Recap: CoinGeek New York Conference – Day 1

By Jamie McKane Published: October 5, 2021
Day 1

CoinGeek’s New York Conference 2021 kicked off on October 5, beginning three days full of exciting and varied presentations that offered live and online attendees insight into the capabilities and evolution of the BSV blockchain.

The conference takes place over three days, from October 5 – 8, with each day featuring a mix of panel discussions, keynote addresses and various events. Each of these sessions focus on a different aspect of the BSV blockchain, from the exciting new enterprises building on the network to the theoretical applications of the blockchain’s unbounded scaling.

The theme of this year’s CoinGeek New York Conference is ‘It’s about time’, referring to BSV’s ability to realise the long-awaited value and digital revolution promised by blockchain technology. This ability was demonstrated in the numerous sessions screened during the first day of the event.

CoinGeek New York’s first day was graced by a bevy of sessions from highly qualified and experienced figures within the blockchain industry. These included nChain CTO Steve Shadders, Bitcoin Association Founding President Jimmy Nguyen, Transmira Founder and CEO Robert Rice, nChain Chief Scientist Dr Craig S Wright and Codugh Founder and CEO Shashank Singhal.

In addition to the insights provided by these presentations and panel discussions, another highlight of the event was the presentation of the 4th BSV Hackathon finalists and their projects to a panel of judges who will decide the final placements and prize money allocations at the end of the conference.

CoinGeek New York 2021 was attended by a large live audience at the Sheraton New York Times Square Hotel, and it was broadcasted to thousands of viewers around the world.

If you missed the first day of the CoinGeek New York Conference 2021, we have summarised the event below. You can watch the full recorded live stream of the first day here.

Recap: CoinGeek New York Conference – Day 1

 

BSV Blockchain: It’s about time – Jimmy Nguyen

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Bitcoin Founding President Jimmy Nguyen kicked off the conference with an introduction outlining the theme of CoinGeek New York 2021 – ‘it’s about time’.

‘Time gives meaning to life. It also gives meaning to Bitcoin, and it reinforces why we believe in the Satoshi Vision because of the time it has taken for all of us to get here,’ Nguyen said.

‘Over the next few days we are going to learn about this power of time to affect Bitcoin’s design and blockchain and what we are all going to build in terms of utility with it.’

Nguyen elaborated on the importance of time for recording history and transactions, as well as for detecting fraud and alterations within a ledger using digital time stamping. He spoke about the history of digital ledger technology and how Bitcoin built on early premises to build a distributed timestamp server which enables a truly peer-to-peer digital cash system.

‘The chronological order of transactions is key to Bitcoin’s design, because by recording events of history, whether it’s a payment or a piece of data, in chronological order, you can detect whether there were changes and also give meaning to the information.’

Nguyen closed his introductory session by citing the recent report by MNP that found BSV is the blockchain protocol most aligned with the original Bitcoin design, describing how BSV’s scalable and reliable protocol enables the limitless applications of a distributed timestamped ledger and peer-to-peer cash system that would be shown in the sessions throughout the three-day conference.

Watch the full session here.

 

BSV: Technical update – Steve Shadders

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nChain CTO Steve Shadders took the stage next to discuss the technical state of the BSV blockchain and the challenge with scaling the transaction throughput of the network with block sizes.

Shadders highlighted the impressive growth in average block size seen on the BSV blockchain in the past few months and spoke about the coordinated updates made to the network which allow it to continue scaling far beyond what other blockchains are capable of.

In fact, transactions on the BSV blockchain are beginning to push the miner-defined block size limit of 2GB, and Shadders said that as a result, the node software’s default limit will be increased in mid-November to ensure the continuing growth of the blockchain and its transaction capacity.

‘We have reached critical mass now. I know that miners representing the majority of the hash rate have now increased that limit, so we will be increasing it in the 1.0.10 release which is due in mid-November,’ Shadders said.

He went on to describe the immediate challenges faced by the BSV infrastructure team and how they have dealt with past challenges such as the Genesis update, which saw a massive set of protocol changes that restored the original functionality of the Bitcoin protocol.

As BSV block header formats can currently only describe message size in a 32-bit number, this limits maximum block size to around 4GB. However, Shadders explained that a simple solution to this problem would also be implemented in the 1.0.10 update expected in November.

Another key part of Shadders’s presentation was the announcement that Teranode would launch publicly in 2022, bringing the power of horizontal scaling to the BSV network to deliver exponential growth in transaction throughput.

‘The most important thing for us right now is to actually get Teranode onto the live network. We will have Teranode out publicly in the first half of next year, and we’re hoping to have the complete transition from the old Bitcoin SV node software to a fully Teranode-driven network by the end of 2022,’ Shadders said.

He also outlined the new LiteClient environment, which allows users to interact with and run applications on the BSV blockchain without needing to run a full mining node. This is enabled by a suite of services developed for the BSV ecosystem such as SPV Channels, mAPI, and Paymail.

Watch the full session here.

 

Panel discussion: Online games on the BSV blockchain

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The next session focussed on the online games and gaming platforms being built on the BSV blockchain and how these use the unique capabilities of BSV to deliver unique and exciting features.

Built By Gamers Strategic Advisor Taylor Searle spoke about the wide proliferation of gaming throughout modern culture and how the concept of gamification to industries far beyond those linked to traditional video games.

‘Gaming is massive – it’s much bigger than you think. About half the world’s population would be considered gamers right now. In fact, the revenues from gaming already exceed the film and sports industries combined,’ Searle said.

‘The gamer ethos really has a home in the BSV blockchain. Over the last year, Built By Gamers has been working with Haste Arcade, HandCash and NFTY Jigs to develop the future of gaming. We have created what we think is going to push gaming to the next level.’

Haste Arcade Technical Co-Founder Eric LaForce then took the stage to demonstrate the service they are building, which will combine the power of micropayments, NFTs and complex smart contracts to deliver a true blockchain-powered gaming platform.

‘In the alpha version, we developed a couple of concepts that are only possible within this ecosystem – HST tokens and player cards,’ LaForce said.

Players earn HST tokens as they play games listed on Haste Arcade, regardless of whether they win or lose, and player cards can be purchased to unlock VIP features and exciting perks on the platform.

Unbounded Enterprise CEO Jackson Laskey was up next to speak about their upcoming DuroDogs game, which uses the power of NFTs created on the NFTY Jigs platform to deliver unprecedented integration of user-owned and customisable NFTs into games and marketplaces.

‘Digital goods created on the NFTY Jigs platform are interoperable. Interoperability is a buzzword a lot of the time it’s used, but for us it is extremely core to our mission. We can achieve this because of the power of the BSV blockchain and the micropayments it enables,’ Laskey said.

Haste Arcade and NFTY Jigs are connected by the HandCash wallet. HandCash Software Engineer Brandon Bryant explained how, through the launch and integration of the wallet’s Duro virtual currency, they are able to power a diverse and interoperable ecosystem of easily accessible applications.

Bryant announced that HandCash had further enhanced its user experience flow to allow users to create a new account, top up their wallet, and instantly sign in to the Haste Arcade and NFTY Jigs platforms.

‘This is an essential ingredient to appeal to a massive audience on onboard millions of users,’ he said.

Speakers also discussed exciting new plans for integrating gaming with the capabilities of the BSV blockchain and the interoperability brought by this partnership within areas such as eSports and global gaming micropayments.

Watch the full session here.

 

Panel discussion: Esports and blockchain

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The next session saw Jimmy Nguyen take the stage again to chair a panel discussion on eSports and blockchain which featured the following speakers:

  • David Case – CTO, FYX Gaming
  • Daniel Cossi – President, World Esports Consortium (WESCO)
  • Tyler Farnsworth – CMO, Built by Gamers
  • Henry James – CEO, Espo

The discussion opened with a discourse around the importance of transparency within the world of professional gaming and how the BSV blockchain’s immutable and publicly auditable ledger can improve the current state of eSports.

‘[Currently in eSports], there isn’t visibility into what is happening at the server level and what the rules are or how they are applied.’ Case explained.

Cossi elaborated on the problems with transparency by referring to instances of match fixing and cashback schemes with regards to betting on eSports fixtures, stating that this a problem which blockchain can secure against and prevent from happening.

Panellists also spoke about how the BSV blockchain and the micropayments it enables can help to improve fan engagement with eSports and online gaming, with Farnsworth explaining how microtransactions are leveraged by Built By Gamers.

‘One of the hurdles within the world of eSports right now are the disparate parties that are a part of it… there’s not a unifying through-line there. What we are doing is building an ecosystem around that which is helping propel the industry forward. We are building a fan engagement platform that rewards people with Duro that can be exchanged for a number of different things,’ he said.

On the subject of the utility of the BSV blockchain and NFTs in eSports, James spoke about how this brings value to the teams that partner up with their company as well as the community.

‘It’s not just a value-add to our company, but also to the teams that are partnering up with us, the talent that is partnering up with us, and for the wider community as well. We have to collaborate and remove this fragmentation that exists in eSports,’ he said.

Watch the full session here.

 

Panel discussion: iGaming and responsible compliance

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Up next, CoinGeek Lead Gaming Industry Report Becky Liggero Fontana took the stage to moderate a panel discussion on iGaming and how the BSV blockchain can improve compliance in the gambling industry. She was joined by the following speakers:

  • Peter Bainbridge-Clayton – Founder & CTO, kompany
  • Paul Foster – CEO, Crucial Compliance
  • Nick Hill – Sales Director, nChain

The first topic up for discussion was the current status of regulation around the gambling industry and the issues around global legislation which hinders these operations.

Hill outlined the issues around global regulation of the gambling industry, noting that certain regulatory stances risked driving the industry underground and encouraging the adoption of unregulated platforms.

Foster spoke about a potential solution to this problem using blockchain technology and the BSV network, by ensuring that key actions are logged and properly auditable to ensure easier compliance with regulations.

‘Data integrity is what drives safer gambling, and if you don’t have data integrity then you can’t drive safer gambling within this industry,’ Foster said.

Hill echoed the importance of the BSV blockchain is assuring compliance, noting that the issue could be solved by nChain’s Kensei enterprise data integrity platform.

Bainbridge-Clayton went on to explain his company’s use case for Kensei and how they have integrated the service into their operations, adding that performing the initial stages of integration has been trivially simply.

‘The work that nChain has done on the Kensei platform, it removed the worry of talking to a specific blockchain. Anything which takes away that level of hassle that is unnecessary is quick to implement for us,’ he said.

Speakers also discussed the education of regulators within the gambling space around the utility of blockchain in delivering this data integrity value, with panellists stating that it aligns with the ultimate goals of the regulators to improve compliance.

Watch the full session here.

 

AR, VR and the Metaverse on the blockchain – Robert Rice

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Transmira CEO and Founder Robert Rice was on hand to speak about the applications of augmented reality (AR) and virtual reality (VR) on the BSV blockchain.

He gave some background on the Omniscape platform, which is the first Metaverse platform connected to the real world, comprising tokenised blockchain assets linked to tangible counterparts.

He also spoke about the potential use cases that stem from BSV’s ability to link the real and digital worlds and noted the advantage they have in building on a blockchain which is capable of delivering this vision in a scalable and efficient way.

Transmira has made great strides in cutting-edge technology relating to the tokenisation and integration of real-world 3D assets into the public BSV digital ledger, and Rice showed off many of the projects involved in the Omniscape project, from MetaPets to the tokenisation of avatars based on physical people.

His speech explored the limitless applications of creating and manipulating assets built and organised within a virtual world on the blockchain, especially when this technology is paired with virtual and augmented reality.

‘The Metaverse is about who you are, where you are and what’s around you. This is one of the reasons why BSV is ultimately going to win – it’s fast, scalable, inexpensive, and it’s got us,’ Rice said.

Watch the full session here.

 

Panel discussion: BSV vs other blockchains

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After the lunch break, CoinGeek Chief Bitcoin Historian Kurt Wuckert Jr took the stage to chair a panel discussion that explored the differences between BSV and other blockchain protocols. The following speakers took part in this discussion:

  • Peter Bainbridge-Clayton – Founder & CTO, kompany
  • Kevin Healy – Independent, App Developer & Investor
  • Rohan Sharan – Product Manager, BlockReview

Sharan explained how the digital token or coin is critical to ensuring the tamper-proof property of the blockchain.

‘If you don’t have the coin aspect, then what you have is essentially linked hashes in a data structure and if you don’t have proof of work then you lose the tamper-proof property of the blockchain. It is very necessary to have proof of work and that incentive,’ he said.

Bainbridge-Clayton elaborated on this concern by referring to the adoption of permissioned blockchains and how many companies opt to choose this data structure as opposed to a blockchain as described in the original documentation which describes the technology – the white paper written by Satoshi Nakamoto.

Shifting the conversation to the development environment of different blockchains, Healy noted how while a number of other blockchain development spaces were beginning to be fleshed out, BSV remains in a relatively nascent stage of accessibility. This can be a boon for the efficient operation of the system, however.

‘BSV is starting with those low-level elements of computer science, and if you want to build something that scales and really works, then you actually have to understand that base-level stuff and you have to design a system from that level and build up. These other [blockchains] make it easy for developers, but if you actually want to build something that’s durable and can support the infrastructure of global finance you need to go down to the basic level,’ Healy said.

The session also included a discussion around the history of Bitcoin and blockchain technology, as well as the culture and philosophies within the blockchain developer industry.

Watch the full session here.

 

Better information tools for a more lawful blockchain industry – William Callahan

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Blockchain Intelligence Group Director of Government and Strategic Affairs William Callahan gave a presentation about the need to improve legal compliance within the blockchain space and how this can be accomplished.

He introduced the investigative and blockchain analytics tools used by Blockchain Intelligence Group, as well as the courses they offer to law enforcement to aid them in tracking criminal activity on blockchain platforms.

These tools can be extremely useful for combating the slew of cryptocurrency-based scams proliferating on social media and following the chain of transactions to find the culprits behind these schemes.

Callahan demonstrated how these tools work by applying them to real transactions and showing how it was possible to ‘follow the money’ on the BSV blockchain to root out fraudsters and bad actors.

He also highlighted the training offered by Blockchain Intelligence Group, which can be useful for everyone from local law enforcement agencies to companies who are operating in regulated spaces and aim to keep bad actors away from their platforms.

‘We’ve seen a lot of different communities wanting to come in and take this training and understand it a lot better. I’m here today to invite all of you into our cryptocurrency investigator community,’ Callahan said.

Watch the full session here.

 

Micropayments for the World – Shashank Singhal

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Codugh CEO and Co-Founder Shashank Singhal took the stage next to speak about their company, which uses the microtransaction capabilities of BSV to enable an API marketplace for developers which allows them to be rewarded per each call that is made to their software.

‘The problem is that there is no simple solution for developers to monetise their APIs. This is the core problem that we want to fix,’ he said.

He explained that developers can sign up to the Codugh marketplace and upload their API within minutes, after which it can be called by other developers for a small microtransaction which is sent to the creator.

‘We are now ready for software developers and businesses to come aboard and join us as part of our public beta programme. If you are a software developer or business that builds APIs or are interested in simplifying your development process, come join us and check out our website,’ Singhal said.

He provided a quick preview of the Codugh marketplace in its current form, and also spoke about the upcoming features coming to the platform. These include the announcement of CUSD – a microtransaction token built on the STAS protocol on the BSV blockchain.

‘This means that non-BSV and non-crypto developers can use BSV as a payment processing network to send microtransactions without even realising that BSV is powering everything underneath the hood,’ Singhal explained.

Find out more about Codugh’s CUSD token here or watch the full presentation by Singhal here.

 

Smart contracts on Bitcoin – Xiaohui Liu

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sCrypt Founder and CEO Xiaohui Liu was up next to speak about smart contracts and tokens on the BSV blockchain, and how sCrypt aids in the development of these technologies.

He began by explaining the benefits of smart contracts that run on the BSV network, including the utility of a trustless system that requires no third party – enabling the atomic exchange of goods and payments.

Liu spoke about the creation of smart contracts on the BSV blockchain and how this is made more accessible through their sCrypt programming language and both their cloud- and desktop-based IDEs. He also announced that SDKs for GoLang and Java developers would be released in the neature future.

‘We have received a lot of enthusiasm from developers, and today we just reached 2,100, so that is quite a rapid growth especially considering we haven’t done any marketing yet. We have seen a lot of projects adopting our technology, either building the whole product on sCrypt or adding sCrypt into existing technology stacks,’ he said.

Liu’s presentation highlighted the potential capabilities of blockchain technology in terms of problem solving as well as the construction of applications that can run autonomously without trusted third-parties.

Watch the full session here.

 

BSV venture investments – Paul Rajchgod

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Moving from the technical to the commercial aspects of the BSV blockchain, Ayre Ventures Managing Director of Private Equity Paul Rajchgod took the stage to speak about the potential for venture investment in the blockchain space.

He introduced Ayre Ventures and explained its central focus on how BSV is shaping the world, investing in various industries that are using the BSV blockchain to their advantage.

Rajchgod went on to demonstrate the investment philosophy of Ayre Ventures by explaining why they do not invest in ‘cryptocurrency’, with reference to the speculative buying of tokens with inflated prices that reflect no real utility.

‘The financiers behind this crypto factory would lead you to believe there needs to be a crypto behind everyone or everything, otherwise how can you possibly launch a business focused on blockchain?’

‘Most cryptos are unnecessary, they don’t work, they are scams, or in many cases they are all of the above,’ he said.

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Rajchgod noted that many good companies are lost in this ‘crypto noise’ and urged them to move over from other blockchain platforms to reliable and functional environments BSV before they are outcompeted.

‘BSV is the world’s only infinitely scaling enterprise public blockchain and the ideal platform for micro- or nano-payments with ultra-low transaction costs.’

Watch the full session here.

Presentations: BSV Hackathon finalists

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The next session saw the three finalists of the 4th BSV Hackathon present their projects, which they worked on throughout a six-week coding period that culminates at CoinGeek New York.

Four judges – nChain Chief Scientists Dr Craig S Wright, Ayre Ventures’s Paul Rajchgod, Deutsch Inc Chairman Emeritus Donny Deutsch and nChain CTO Steve Shadders – watched the finalists’ presentations and posed them questions related to their projects.

The finalists and their projects were as follows:

  • Marcel A. Gruber – CATN8
  • Joe Thomas – Bitcoin Phone
  • Masatomo Tanaka – TKS Pnt

CATN8 is a micropayment-based online video streaming platform which offers a fully featured SPV wallet implementation. It is referred to as the ‘Money Button of video players’ and is designed as an SPV streaming wallet, a monetised video player and a streaming media server, the entire structure of which is based on the Bitcoin protocol.

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Bitcoin Phone is the world’s first voice-over-Bitcoin protocol which can broadcast voice data over the Bitcoin network by leveraging the non-finality of nSequence to enable close to real-time data streaming. This essentially allows people to conduct voice calls through the medium of Bitcoin transactions on the BSV blockchain.

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TKS Pnt is a point tokenisation system designed for use by merchants and their customers. The application collates points systems offered by various merchants and integrates them into a mobile application that transacts and records the history of each points system transaction on top of the BSV blockchain.

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The final placements of the three finalists and their share of the $100,000 BSV prize pool will be decided on October 7, the last day of the CoinGeek New York Conference.

Watch the full session here.

 

Hackathon discussion: Building real value with blockchain projects

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The judges who viewed the Hackathon presentations were joined on stage by Jimmy Nguyen and asked to give their general impressions on each of the projects presented to them, as well as the potential applications and expanded capabilities of the products created by the finalists.

Each judge weighed in on the ability for the three types of peer-to-peer applications to build applications on BSV that add real value within and outside of the blockchain industry.

‘I think all of the projects addressed [the peer-to-peer] element in different ways, I was happy to see someone use the mobile client libraries and tap into the instant notification functionality of phones. Someone fiddling with nSequence and nLockTime in a payment channel way was also a pleasant surprise,’ Shadders said.

‘I think they went very well but what I’d like them to do would be to start thinking a bit further,’ Dr Wright said, pointing to an example of a potential mechanism for secure DRM on the BSV blockchain which could expose bad actors and make them financially liable for sharing copyrighted content.

Rajchgod said one of the biggest challenges for these types of projects is identifying the customer need for these technologies, an opinion which was echoed by Deutsch.

‘Since this is such a technology-driven industry at this point, I think the winners are the ones who are going to be partnered with marketers and classic consumerists. It’s one thing to invest in something, but it’s another thing to make it part of your day-to-day life,’ Deutsch said.

Watch the full session here.

 

Time is a personal experience – Dr. Craig S. Wright

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Dr Craig S Wright returned to the stage to deliver the keynote speech of the day, honing in on the theme of the conference by focussing on the concept of time as a personal experience within the Bitcoin network.

He began with an explanation of how time works within the Bitcoin network, considering its integral role in the underlying protocol and its timestamped digital ledger.

‘The nature of how nodes see time, how individuals see time, in Bitcoin is really simple – it’s what you experience, it’s the evidence you have. This is a concept that people get wrong. They think it’s about voting for mine versus yours – it’s not,’ he said.

He went on to relate this concept to the problem of solving double spending, which is one of the key aspects of Bitcoin’s design, stating that nodes can argue against bad actors by broadcasting their proof that a transaction was processed at a certain time.

Wright also spoke about the reputational system built into Bitcoin by alluding to the problem of proving someone’s existence by referencing their historical record of documents and empirical evidence. The same practice is true for Bitcoin, with this testable process being used to establish facts of existence and ownership.

‘Time matters. How do you prove things? Time gives us evidence of trails, of audits, of all the things that have occurred. Time allows us to find out the history and performance of things. Time allows us to build all the different ways we are creating companies,’ he said.

Watch the full session here.

 

Panel discussion: Blockchain and the future of technology

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The last session of the evening saw Jimmy Nguyen chair a panel discussion on blockchain and the future of technology with a panel of star experts in the world of cryptography.

The following speakers took part in the discussion:

  • Ian Grigg – Financial Cryptographer,
  • Stuart Haber – Principal, Stuart Haber Crypto, LLC
  • Scott Stornetta, Ph.D. – Partner, Yugen Partners
  • Craig S Wright – Chief Scientist, nChain

Nguyen began by exploring some of the history of blockchain and speaking to the panellists about the origins of the technology, sparking intriguing insights into the foundational research behind blockchain by Haber and Stornetta, who first laid the groundwork in 1991 for the idea of digital timestamping being used in this manner.

‘I would like to say that while I often see Stuart and myself mentioned as co-inventors of the blockchain, and from my perspective I would be happy to say co-inventors of the early or proto-blockchain. I say that because so much value has been added on top of our earlier work that what we think of as the blockchain today is more than what we did, but several of the key ideas do in fact emerge early on,’ Stornetta said.

Wright then spoke about his experience reading the works written by Stornetta and Haber which described the blockchain and how this was implemented into the solution described in the Bitcoin white paper.

Grigg spoke about the idea behind Ricardian contracts and the importance the idea of hashing data has in proving the integrity and provenance of contracts in a manner that can be proved mathematically.

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The discussion then migrated to how all of these cryptographic concepts were leveraged in the creation of Bitcoin and how the future of blockchain technology will build on them to realise even more applications of the capabilities they provide.

On October 13, it will be the 30th anniversary of the ‘proto-blockchain’s genesis block, and Stornetta teased something special he has in store to celebrate. Keep an ear to the ground to find out more details.

The conference was closed out by Jimmy Nguyen, who thanked all attendees – both those who viewed online and who were physically present at the conference.

Watch the full session here.