Bitcoin Association publishes first Annual Report highlighting rapid growth of Bitcoin SV ecosystem

Bitcoin-Association-Annual-Report-2019

April 22, 2020 – Today, Bitcoin Association – the global industry organization that works to advance Bitcoin SV – publishes its first annual report, covering its operations from February 2019-20. The report highlights the rapid growth and development of the Bitcoin SV ecosystem, as well as the work the Association has undertaken in its first year of operations to support the network’s underlying technical infrastructure and business expansion.

Featuring a comprehensive description of the Association’s mission to accelerate the business use of Bitcoin SV’s digital currency and blockchain, the report illustrates the multi-faceted approach that the organization has undertaken under the leadership of Founding President, Jimmy Nguyen.

Speaking on the release, Mr. Nguyen commented: “Looking through the Annual Report, it really brings home just how much Bitcoin Association has accomplished in its first year. In such a short time, the Bitcoin SV network has experienced serious development and transaction volume increase – demonstrating why it is the only blockchain with the capabilities required for enterprise use. We have been thrilled to see the Bitcoin SV community grow rapidly alongside us, with start-up entrepreneurs and now major enterprises alike demonstrating new use cases for BSV technology at an incredible rate. It’s been a fantastic first year for the Association, but we’re just getting started.  We have an even bigger year planned for 2020 to bring Satoshi Vision to the world.”

Split into 12 sections, the report looks at:

  1. Members

Covers key statistics around membership of the Association, headlined by 1200 registrations in its first year.

  1. Bitcoin SV Network Progress

Having undergone two major protocol upgrades during the year, this section looks at how the Bitcoin SV network has progressed with scaling and transaction activity.

  1. Global Ambassadors

Looks at the Association’s Ambassador program, which works with leading international figures across the Bitcoin SV community to develop localised initiatives to advance BSV. Bitcoin Association has appointed Ambassadors covering 18 countries and territories.

  1. Events

A comprehensive events programme was a key component of the Association’s activities – spanning grass-roots initiatives within local communities to partnering on major third-party events across the globe.

  1. Ecosystem

Growing Bitcoin SV’s developer and application ecosystems are core areas of focus for the Association. With over 400 known ventures and projects on the BSV blockchain, this section looks at the activities undertaken by the Association in support of existing applications, as well as growth of business infrastructure.

  1. Developer Initiatives

During its first year, the Association invested quietly but heavily in developer initiatives.   It is creating a range of new educational resources for developers interested in building on Bitcoin SV. Key amongst these initiatives was the creation of a new Bitcoin Wiki (focused on Bitcoin SV), available now at wiki.bitcoinsv.io, in addition to the upcoming roll-out of a BSV developer educational curriculum.

  1. Technical Standards

The Association announced its intent to create an industry Technical Standards Committee, in an effort to enhance interoperability to benefit the entire Bitcoin SV ecosystem. An initial meeting was held in London, with more information on the committee to be announced in 2020.

  1. Academia

Working with academia has been a core area of the Association’s outreach in its first year, with a number of initiatives, including Dr. Craig Wright and Founding President Jimmy Nguyen speaking at Cambridge University and the Oxford Union, as well as the Association awarding the inaugural Satoshi Nakamoto scholarship to Robin Kohze – a PhD student in human genomics at Cambridge University.

  1. Public Policy

Bitcoin Association made its first forays into public policy work, assisting government agencies and lawmakers alike on how best to build a more lawful and regulation-friendly business ecosystem.

  1. Media

Bitcoin Association has a very active media and communications strategy which it implemented effectively in Year 1.  The Association’s leaders and representatives received a strong volume of earned media opportunities that arose throughout the year. Highlights for 2019 include appearances on Nasdaq Trade Talks and the Cheddar television network.

  1. Team

The team at Bitcoin Association has grown in lockstep with the wider Bitcoin SV community in order to provide the necessary support and resources required by a rapidly growing ecosystem. This section looks at key hires made during Year 1.

  1. Outlook for 2020

As the Association works towards building on a successful first year, the report concludes with highlights and goals for 2020.


The report is available to download from Bitcoin Association’s website.