Fundstrat Global Advisors, the market research firm co-founded by leading Wall Street strategist Thomas Lee, has released their latest Insight report which looks at Bitcoin SV. Following two prior reports, this latest analysis focuses on the Bitcoin SV ecosystem’s ‘laser focus’ on building enterprise-tier data processing and business use cases. It presents profiles for 11 companies in the space and recognises Bitcoin SV’s ‘unique vision’ to create a better internet where data and value interact seamlessly with Bitcoin micropayments.
Fundstrat made the full report, titled BSV – Business Use Cases of the Bitcoin SV Blockchain available to its clients two weeks ago, and released the full report to the public today.
The report notes that Bitcoin SV has a growing ecosystem of over 320 known companies and services. Highlighting eleven companies, each using the blockchain in different ways, the report reflects on how Bitcoin SV’s bigger vision for Bitcoin can benefit enterprises in ways investors might not have previously considered. It also profiled nChain and TAAL Distributed Information Technologies Inc to illustrate the level of development and infrastructure support backing the Bitcoin SV ecosystem.
The report’s first-page summary highlighted Bitcoin SV as ‘enabling the next evolution of internet businesses’ by facilitating new business models, solving payment frictions, and re-engineering trust models. However, it was Bitcoin SV’s ‘unique vision and differentiated blockchain technology approach’ and vision for the Metanet that stood out as key points of differentiation. A new, more commercial Internet for users, the Metanet provides for monetization of all user online activity, realistic micropayments, and also secure storage for personal and business data. This unlocks novel applications and enables Internet business model innovations, it said.
Fundstrat added that Bitcoin SV’s scaling goals aren’t empty promises, backed by real-world network statistics. The numbers showed that the Bitcoin SV network has been able to maintain transaction processing fees as low as 1/100 of a cent, while stress tests had proven its ability to process huge blocks (by today’s blockchain standards) containing as many 1.3 million individual transactions without any problems.
The report’s ‘bottom line’ noted that Bitcoin SV ‘has moved from the idea phase to the implementation phase’ and that novel applications were already being deployed across its network. It lauded the technical decisions made by the Bitcoin SV node team to provide a blockchain platform that scales, the success of which would now be determined based on enterprise uptake and the emergence of further use cases.
In addition to nChain and TAAL, Fundstrat profiled nine businesses building applications on the Bitcoin SV blockchain, all of which are exploring different benefits to each other. They are: EHR Data (healthcare); UNISOT (supply chain management); MetaStreme (big data, IoT); BitBoss (gaming/gambling); Kronoverse (online games, eSports); Maxthon (browsers); TonicPow (marketing); Codugh (development); and The Bayesian Group (fintech/investments).
Each of these companies are based on business models which highlight different unique aspects of Bitcoin SV. Some capitalise on fast payments or the ability to store data on the blockchain, while others have leverage new micropayment capabilities.
In profiling nChain and TAAL, the report reflects the professional level of support that underpins the Bitcoin SV ecosystem, focusing on research and development being pioneered by nChain’s case, as well as the infrastructural capabilities of TAAL. Rather than being built and supported by loosely organized and unpredictable developers, both companies are transparent in their goals and have highly-skilled teams with demonstrable experience in their fields.
The idea that Bitcoin’s protocol—in the form of Bitcoin SV—can be data infrastructure for the entire world may still be new to most people, but this grand vision also presents a vast set of new opportunities rarely seen in technology. Developers, enterprises, and investors alike have a chance to come onboard at these early stages with greater potential to reap rewards later on, as the Bitcoin SV network and business use cases grow much bigger.
Fundstart Managing Partner Thomas Lee will present at the upcoming CoinGeek New York Conference, a hybrid live + virtual event on September 30 – October 2, broadcast from New York and London. Register now at coingeekconference.com