BSV Update and Notes from the Founding President – December 2020
Greetings to everyone in the Bitcoin SV Community!
The Bitcoin SV ecosystem is spread far and wide, with pockets of businesses and innovators in many, many countries around the world. As such, a large part of our focus at Bitcoin Association has been to identify and nurture these communities, connecting them with one another and putting them in the position to deliver world-changing innovations using the Bitcoin SV network. From Cambridge to Dubai to Buenos Aires, and everywhere in between, Bitcoin SV developers, entrepreneurs and believers have access to a rapidly-growing trove of intellectual capital and support.
This is always a priority for us, but it was truly brought to the fore during a tough 2020 – with many of our planned approaches and activities curtailed. But despite all of the challenges, it remains abundantly evident that exciting Bitcoin SV development is happening all around the world.
In late October and November, we saw a return to in-person events for Bitcoin Association, as we took the Bitcoin SV story on the road to Dubai in the United Arab Emirates. Not only did we host planning meetings among Bitcoin Association staff to scope out what the next year holds for both our organisation and the wider Bitcoin SV community, but we also got the chance to share the exciting Bitcoin SV story at one of the famed global investments summits organised by the Ritossa Family Office. At the investment summit, we presented Bitcoin SV to a new audience of investors and businesses in one of the most technologically progressive cities in the world. Dubai has an incredible vision for itself over the next decade, and we were thrilled to show how Bitcoin SV can play a role in realising that vision.
Our first trip to Dubai was so successful, we just did it again in early December – leading a delegation of Bitcoin SV companies to the Ritossa Family Office’s closing investment summit of the year. (More on that in our next update).
Whenever we get the opportunity to introduce the power of Bitcoin SV to an audience with the willingness to recognise and invest in propositions that will make the world a better place, we get excited. As it is in China, as it is in Switzerland, so too is it in the UAE: there are incredible innovators and entrepreneurs with big ideas, just waiting for the right vehicle to make them a reality.
I’d like to extend my thanks to all those who came out and played a part in the Bitcoin SV UAE roadshow, as well as a very special thank you to Sir Anthony Ritossa and his team at the Ritossa Family Office (especially CEO Vanessa Eriksson and Simon Miley) for inviting us to play a role in their prestigious events. We hope – and expect – that those who attended got as much out of it as we did. We are excited to build on this visit and continue this roadshow across the world in 2021.
As 2020 draws to a close and many of us begin to wind down, as I sign off one final time for the year, on behalf of all the Bitcoin Association team, I would like to wish you, your friends and families, a happy holiday season.
And, as always, stay safe and believe in Satoshi Vision.
BSV in the UAE
Bitcoin Association recently completed a two-week excursion to the United Arab Emirates to engage the regional blockchain and investment communities, as well as demonstrate how Bitcoin SV can help the UAE and modern cities like Dubai reach their ambitious development goals.
The focal part of this was the 12th edition of Sir Anthony Ritossa’s Global Family Office Investment Summit. The exclusive Summit brings together ultra-high-net-worth investors and the managers representing their wealth, as well as business executives and government representatives, to discuss tomorrow’s investment opportunities for the betterment of society at large. Naturally, we seized the opportunity to speak about Bitcoin and how the Bitcoin SV blockchain is the only protocol that has the throughput and scalability required to facilitate data transformation in every industry – from healthcare to smart city planning. Several leaders of Bitcoin SV companies also appeared on panels at the summit and engaged in business meetings.
It was an incredible chance to get the Bitcoin SV value proposition in front of the people whose investments and business projects are likely to define tomorrow’s world. Audiences at Ritossa summits can represent collective wealth of a staggering $4.5 trillion USD; but for many, this would have been the first time Bitcoin’s true value – beyond investment speculation – has been demonstrated by explaining its real data utility with real use cases.
International media was also represented at the Summit, giving the Bitcoin SV players in attendance the opportunity to spread the message much further than the confines of the Summit, including the likes of CNBC Arabia and CEO Magazine.
And with many of the Bitcoin Association team in one place at the same time, we took the chance to host a multi-day planning summit, where we talked about the future of Bitcoin Association and Bitcoin SV. We look forward to implementing plans outlined at this summit, and expect 2021 to be a big year for Bitcoin SV.
Ecosystem Building in Cambridge
The Bitcoin SV ecosystem is spread far and wide, and Bitcoin Association is committed to supporting communities with an interest in building world-changing applications with the original Bitcoin protocol. Cambridge in the UK is a great example of that commitment. Cambridge has become a Bitcoin SV epicentre, built around the prestigious university and its student population, who have taken an active role in exploring Bitcoin and the opportunities it provides.
Bitcoin Association is a proud sponsor of the Cambridge University Metanet Society, which was established by Robin Kohze to support students in learning about and developing applications using the Bitcoin SV protocol, blockchain and digital currency. The Association provides both financial and logistical support to the Metanet Society to advance its mission to develop more aspiring professionals to work in the Bitcoin SV ecosystem.
I had the chance to appear as a guest-host at the Society’s latest virtual meetup and was delighted to interface with an audience of highly engaged students who are already producing tangible results.
Those results speak for themselves and I was also able to announce that Bitcoin Association would continue its partnership with the Society for a second year – and long may it continue.
2 Years of Independence for Bitcoin SV!
This year was the second anniversary of Bitcoin Independence Day (November 15), marking two years since Bitcoin was finally freed and allowed to return to the original vision of its creator, Satoshi Nakamoto. To commemorate the occasion, Bitcoin Association produced the second Bitcoin SV Independence Day report, providing an exciting state-of-the-union overview of the Bitcoin SV network.
The report included milestones of the past year – such as the new world-record block being processed at 369MB and containing over 1.3 million individual transactions. Not only was it a chance to celebrate those technical achievements, but also to highlight the exciting new use cases which have emerged and continue to do so – at the time of the report’s release, Bitcoin SV had amassed over 420 projects being built on the protocol, a phenomenal achievement in just two official years of Bitcoin SV.
Read the full report here.
Bitcoin SV Technical Standards Committee open for business
This year, we also reached a major milestone in the professionalisation of Bitcoin, with the establishment of the Bitcoin SV Technical Standards Committee. The Committee was created to professionalise the development of Bitcoin technology, reinforcing Bitcoin SV’s status as a protocol with global adoption and enterprise use as its key objectives. The Committee’s eleven members represent eight different countries and diverse sectors of the Bitcoin SV ecosystem.
The first proposed standard – a data format for Merkle inclusion proofs – was opened for public review in November, following a rigorous and robust drafting and review process. The standard will remain in this phase for two months before a dedicated workgroup will review the public submissions and decide whether to return to the drawing board or proceed with the publication of the standard.
Also in November, the Committee launched its dedicated website.
Read about the Bitcoin SV Technical Standards Committee, including its proposals, here.
Blackjack on chain
BitBoss, the U.S. gaming technology company that builds on Bitcoin SV, achieved a major milestone in their quest to bring the casino experience on-chain by releasing the first blackjack game to run entirely on-chain.
It’s an exciting development. Up until now, the most complex offering on-chain was slots and similarly simple casino games. But blackjack is a game with cascading rules and outcomes, meaning to store every player and dealer action and outcome on the blockchain is a bigger ask than simply determining the outcome of, for example, the pull of a slot machine lever and then registering that on-chain.
It is an important step on the road to bringing the world of online gaming to the blockchain. There are few industries which stand to be clearer beneficiaries of the scalability, transparency and immutability that the Bitcoin SV blockchain affords.
ShowPay raise $1.5M in angel investment
One of the best Blockchain success stories to come out of China in 2020 has been dedicated payment system ShowPay, which raised USD $1.5 million in its latest fundraising round – one of the largest investments in a Chinese Bitcoin SV company to date.
The funding is earmarked for research and development into the Bitcoin SV-based distributed ID system MetaID, the establishment of a non-profit fund to promote MetaID adoption, as well as expanding the ShowPay team generally.
Companies like the Guangzhou-based ShowPay are a reflection of the powerful Bitcoin SV community in China, who are already contributing vital infrastructural innovations to the wider ecosystem. Fast and efficient payments are a hallmark of the Bitcoin SV network, so to see ShowPay enjoy such success and being supported on their growth trajectory is a great sign for the future of the community.
DotWallet for Developers 2.0
November saw the launch of DotWallet for Developers 2.0, a full year after the launch of version 1.0. DotWallet for Developers started life as a single wallet app, but this latest release marks a massive upgrade for the platform, turning it into a complete digital asset management infrastructure provider, serving both infrastructural needs and consumer products. Included in the overhaul is a variety of APIs, including an automatic payments API which supports multiple digital assets and support for users to create their own tokens or coupons on the platform, vastly increasing the ceiling for what DotWallet is capable of.
DotWallet is now a supporting pillar for many other Bitcoin SV development projects including Twetch, sCrypt and SatoPlay, and with this next step looks to further cement itself as an infrastructural cornerstone for the Bitcoin SV community.
Check out DotWallet for Developers.
Celebrating our Bitcoin Association Ambassadors to Germany and Australia
We also continue to highlight the stories and great work that our Bitcoin Association Ambassadors are doing around the world. Our ambassadors are vital to the future of Bitcoin, and their work and passion are responsible for the vastly distributed and highly engaged Bitcoin SV community that continues to grow before our eyes.
We recently highlighted the work being done by Australia’s Eli Afram and Germany’s Stefan Landrock, both ambassadors for their countries.
Afram is CTO of a group of companies collectively labelled Layer2 Technologies, all of which develop businesses and ideas for the Bitcoin SV ecosystem. Tokenisation is a particular focus. Afram is a long-time Bitcoin supporter and commentator.
Landrock comes from a different background – one of art, media and design. He is the creator of Salon.io, a website creation tool geared specifically toward artists wanting to showcase their creations. He is also the driving force behind B2029, a collective based out of an industrial space offered by Landrock and focused on growing the German Bitcoin SV community through education and networking.