Blockchain technology is entering its “teenage years” shortly. Like a child at the same age, the capabilities, talents, and potential for blockchain are just starting to come into their own. That said, with blockchain being an emergent and disruptive technology, it should come as no surprise that misconceptions abound regarding the nature and future impact of this technology.
What we are seeing now, however, is the beginning of a wide range of uses-cases and implementations of blockchain well beyond cryptocurrency that lay the groundwork for true enterprise adoption of this technology. One blockchain technology, in particular, is finding significant traction with a myriad of businesses because of several inherent technological and security strengths: Bitcoin Satoshi Vision (or BSV). There are many new ventures that are building their entire businesses on the BSV blockchain – Transmira, Kronoverse, and Twetch – are examples. The evolution and velocity of these enterprises are truly phenomenal, and they are paving the way for others in the egaming, esports, and social media industries, where there is a need for monetization and payment integration.
An example of a different kind of business using BSV stands out, however.
Last June at CoinGeek Zurich, a young woman from Lesotho who worked for the government to create a database of its constituents’ vaccination cards, gave a very impressive speech. She was tasked with managing and maintaining this entire database with a very small budget. Moreover, given the importance of this data, the records needed to be tamper-proof and completely secure, such that those entities relying on this information could do so with complete trust. The young woman described being fed up and feeling that it was a hopeless task given the small budget but the large security requirements. But then she learned that all of this could be accomplished securely and efficiently using the BSV blockchain.
What stood out about her presentation was the contrast between her story and many of the individuals who graced the stage that week because of their expertise in blockchain. She was not up there because of her knowledge about blockchain but because of the urgent need which the Bitcoin SV blockchain alone solved for her.
This is what will make or break Bitcoin SV. When you have multiple products which do close to the same thing, then you can rely on packaging to differentiate yourself. Compared to Bitcoin SV, no other network can come even close to providing the stability, scalability, transaction speeds, and ultra-low fees that businesses and their end-users value.
Those of us who are old enough can think back to a time when only around one in five businesses had a web presence. To have a website wasn’t considered a day-one non-starter. Perhaps if you were a technology company you might have one, but it wasn’t thought to be a pre-requisite for every small business.
But that all changed very quickly. And in time, we’ll see that all businesses and civic projects, will come to have a presence on one global blockchain, and the odds are stacked on this being the Bitcoin SV network because of the cost-savings it represents for both securing valuable data and enabling fast and easy transfers of value, whether that’s fractions of a cent or hundreds of millions of dollars.
As this technology starts to mature into its young adult years, it’ll step into the professional world where it will either fail or succeed entirely on its own merits. And like all things in business, it won’t be the speculative value that drives its adoption but the ability to enable the economy at large to deliver greater value from the supply-chain in a way that leaves their customers feeling more connected to the world and safe in the knowledge that their data is secure.
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