Bitcoin Association Annual Report 2019 – Extracts: Building Businesses

In April, Bitcoin Association published its first annual report, charting the activities of the organization and the progress made by the Bitcoin SV network during the Association’s first year of operations. In these series of extracts, we take an in-depth look at elements of the report, this time detailing the initiatives undertaken by the Association to advance business on the blockchain with Bitcoin SV.    

Central to the overarching goals of Bitcoin Association is a commitment to building businesses with Bitcoin SV, be they exchanges and transaction processors, or start-ups and enterprises.  At the time of writing, the Annual Report noted that there were now more than 400 known ventures and projects being built on the BSV blockchain, many of which are already showing promise or developing into viable businesses. Equally, established enterprises are continuing to explore the possibilities of bringing their business to the blockchain.

Bitcoin Association made available a substantial amount of resources for initiatives targeting developers in Year 1, but equally, unveiled a number of endeavors targeted at the next stages of the development cycle – namely, transitioning ideas into businesses.

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BSV Venture Pitch Day is an essential element of the Association’s commitment to building businesses with Bitcoin SV, taking early-stage companies – including some that originated as ideas from the BSV Hackathons – and giving them the opportunity to present to a room full of experienced, well-capitalized investors. Bitcoin Association hosted two Pitch Days in Year 1, the first preceding CoinGeek Seoul and the second preceding CoinGeek London.

To allow for those pitching to have a reasonable amount of time to discuss their business proposal, places are limited to 10 – and with 50 applying to pitch at the London edition, competition was foerce. At each Pitch Day, the three most promising projects were selected to present their ideas on the mainstage of the associated CoinGeek conference, giving the fledgling businesses the opportunity to bring publicity – and perhaps investment – to their project.    

During Year 1, Bitcoin Association rolled out an extensive program of events, including its Bitcoin for Business track – a series of mini-conferences and networking events specifically tailored to a business audience. The first of these occurred in October, 2019 with Bitcoin for Business: Tokyo, an evening event organized by Jerry Chan, featuring Dr. Craig Wright as the keynote speaker – rousing the crowd with a history of Bitcoin’s creation before ruminating the benefits for business on Bitcoin SV.

Bitcoin Association hopes to continue its events programme later in 2020 – including the Bitcoin for Business events –  but at present, our events remain indefinitely paused due to the COVID-19 global pandemic. The Association will provide updates on the events section of its website regarding the resumption of its in-person events programme, in addition to hosting a series of digital events throughout the year.

     

In furtherance of Bitcoin Association’s goals of educating enterprises about the utility of Bitcoin SV, as well as supporting business building on it, in 2020 the Association will continue to grow the use case section of its website to illustrate the inherent potential of the BSV blockchain. The section will host comprehensive case study examples of how innovative companies are utilizing the BSV blockchain for the betterment of their businesses – essential reading both for those already working with BSV and those considering it.

To find out more about the work Bitcoin Association undertook in support of building businesses in Year 1, as well as its goals and commitments in this space for the upcoming year, read the full Annual Report below.