BSV Update: May 2020

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By Alex Speirs Published: May 5, 2020
BSV Update

Notes from the Founding President: Jimmy Nguyen

Hello to everyone in the Bitcoin Association community!

As I write to you today, looking back on April and onwards into May, for myself – as well as I’m sure for many of you – it’s a time to reflect on what is fast becoming our ‘new normal’ of self-isolation life during the COVID-19 pandemic. While normal live may have changed, it has been incredible to see the different ways that the Bitcoin community has come together in order to make the best of the situation – using this time in isolation to accomplish more work and to more quickly build Bitcoin SV.

The new normal will also look very different for Bitcoin Association – as we have now become a non-profit association based in Switzerland. The shift is a significant one for the Association, as we take our efforts up another level in order to achieve the bold future we envision for Bitcoin. For all of our members or the prior organization, please take a look at the Swiss association membership section on the Bitcoin Association website at your earliest convenience to find out what this change means for you and your membership.

April proved to be a big month for Bitcoin SV – with a number of announcements coming from Bitcoin Association and across the broader ecosystem. In this month’s BSV Update, we take a look at:

– Bitcoin Association becoming a non-profit association (in Switzerland)

– The launch of BSV Academy

– The publication of Bitcoin Association’s first annual report

– The first of our Bitcoin Association Ambassador Profiles featuring Jan Smit

– A major IP licensing deal between TAAL and nChain

– Exciting developments from Money Button, as they turn invisible!

Even in the extraordinary times caused by the COVID-19 pandemic, the Bitcoin SV ecosystem continues educate, develop and innovate.

As we all work together in these trying times, from all of us here at Bitcoin Association, I want to send our best wishes for you, your families and communities.

Take care and be safe.


Jimmy Nguyen

Founding President
Bitcoin Association


Bitcoin Association becomes Switzerland Non-Profit Association

Last week, Bitcoin Association made the exciting announcement that it had transitioned to a non-profit association (Verein) based in Switzerland. The move is an important one for both Bitcoin and the Association, with a shift to Switzerland – one of the preeminent hubs for financial innovation globally – signalling that the time is now to raise the bar across the industry, in order to help Bitcoin reach its enormous potential.

‘As I have said before, it is time for Bitcoin to grow up. That means that the industry, especially its technology development, business infrastructure, and regulatory oversight, need to mature. This also means that our own organization needs to take steps forward in its maturity,’ explained Bitcoin Association Founding President, Jimmy Nguyen.

‘Switzerland is a renowned global capital for finance, technology and digital currency. It is an ideal base for our global association, as we lead the maturation of the entire Bitcoin industry and significantly increase our international activities to advance Bitcoin SV.’


Under the new structure, there are important changes for our existing members – including the requirement to re-register in order to retain membership. It is important that all members read the announcement and FAQ in full on the Bitcoin Association website.

We look forward to our members joining us on the next stage of our journey under the new Swiss entity, as we work to advance business with Bitcoin SV. For more information visit


Bitcoin Association launches BSV Academy

In April, Bitcoin Association in partnership with nChain launched BSV Academy, a series of webinars to teach Bitcoin SV application development skills and network theory. Covering a wide-range of topics, the webinars are taught by best-in-class industry experts, with five currently scheduled for May:

– May 5 – BSV Application Layer

– May 7 – Bitcoin SV Merchant API

– May 12 – Provably-fair gaming using the Bitcoin SV blockchain

– May 19 – Threshold signatures (TS) on the Bitcoin SV blockchain

– May 21 – Developing a TS Scheme on the Bitcoin SV blockchain

Attendance is free, but to retain the interactiveness of the format, capacity is limited to 30 participants – so register your interest now at


Bitcoin Association publishes its first Annual Report

Bitcoin Association was proud to publish its first Annual Report in April, charting all of the activities undertaken by the Association in Year 1, as well as the progress made by the Bitcoin SV network. The report is broken up into twelve sections, including an outlook for 2020 – which is particularly pertinent with the news of the Association’s transition to a Swiss entity – offering a comprehensive view of the Association’s achievements to date and goals for the future.

We would encourage everyone in the Bitcoin community to read the report at the Bitcoin Association website.


Bitcoin Association Ambassador Profiles

Ambassadors represent an important component of Bitcoin Association’s overarching strategy to educate business about the benefits of the blockchain – and in particular – Bitcoin SV. In a new series on the Bitcoin Association website, we’ll be profiling our Ambassadors, giving an insight into their background, their connection to Bitcoin, and how they ended up where they are now.

First in the series is Jan Smit, Bitcoin Association Ambassador for the Netherlands and co-founder of Bitcoin SV venture capital fund, Two Hop Ventures. He discusses the outlook for blockchain businesses in the BSV space, explains the current state of play for Bitcoin in the Netherlands and shares his investment philosophy for Two Hop Ventures during a period he characterizes as ‘super exciting’.

‘This is a super exciting time. There are great opportunities! I am one hundred percent certain that most of these companies will grow to have valuations which are far beyond what they have today,’ he said.

‘To be able to buy at this level is really an opportunity in history, I would say.’

The full profile can be viewed at the Bitcoin Association website.


A major IP licensing deal between TAAL and nChain

On April 20, the publicly listed transaction processor TAAL announced that they had agreed to a 10-year intellectual property licensing deal with nChain, the enterprise blockchain firm responsible for the development of the Bitcoin SV Node software.

The agreement will see TAAL granted non-exclusive access to develop advanced blockchain transactional systems on top of nChain’s existing IP – a move which will see further collaboration between two of the preeminent players in the Bitcoin SV ecosystem.

‘Originally, TAAL was interested in licensing a few key pieces of nChain IP. However, as the team at TAAL spent more time with the nChain research department, the licensing scope continued to grow,’ explained David Washburn, CEO at nChain.

‘In the end, we penned a deal that is not only mutually beneficially for TAAL and nChain but will also help progress the entire industry: a broad and flexible license to a whole suite of tools and techniques that TAAL can leverage to deliver the scalable blockchain solutions that enterprises around the world are demanding today.’

Read more about the agreement on the Bitcoin Association website.


Money Button turns invisible!

Bitcoin SV payment service Money Button made an exciting announcement in April, with the release of Invisible Money button, a platform for embedding automatic payments into websites and applications – removing the need to manually swipe each time a payment is made.

‘The swipe-based interface has been carefully designed to have the best user-experience for most use-cases, but it could never be the best user-experience for every use-case,’ explained Money Button CEO Ryan X. Charles.

‘We are happy to announce the immediate availability of Invisible Money Button, a new API for businesses to request permission to swipe on behalf of the user. The button itself never appears on the screen. This makes advanced applications much more user-friendly, such as micropayments in social media, messaging apps, and uploading data to the blockchain.’