Recap: CoinGeek New York Conference – Day 3

By Jamie McKane Published: October 7, 2021
Day 3

The third and last day of the CoinGeek New York Conference kicked off on Thursday, October 7, closing off an action-packed conference full of exciting announcements and in-depth discussions around the BSV blockchain space.

The conference took 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.

The third day of CoinGeek New York started off with an introduction by Bitcoin Association Founding President Jimmy Nguyen before diving straight into a series of informative and insightful sessions.

Highlights of day three included the much-anticipated announcement of the 4th BSV Hackathon winner, a keynote address by nChain Chief Scientist Dr Craig S Wright, and panel discussions into a variety of topics around the potential applications of the BSV blockchain.

The day saw many high-profile speakers take the stage to explore and showcase the capabilities of the BSV blockchain, including Fabriik Chief Visionary Roy Bernhard, UNISOT CEO Stephan Nilsson, Bittrex Global CEO Stephen Stonberg and many more.

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

Recap: CoinGeek New York Conference – Day 3

 

Fabriik: the future of digital assets – Roy Bernhard

The first speaker was Fabriik Chief Visionary Roy Bernhard, who took the stage to speak about digital assets, NFTs and how these could evolve to create a tokenised world in the future.

Blockchain-based tokens and digital assets are becoming increasingly useful and valuable as more applications and services find new uses for these technologies. Bernhard says this growth is just the beginning, and BSV-based tokens will eventually take over the world of finance and become increasingly important for the transaction of assets.

‘Tokenization allows us to identify and transact real and digital assets unlike ever before. Finance will no longer be in its own category. Everything is finance and finance is everything,’ Bernhard said.

He moved on to demonstrating the many partnerships Fabriik has nurtured in the BSV blockchain space and the varied solutions it has deployed and enabled for these partners. Bernhard also showcased Weave – a new widget and API service that offers a simple, swift and seamless exchange experience.

‘Weave is a simple, comprehensive, complete digital asset experience. We took all the power of an exchange and put it into a widget or API. We did that because fundamentally what people need and want is access to liquidity – they need to be able to move things across from the traditional world into the new frontier,’ he said.

He also highlighted the other projects, services and infrastructure platforms that Fabriik is working on, including its FabriikX curated NFT marketplace.

Watch the full session here.

 

 

Tokenising equity and debt instruments – Geoffrey Hammond

Next up, Aequantium Founder Geoffrey Hammond addressed the audience on the topic of financial trading and the tokenisation of equity and debt instruments.

Hammond began by looking at the regulation of Bitcoin and other digital assets and their classification as a commodity, stating that this classification is actually a good thing as it allows digital tokens to be traded legally under certain rules.

‘This is actually really good. Everyone in this room should be really happy that the CFTC has taken jurisdiction over Bitcoin because that means it is legal to trade – unlike gold between 1933 and 1973 and other commodities which are not legal in interstate commerce,’ he said.

He added that blockchain is a new asset class in the futures market and explored the potential impact of futures contracts related to digital assets, particularly regarding exchange traded funds (ETFs) and how they are regulated.

Hammond spoke about the work Aequantium is doing in this space by enabling the issuance of tokens to investors representing futures participation. In this way, tokens can be used within the traditional trading framework while being backed by the secure and auditable record of the BSV ledger.

Watch the full session here.

 

 

Panel discussion: Tokenised assets, stablecoins and custody with BSV

The discussion around digital assets and tokens continued with a panel discussion around stablecoins and the tokenisation of assets on the BSV blockchain. The panel was chaired by Jimmy Nguyen and featured the following speakers:

  • James Belding – Co-Founder & CEO, Tokenized
  • Christian Solomine – Board Advisor, BitBoss Corporation
  • Karen J. Wendel – President & CEO, TrustChains, LLC

Panellists began by introducing the companies they represent and how they are using the BSV blockchain to build token-related platforms and services. The discussion began with the topic of stablecoins and the widespread scrutiny around these tokens, including their difficult regulatory position.

Christian Solomine spoke about how the compliance of their stablecoin differs from those under scrutiny, as it is ensured by the fact it is backed on a one-to-one basis with deposits into a chartered bank. He also noted that BSV gives their users the stability they need with regard to transaction fees and processing times.

Panellists also spoke about defining and proving the custody of tokenised assets and the problem of control versus possession. Regulators are struggling with this problem due to the abstraction of the proof of ownership of the asset from the asset itself, Wendel noted.

‘Protocols like BSV are really important in that environment because BSV allows you to store massive amounts of information, and you can store that information in ways that can establish both a chain of processes that support the control aspect but can also demonstrate the possession piece,’ she said.

Belding elaborated on the solution to this problem of custodial compliance by walking the audience through how a tokenised asset implementation built on BSV could comply with the relevant regulation by using the blockchain’s native smart contract support.

Watch the full session here.

 

 

Panel discussion: Future of digital asset trading

Bitcoin Association Legal Counsel and Public Policy Manager Marcin Zarakowski took the stage to chair another panel discussion, this one focused on the current status of digital asset trading and how this industry could evolve going forward.

The panel featured the following expert speakers:

  • Antonio Brasse – CEO and Co-Founder, BlockQuake
  • David D’Amico – Group Director, VP Digital Asset Banking, Signature Bank
  • Joshua Lim – Head of Derivatives, Genesis Global Trading

Marcin began the panel discussion by asking about cryptocurrency derivatives and the current state of the market. Lim explained that the industry has been large and growing for many years because of the ability for spot exchanges to increase trading velocity and increased adoption by retail investors who are taking advantage of leveraged positions.

Panellists also spoke about the cryptocurrency exchange industry in general and the flaws present in many of these platforms. Brasse explained that when BlockQuake entered the market, it noted the need for a regulatory friendly platform that could offer banking and wallet infrastructure services without the security risks and regulatory problems experienced by many companies operating in the same space.

Marcin also asked D’Amico about Signature Bank’s internal usage of blockchain technology through its Signet service, which offers customers an easy and efficient way to make payments at any time.

‘Signet is our 24/7, 365 payments platform for our customers. It allows all of our customers to settle fiat 24/7 instantly. It was truly the perfect storm, you had a deprived industry of banking and you had a company like signature already looking to enhance payments on the traditional side, and there’s no ecosystem that needed that more than digital assets,’ D’Amico said.

Conversation continued around the problems faced by exchanges and banks, including issues with the regulation of fiat on- and off-ramps as well as the adoption of cryptocurrency-based futures contracts.

Watch the full session here.

 

 

BSV in the Middle East and South Asia – Muhammad Salman Anjum

Next up, InvoiceMate Chief Mate and Head of the BSV Hub in the Middle East and South Asia Muhammad Salman Anjum took the stage to speak about the expansion of BSV blockchain initiatives in the Middle East and South Asia region and the lucrative potential for blockchain enterprise in this area.

‘There is a strong drive for digital transformation in this region. Normally in other regions it is the private sector that takes the lead, but in this region it is half-and-half. UAE is the trigger for this effect, and it has had a lot of use cases for blockchain in recent years,’ Anjum said.

He spoke about the economic benefit for governments in these areas, pointing out the significant economic improvements they have made across various public sectors by adopting blockchain technology. The same is true for private companies operating in these areas, especially through public-private partnerships.

Anjum stressed the need for outreach in these areas and the potentially explosive growth for the BSV blockchain in this region. He said that they were speaking to multiple ministries, especially in the UAE, as well as private companies in other areas such as Pakistan to improve blockchain awareness and education.

He pointed out blockchain implementations that were already live in this region and running on the BSV network, and explored the potential for the BSV blockchain to drive digital transformation across many other industries in this part of the world.

Watch the full session here.

 

 

Panel discussion: Blockchain for a better supply chain

The next session was a panel discussion moderated by Jimmy Nguyen. The session focused on supply chain implementations of the BSV blockchain and how companies can benefit from integrating BSV with their supply and tracking processes.

The panellists were as follows:

  • Stephanie Benedetto – CEO & Co-Founder, Queen of Raw
  • Phil Derasmo – CTO & Co-Founder, Queen of Raw
  • Brian H. Choi, CFA – Managing Partner & CEO, The Food Institute
  • Stephan Nilsson – Co-Founder & CEO, UNISOT

Panellists began by introducing themselves and the companies they represent before speaking about the issues they encounter within their industries and how these can be solved by the BSV blockchain. They also discussed the need to educate enterprises on the potential applications of blockchain, which go far beyond payments and currency.

‘When you talk to food industry executives, they immediately think about cryptocurrencies and the natural evolution is towards payments. I think as the industry evolves, eventually I see the application of blockchain going into the accounting area, the finance and operations area, and the data management area,’ Choi said.

Derasmo and Benedetto explained how Queen of Raw is using the BSV blockchain to offer a marketplace solution for the selling of unneeded textile products, rescuing these resources from environmentally unfriendly disposal and turning them into profit.

On the topic of efficient supply chain management, Nilsson explained how UNISOT had developed a BSV-based supply chain management platform which removes the incumbent problem of data silos, offers more reliability and provenance data, and improves efficiency when it comes to tracking and tracing products all the way to the end consumer.

Watch the full session here.

 

 

Panel discussion: Government applications on blockchain

Nguyen remained on stage to chair another panel discussion, this one related to the public sector applications of blockchain technology and how BSV can be used to improve the efficiency of government systems.

The panel featured the following speakers:

  • Saeed Mohammed Ali Alhebsi – Advisor in AI & Sr. Project Mngr, UAE Ministry, of HR & Emiratisation
  • Muhammad Salman Anjum – Head of BSV Hub, Middle East & South Asia | Chief Mate, InvoiceMate
  • Mohammed Ibrahim Jega – Co-Founder, Dominuem Blockchain Solutions Ltd.
  • Ahmed Yousif – Middle East Lead, BSV Blockchain for Government Initiative

The discussion began with Alhebsi explaining the government perspective of blockchain technology and how important the education of blockchain is to driving policy that aims to deliver the goals of the fourth industrial revolution.

Speakers also discussed the state of blockchain adoption in the Middle East and the significant potential the public sector has noticed in the technology, with Saudi Arabia, the UAE, and many other regions actively investigating the applications of blockchain technology.

‘It is very important technology and it is making its way into the government offices for government uses and government transactions, and it’s very interesting to see the Middle East taking the lead when it comes to blockchain,’ Yousif said.

Panellists explored the factors behind the increased interest in blockchain technology in the Middle East, noting the relative youth of many governments in the region. They discussed the idea that this youth may be one of the primary reasons states in this region are interested in embracing blockchain solutions and leapfrogging other nations.

Watch the full session here.

 

 

BSV blockchain in China – Lise Li

Bitcoin Association China Manager Lise Li was up next to speak about the state of blockchain in China, giving attendees further insight into the use cases being built on the BSV network around the world.

Li detailed the recent steps taken by Bitcoin Association to drive development on the BSV blockchain in China, as well as the education initiatives it has launched to improve adoption of the technology in the region.

‘I’d make a bold prediction that there will be more development attempts and applications coming out in the future because China has a large number of programmers and innovators, especially because Bitcoin Association continues supporting start-ups and the developer community in many ways,’ Li said.

She highlighted the impressive achievements and rapid growth of many BSV projects and services in China, including MetaID, sCrypt, Sensible and DotWallet. Li also explained the various education resources made available to developers in China by Bitcoin Association, as well as the outreach it is doing to attract developers to the BSV platform.

Watch the full session here.

 

 

Digital currency as a tool for financial inclusion – Stephen Stonberg

After the lunch break, Bittrex Global CEO Stephen Stonberg addressed the audience via pre-recorded video on the topic of how digital currency can be used as a tool for financial inclusion.

Stonberg began by explaining the Bittrex Global exchange, which caters to customers outside of the United States and operates out of Liechtenstein with a full trading licence and regulatory compliance.

He noted that financial inclusion is a global problem, not just affecting those outside of first-world countries in remote regions, adding that digital currency exchanges have the ability to empower these people with sovereignty over their investments and money.

‘One out of three people in the world are unbanked. Two billion people still don’t have access to financial tools to protect, grow and plan their finances. Twenty-two percent of Americans are unbanked or under-banked, and three billion people had no financial safety net during the pandemic,’ Stonberg said.

Blockchain and cryptocurrencies are an innovative and accessible way for the unbanked or under-banked to grow wealth, he said, adding that the growth in adoption of digital currencies is indicative of the demand for access to these platforms and tools.

‘Right now, people can globally use blockchain technology to build their wealth and they can create diversified portfolios with different asset classes, because with tokens, you can buy fractional pieces of a token,’ he said.

Watch the full session here.

 

 

Panel discussion: A better Internet experience using blockchain

Next up, Bitcoin Association North America Regional Manager Bryan Daugherty moderated a panel discussion of how the BSV blockchain and Metanet can be used to build a better version of the Internet than the one we have today.

The panel comprised the following speakers:

  • Ryan Byrne – Co-Founder & CEO, BuzzCast
  • Ty Everett – Founding President, Project Babbage
  • Connor Murray – Co-Founder & CEO , Britevue
  • Luke Rohenaz – Co-Founder & CEO, TonicPow

The panellists began by introducing the platforms they are building on the BSV blockchain, as well as discussing how the adoption and interoperability of these services can be used to create a new version of the Internet on top of the blockchain that grants users greater control over their data.

Project Babbage Founding President spoke about his journey to discovering the BSV blockchain and how people’s accessibility to modern services has grown with each major technological leap, especially for those with physical difficulties, such as how he is able to interact with the Internet and applications despite his partial blindness.

A central theme of the discussion was data sovereignty and the removal of the need to give up personal data simply to use applications. Through the building of tools and services on the BSV blockchain, power over personal data can be shifted from the large companies that offer people services back to the people who use services built on BSV’s Metanet.

Speakers also discussed how granting users sovereignty over their own data removes the need for data silos while also allowing companies to compete on user experience instead of locking people into their own platform. The panellists agreed that the traditional data-leeching business models of Silicon Valley will be dismantled by large-scale adoption of a blockchain-based Internet.

Watch the full session here.

 

 

Panel discussion: Investigating criminal activity on blockchain

The next panel discussion was chaired by Jimmy Nguyen and focused on the process of investigating criminal and fraudulent activity on the blockchain, and the ways that the BSV blockchain enables this while protecting the privacy of users.

The panel featured the following speakers:

  • William Callahan – Director of Government & Strategic Affairs, Blockchain Intelligence Group
  • Shaun MaGruder – Founder & CEO, BlockTrace
  • Ian Lee –Director, Merkle Science
  • Richard G. Reinhardt – Special Agent, IRS Criminal Investigation

The discussion began with Callahan explaining the process of investigating transactions on a blockchain using an example that demonstrated how payments can be traced all the way until the funds are seized by authorities.

Lee continued the discourse by showing how blockchain-based businesses can protect against criminal activity through applying blockchain analytics to the example of criminals targeting a cryptocurrency exchange.

‘What’s really exciting about blockchain is that for the first time, we have so much data. We can see the entire life cycle of a wallet and monitor its behaviour,’ Lee said.

The conversation then shifted to the monitoring of transactions related to darknet operations and how these can be tracked and identified against a framework of compliant blockchain transactions.

Reinhardt also mentioned how government agencies like the IRS were looking into blockchain security tools that can be used to identify and prosecute money laundering conducted through the medium of digital assets.

Watch the full session here.

 

 

4th BSV Hackathon winner announcement

After a brief break, it was finally time to announce the winner of the fourth BSV Hackathon. The decision came down to the audience vote after the four judges had split their votes between TKS Pnt and Bitcoin Phone.

Once the audience vote had been cast, the final standings were announced:

  • First place: Bitcoin Phone
  • Second place: TKS Pnt
  • Third place: CATN8

Each of the three Hackathon finalist projects used the peer-to-peer features of the BSV blockchain in creative and innovative ways, as required by the theme of the Hackathon, and each was rewarded with the following share of the prize pool according to their rankings:

  • Bitcoin Phone – $50,000
  • TKS Pnt – $30,000
  • CATN8 – $20,000

These three projects join the long list of successful Hackathon teams who have made it to the finals in recent years, many of which have gone on to grow into successful and well-funded businesses.

Watch the full session here.

 

 

Panel discussion: Investing in blockchain ventures

Panel discussion: Investing in blockchain ventures

Next up, Ayre Ventures Managing Director of Private Equity Paul Rajchgod took the stage to moderate a panel discussion which focussed on investing in start-ups building on blockchain technology.

The following panellists participated in the discussion:

  • Wendy Diamond – Founder & CEO, LDP Ventures
  • Alex Fauvel – Founder & General Partner, Two Hop Ventures
  • Roman V. Livson – CFO, Burkhan World Investments
  • Craig Massey – Chairman, Satoshi Dojo
  • Zach Resnick – Managing Partner, Unbounded Capital

The panel began with a discussion around the difficulties of investing in blockchain start-ups and the minefield of projects which solicit funding despite building on platforms which are unable to deliver the value they promise. Panellists noted that scalability and utility are critical when considering whether to invest in a blockchain project.

Panellists also discussed the nature of investment in blockchain infrastructure and how it differs from popular cryptocurrency investment models such as ICOs, relating enterprise investment into BSV infrastructure tools to the adoption of cloud infrastructure providers by major companies to gain a competitive edge.

They spoke about the industry verticals where blockchain-based applications were most likely to offer investors the best return on revenue, as well as their projections for when major venture capitalists will take note of BSV’s utility and begin investing in BSV applications.

Fauvel believes that BSV will eventually garner the interest of major VCs, but there is a major opportunity for early investors to get in on the ground level of blockchain innovation.

‘The biggest VCs are going to be too late, because we’re not yet big enough to draw attention from them. There is some attention but it’s not to the extent that you would expect if people were taking blockchain seriously instead of just tokens.’

‘They’ve been right about the Internet because it’s their domain, but blockchain is very different. It’s our domain and we know this industry better than them, so we should be able to spot the value and get in there, and they will be following on,’ he said.

Watch the full session here.

 

 

Set in stone: what is a commodity? – Dr Craig S Wright

Following this panel discussion, nChain Chief Scientist Dr Craig S Wright delivered the keynote speech of CoinGeek New York day three, focussing on the topic of where Bitcoin draws its value from.

Wright began his address by defining what a commodity is, notably excluding the wide definition of gold from this classification as an example of how commodities are based on contracts.

‘A commodity is 99.998% pure gold, one ounce weighed and assayed, that is a commodity. A commodity is not just a good, it’s the contract. A commodity is a certain amount of something delivered at a certain time, with a certain refinement – that is a commodity,’ he said.

He then went on to define how Bitcoin works relative to this definition, stating that Bitcoin is defined as money, a ledger and a commodity based on its usage.

Wright went on to expand how Bitcoin can function as an informational commodity with functionality that drives its real value as something that generates demand for its utility.

Watch the full session here.

 

 

Panel discussion: Bitcoin and blockchain – value from utility

To close off the last day of CoinGeek New York, Jimmy Nguyen returned to the stage to moderate a final panel discussion which expanded on the utility of Bitcoin and how this can generate real value.

The panel featured the following speakers:

  • George Gilder – Economist, Writer, Investor & Technology Visionary,
  • Rafael LaVerde – Crypto Economic Analyst, The Crypto Vigilante
  • Eswar Prasad – , Tolani Senior Prof. of Trade Policy & Prof. of Economics, Cornell University
  • Dr. Craig S. Wright – Chief Scientist, nChain

The discussion began with the panellists’ reaction to Wright’s argument in his keynote address, specifically his definition of Bitcoin and BSV as an informational commodity. They spoke about the function of money and the mechanics by which Bitcoin as a ledger and transactional system creates utility that imbues it with value.

‘It seems to me that the architecture that underpins Bitcoin is remarkably powerful. I think it’s going to have revolutionary effects. But when I think about BTC, I have some questions about where the intrinsic value comes from. I think what is really going to be transformational is the ability of financial pioneers to use the technology in the way that it can really sing,’ Prasad said.

The debate then moved onto the upcoming changes to the BTC protocol and the viability of different blockchain solutions to deliver the potential value described by the panellists. A consensus was reached on the need for regulation, legitimacy, and a platform which can scale and deliver high transaction throughput with low fees.

Panellists also discussed how law and regulation should interact with the BSV blockchain, including the topic of central banks and the potential for government-backed currency tokens running on blockchain technology as well as the recent move by El Salvador to classify BTC as legal tender.

Jimmy Nguyen closed the third and final day of the CoinGeek New York Conference 2021 by encouraging the BSV community to look ahead at the exponential growth expected from the ecosystem and the real value being built on BSV – the world’s only enterprise public blockchain with unlimited scaling.

Nguyen thanked all the speakers and Hackathon participants for their participation, as well as the live and online audience for attending the presentations and discussions over the past three days.

Watch the full session here.