The second Bitcoin SV Virtual Meetup of 2021 was held on March 4, with the spotlight turned on the Americas region.
Founding President Jimmy Nguyen opened the event with an ecosystem update for those in attendance, with some exciting developments taking place as recently as that same week:
- The launch of DotWallet’s DotWallet for Developers platform and integrating with gaming platform BitBoss
- The launch of ShuaCoin and the token economy on Bitcoin SV
- Twetch launched their virtual ‘hat’ among growing interest in non-fungible tokens (NFTs)
- Unbounded Enterprise launched BSV2048.com
- The emergence of the Gorilla DAO – the first DAO on Bitcoin SV
- UNISOT launched its Abendum triple-entry accounting project
However, as always, these meetups are about giving the community a chance to hear from their innovative and experienced Bitcoin SV colleagues about the new thoughts, ideas and projects emerging in the space.
The exchange perspective: Beaxy
The first guest was Bay Abbott, director and co-president of U.S.-based Beaxy Exchange. Beaxy is a U.S.-compliant exchange that introduced Bitcoin SV last year. They offer low fees and a range of fiat pairs and tools to trade.
One of Beaxy’s features is the introduction of ‘signals’, or pre-printed technical analysis: targets, time frames, price predictions – to help traders make informed decisions about the price movement of a digital asset. They also pride themselves on offering a range of fiat pairs:
‘I think an exchange should be judged on your ability to move money and access the crypto market,’ said Abbott. ‘I think that elevates us in the conversation.’
Abbott also addressed the general question of exchanges choosing which products to list – and which products to delist – by emphasizing the importance of looking into the utility of a given asset when deciding whether to list it on their exchange.
‘When we looked at the Bitcoin SV ecosystem and we saw that there are 300 companies building on the Bitcoin SV blockchain and we saw all the things that contributed to that – micropayments, the upcoming Teranode – it was easy to make that determination at that point.’
Tokenization with Fabriik
Following Beaxy, Fabriik developers Miguel Duarte and Mauro Lewinzon of Fabriik presented on the Fabriik token protocol, or Simple Fabriik Protocol (SFP). SFP was launched earlier this year, with a wave of token creation following in the stead of the now well-publicised proof-of-concept, ShuaCoin.
The two took the attendees through Fabriik, its integration with MoneyButton and the process of implementing token functionality via SFP.
‘SFP scales in the same amazing way that Bitcoin SV scales,’ explained Duarte. ‘It follows SPV [simplified payment verification], which means that you don’t need to run a full node to run SFP – you can have [the same] blazing-fast validation as regular BSV transactions.’
‘From the beginning, we thought interoperability: we wanted it to be easy to interoperate between different wallets and services. Each token on SFP is related to a PayMail, so just by having a token, you know where to get the information to interact with that token and how to install the API to use it.’
Fabriik’s timing has been impeccable, with the launch of SFP coinciding neatly with broader excitement surrounding tokenization generally in the digital asset space. Both Duarte and Lewinzon described this frantic time as adding pressure to improve upon the project quickly, while at the same time allowing them to iterate on their product faster than otherwise would have been possible:
‘The explosion was extremely useful because we have received a lot of feedback and now know what the next steps are for this to go to the next level,’ explained Duerte.
The token conversation continued as well-known Bitcoin SV developer and Bitcoin Association Ambassador to Panama Atilla Aros took the virtual stage to speak about the non-fungible token (NFT) craze. Most recently, Aros has been developing the SuperAsset SA10, a Bitcoin SV UTXO-based smart contract for NFTs.
Aros explained what makes an NFT, but with reference to what NFTs are not. He referred to the misunderstanding that NFTs are a ‘special type of token that represents a unique asset’.
‘That introduces more questions than answers,’ Aros said. ‘A lot of ideas around NFTs are false.’
Aros offered his own definition of NFTs: an object that can be uniquely identified in which its essential properties are conserved throughout its life. In the case of most NFTs, the conserved properties are its unique identity and its unique history – from inception to trade and so on.
As for Aros’ SA10, it can turn images and files into ownable digital assets which can be exchanged or sent between individuals as easily as Bitcoin is today. It uses the power and speed of the Bitcoin SV blockchain to track the identity, state and ownership of a given asset.
Vaccine management with VXPass
Attendees were then treated to a demonstration of VXPass, given by none other than the founder himself: Zachary Weiner. VXPass is a digital vaccine verification solution built on the Bitcoin SV blockchain. It allows patients to take ownership of their data by taking paper vaccination slips onto the blockchain for a more user-friendly and more easily authenticated solution.
Weiner was able to demonstrate the simplicity of setting up an account with VXPass to how the patient record stored on VXPass can be communicated to other systems using something as simple as a QR Code. He also showed how VXPass can be used to manage the entirety of the vaccination process and how giving users ownership of their data is going to have tangible impacts on how healthcare is administered.
For example, if a patient is using VXPass and has received the first dose of a vaccine because their records rest with the user rather than the provider(s), that person can easily receive the second vaccine dose from any healthcare provider, without the burden of registering their details with and providing their medical history to the new venue.
Solving online reviews with Britevue
Britevue founder, Bitcoin SV ecosystem mainstay and recent Bitcoin Association hire, Connor Murray closed the meetup to speak about his experiences working on Bitcoin SV and within the wider community. He also talked in-depth about Britevue, a blockchain-based review platform that lets users own and profit from the reviews they leave online.
Speaking specifically to Britevue, Murray introduced the project by highlighting three key problems which Britevue sets out to address: the incentive problem (there’s little incentive to leave high-quality reviews); the validity problem, meaning the problem with ascertaining whether a review is valid; and data ownership, both for the users and the businesses.
Britevue is set to begin its phase one launch in April, which will cover the incentive problem.
Among his advice was for viewers to take part in the Bitcoin SV Academy courses:
‘Even if you’re an existing developer and you think you know everything about bitcoin, take that course and go through it. It’s very in-depth and for new developers it requires you have a bit of initiative and put some effort into it, but I think anyone in the space can learn something from the course.’
Until next time
A final word from Jimmy Nguyen brought the event full-circle by reiterating what the Bitcoin Association meetups are meant to demonstrate – that attendees are part of a thriving community with a rich wealth of knowledge and experience waiting to be taken advantage of.
‘We are a global ecosystem of business executives, developers, technology visionaries and people who believe in the Satoshi vision of a Bitcoin blockchain digital currency and protocol that can change the world.’
Special thank you to Genuine Retweets for helping spread the word for March’s meetup.