork to its current block limit of 2GB. Users and businesses are responding by using that space, with large blocks becoming a “non-event,” they’ve become so routine.
The future, Nguyen explained, is an unlimited scaling capacity, with the only limits being decided by what miners are willing to take in. This will mean better rewards for miners, who will reap the transaction fees loaded in to every block. Block reward halvenings will no longer pose a significant risk to mining income. “We want a network, a monetary system of Bitcoin SV which is stable. Which has true value, based on true utility, not speculative trading, and it requires organic growth.”
Nguyen then outlined the reasons BSV is proving to be the most attractive blockchain for enterprise application. It’s ability to scale, provide transparency, consistently low fees, global distribution, regulative approach, and many other reasons, make it far superior in every way to the alternatives.
He also touched on the MetaNet, which promises to make BSV the new data carrier network of the world. As Nguyen explained, Bitcoin is made up of two root words: Bit, for data, and coin, for money. “So Bitcoin is simply data with monetary value.”
Before wrapping up, Nguyen then talked about all of the amazing development already happening on the BSV blockchain. Hundreds of companies are building with BSV, many of which were in attendance and ready to speak at CoinGeek Seoul.
Many of those companies are helping to embody the “earn and use” mantra of BSV. Rather than become a store of value, BSV is exemplifying the spirit of Satoshi’s whitepaper by fostering real utility for digital currency.
Nguyen wrapped up with a motivational call to action as CoinGeek Seoul really kicked off:
It’s part of our human condition, and our human experience to always want to build something bigger, better, that improves us. That changes the nature of who we are and what we can do. Humans have always had that need to create and build.
We build monuments to the sky. We build walls to protect. We build places to gather. We build gifts to friends. We build statues of liberty. We build metropolises. We build bridges and highways to transport us. We build towers of business. We build escalating marketplaces. We build architecture that inspires, and then we build technology.
We build new ways to compute. We build a medium to broadcast. We build new methods to communicate and transmit information. We build a truly global online network. We build new value to data. We build new ways to handle money, new ways to pay, new ways to shop, a whole new world of ecommerce. We build new systems to interact with the environment around us. And we build a dazzling array of digital services that connect the entire globe.
And then one day, someone ingenious builds something truly amazing. A new peer to peer electronic cash system: Bitcoin, blockchain, a technology platform to build everything. And Bitcoin’s original design, Satoshi Vision, is back here on fire with Bitcoin SV. It’s time to build. What will you build?”
If you’re not at CoinGeek Seoul but want to watch the action, don’t forget that CoinGeek is offering a livestream of the event so you don’t miss any of the speakers or big announcements.
As CoinGeek Seoul is set to begin this week, the Bitcoin Association are starting off the week with something they’ve never done before. The group have gathered Bitcoin SV (BSV) companies and interested investors to have the first ever Pitch Day. To talk about how it all came together, Bitcoin Association Founding President Jimmy Nguyen joined CoinGeek’s Stephanie Tower on the sidelines of the event.
The reasons why the Bitcoin Association put this together are pretty easy to understand. “We created this as a service for Bitcoin Association to be able to connect the great number of BSV ventures, startups that are happening on this, great people building on Bitcoin SV with the investor community,” Nguyen explained. “As a startup entrepreneur, you need investment to support yourselves, and there’s such excitement happening now in BSV development so essentially putting them together.”
Every idea has to come from a bit of inspiration though, and this one was no different. The last CoinGeek conference had a lot to do with this one having a Pitch Day. “In the CoinGeek Toronto conference, I got so many requests to take meetings for venture pitches,” Nguyen recounted. “I said, let’s create an event where we ask the entrepreneurs to submit investment materials which I and a few other people including the team from Two Hop Ventures screened. We selected top ones, and we’ve got about 15 here that have come to Seoul to pitch their projects in front of a room full of investors.”
And as Nguyen told Tower, the event has a dual purpose. “I was able to help gather investors from across Asia and other places to come here, so it’s got the benefit of giving entrepreneurs an opportunity to access room full of investors and also getting more investors knowledgeable and interested in the BSV ecosystem.”
And while they’ve been learning a lot, the Investors have also had some interesting pitches to entertain. “It’s a bit like Shark Tank but it’s not a competition,” Nguyen noted. “I think all of the investors so far that I’ve talked to have been really impressed by how heartfelt the startup entrepreneurs are in their feeling about BSV. They’ve also come in and said we choose to build on BSV. We choose BSV, I’d like to say, and they’ve explained why they chose BSV, why they want to help Bitcoin SV, so I think that’s been heartening to see.”
As Jimmy Nguyen has often preached, the Bitcoin industry has to grow up and professionalize. This event is a step towards doing that. “I think the process has also forced and challenged these young entrepreneurs to actually outline a business plan—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.”
Another element that Pitch Day helps emphasize is the welcoming nature of the Bitcoin community, and Nguyen hammered that home. “We’ve seen a range of people today already who are experienced business owners, someone who’s had four businesses successful in China before to a young developer who’s never started a business before but has been great at creating great tools and applications on BSV, so it tells you the range of people interested in saying we choose SV.”
If you couldn’t make it to Seoul for this first pitch day, Nguyen noted that there will be future opportunities. “We plan to do this again before CoinGeek’s next big conference which should be in London in February 2020, so entrepreneurs, startup team members think about what your project might be,” he announced. “We’ll be making an announcement in the weeks to come about how you can submit your investment decks and materials to be considered for the second pitch day before CoinGeek London – February 2020.”
The creator of Bitcoin Dr. Craig S. Wright and the Founding President of the Bitcoin Association are among the speakers in the upcoming CHAINSIGHTS Fintech and Blockchain Summit. The event, which will be held on October 10 in New York will bring together leading minds in the blockchain, tech, legal, academic and finance industries to discuss the future of blockchain technology.
The annual event will be held at the Marriott Marquis hotel in New York. Other than Dr. Wright and Jimmy, the event will feature presentations and panel discussions from industry leaders including former SEC Commissioner Roel Campos, the CEO of OpenFinance Juan M. Hernandez, the Deputy Executive Secretary of United Nation Capital Development Fund Xavier Michon, and David Namdar, a partner at Galaxy Digital Assets and more.
The topics to be covered include the crypto mining industry and the best way to invest, a crucial topic especially with Bitcoin block rewards set to halve in 2020. The speakers will also address blockchain development and investment in China. The Asian economic giant has blown hot and cold regarding the blockchain and crypto industry, and with some of the panelists having extensive experience in the Chinese blockchain industry, this will be a session you don’t want to miss.
The closing keynote address will be delivered by Roel Campos and it will center on the state of blockchain and cryptocurrency regulation. Campos, who served as an SEC Commissioner for five years, will shed light on what the SEC and other regulators have in store for the crypto industry.
The event is organized by ChainDD, a crypto and blockchain news site targeting the Chinese market with more than 2 million registered users. Apart from the distinguished list of speakers, CHAINSIGHTS will also bring together some of the leading companies in the tech and financial services industry including Google, IBM and Morgan Stanley.
ChainDD promises that the event will be “highly interactive, providing valuable opportunities for networking, idea sharing and potential partnerships with some of the most influential players in the field.”