Malta is one of the first jurisdictions to embrace cryptocurrencies, providing a competitive environment for companies in the space, similar to the island’s iGaming industry. The E&S Group has been among the first legal services firms aiding startups and those exploring cryptocurrencies and blockchain for the first time.
“We started way back when there was nothing of all this,” E&S Group Director Dr. Christian Ellul said, referring to the present vibrancy of the cryptocurrency sector. “It was an unregulated environment, so we tried to help clients fit within the client regulations which were there. For example, ICOs, we structured as what we called reward-based crowdfunding events, to make sure we were compliant. Of course, now we have specific legislation just for that, which makes it easier and gives comfort to people who are investing, and even clients who feel, okay, they’re really getting like the Rolls Royce of treatment here.”
The firm has released its own token for availing of its services. “The last year, we’ve really focused on crypto and blockchain advisory. We’ve started assisting ICOs, in all their legal documents, all their legal work, now exchanges, OTC and all that, so we’re very much embedded in it. So we said, okay, what better way to do it than also have our token? So we have an ESTS token that connects to our services. People come pay our services apart from the main Bitcoin and alts,” Ellul said.
Holding such offerings was good in terms of public relations, according to Ellul, but also it showed that “we went through the process ourselves. We’re not just advising clients about something we don’t know about. We actually did it ourselves, in private placements, so I think that gives us the edge compared to others, because we really know what we’re doing.”
It makes sense, according to Ellul, to also provide assistance to those in iGaming. “There’s a nice relationship between gaming and crypto. Malta has been very well positioned because Malta regulated gaming a long time ago, it being a high-risk industry, and therefore, it’s a natural continuation to now regulate crypto, which is also seen as a high-risk industry. So then I think Malta really could bridge that gap by being the first in gaming and also among the first in crypto and blockchain,” he said.
The link between gaming and cryptocurrencies is evident in E&S Group’s clients’ activities. Ellul explained, “I think blockchain is useable for everyone in the world, and including gaming, but gaming tends to lend itself to blockchain. We have ICOs that are funding, for example, a gaming company. We have other gaming companies that want to start using cryptocurrencies, and that’s basically sandbox allocation rules by the MGA [Malta Gaming Association] now, so they really do link in well.”
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CoinGeek’s Becky Liggero caught up with White Company CEO Elizabeth White, who’s spreading merchant adoption with her various products.
Elizabeth White, with her White Company, makes it easier for merchants to accept cryptocurrencies for payment, even if they don’t know anything about the technology. With her White Market luxury store, she’s made it possible to acquire an assortment of luxury items, “from Pamp Suisse gold to Lamborghinis, to trips around the world, so anything your heart desires that you would like to spend your cryptocurrency on, we can facilitate.”
The White Company is doing everything cryptocurrency-related, from mining to having a stablecoin, and recently, they have just launched a reloadable debit card called the White Card. “[W]hat is exciting is we’ll be the first reloadable cryptocurrency debit card that will accept Bitcoin SV, Bitcoin Cash [ABC], [BTC], Ethereum, and XLM,” White said.
She believes it is important to make blockchain technology as accessible as possible to foster adoption. This is why she prefers having users transact with email addresses, “compared to using an actual long blockchain hash or private keys, secure keys, storing them. And this will never move to masses till we actually are able to consolidate the process. So with our products, we have been able to transfer funds, quickly and easily, with three-second settlements, just with your e-mail address.”
Merchants can use White Label Solutions, which allows cryptocurrency payments to be settled in fiat, in the currency preferred by the seller. White said, “[T]hey can accept cryptocurrency, and the fees are much lower than, say, a Visa or a Mastercard. We’re actually only charging 0.1% for merchants to accept cryptocurrency and then convert directly into fiat and settle, where you have things with Visa and Mastercard that are 3%-7%, and if you’re a high-risk merchant, up to 11%… Merchants still accept that, but there are easier ways, and the future is to accept the cryptocurrency which allows them to give back to their employees, have better revenue and returns, and give back to their, maybe, stock owners or investors.”
Watch Elizabeth White’s presentation, Building a Two-Sided Network, at the CoinGeek Week Conference in London below.
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CoinGeek’s Becky Liggero spoke to BadChain founder Leo Leiman, who is ready to show off his blockchain-themed apparel in whatever conference he attends.
Leo Leiman, founder of BadChain, has attended numerous blockchain and cryptocurrency conferences in the last couple of years. By his count, he’s been to as many as 50 of them. The Malta Blockchain Summit in particular, he said, is “one of the best” he’s been to, with a great number of investors and foundations involved. “You can feel the money from the investor, because if you see someone in Russia who says he’s an investor, he has for example $100,000, but here it’s more true investors, and projects here [are] better than somewhere else,” he explained.
He said the very liberal attitude of Malta when it came to the blockchain industry made it a great venue for the summit. “It is like when Canada or the USA legalized marijuana. A lot of people go there… Here, it’s also, ‘Come here, it’s open, [to] companies for blockchain.”
Dressed up in Bitcoin-themed clothing, he is quick to offer his services. “I can make T-shirts for you, I can make rain coats, or like T-shirts with crypto,” he said, adding that he also designed rings embedded with the cryptocurrency one chooses.
The idea for such designs came from seeing the opportunities among those in the business. “A lot of guys in the industry are smart, and I think that they could be stylish also. And it was like how the idea was born. And I decided to do the merch. It was like this idea, I decided to do it one year ago, and I created a blockchain system for clothing also, just for fun,” he said.
Leiman sees his clothing brand also serving an educational purpose. “I have huge experience in this field, and I know how to make the young generation more happy because they can work everywhere… They can go to, for example, to Malta, and have good income. They can be in this industry, but they have to be smart a bit, smarter than others, but it is okay. It’s a really stylish industry. It is young, fresh,” he said.
The post BadChain’s Leo Leiman adds style to the blockchain world appeared first on CoinGeek.
Steve Shadders, director of solutions and engineering at nChain, wants to make one thing clear: there will be no more split down the road for Bitcoin SV.
On the sidelines of the CoinGeek Week Conference in London, Shadders explained why the chances of a potential split down the road for Bitcoin SV “are pretty unlikely,” saying: “The reason for that is because everyone who has come along and followed the Bitcoin SV roadmap understands that part of that roadmap is locking down the protocol. And that is all we really actually had to fight about and the only reason why there was ever going to be a split.”
Sure, there will be disagreements, but people will deal with these “by building whatever it is that they want to build and compete”—and none of these will affect the base protocol, he stressed.
For nChain, the roadmap for the next couple of months will be “much bigger blocks,” with the Teranode project taking the original Satoshi Vision to the next level. Teranode is not a monolithic “one size fit all” implementation. Instead, the project separates four core functions into a modular microservices architecture approach—making a separate Business (RPC) Layer, Network (P2P) Layer, Process Layer and Storage Layer. It will also seek to solve a technical issue that arises with a massively scaled Bitcoin network with terabyte-size blocks: how to optimize the unspent transaction output (UTXO) database maintained by nodes to prevent double-spending of Bitcoins.
Shadders, however, pointed out that collusion double-spending is highly unlikely “because it’s not in the miners’ interest to undermine the value proposition of the very coin that they get paid in.” For other types of broadcast double-spends, Shadders said there simple mitigations—just make sure that the merchant knows about it.
“Right now merchants aren’t really doing that. They’re not going out and querying the miners and we don’t have an easy mechanism for them to do that but that’s one thing that we’re planning on, not just planning we’re in progress, building right now so a merchant will be able to query multiple miners and check on the status of their transaction. They will be able to check with the miners and find out what minimum fee is required to guarantee you’re going to mine this transaction,” he explained.
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CoinGeek’s Stephanie Tower spoke to former New York governor David Paterson about how clear regulations could make for a more beneficial blockchain industry.
David Paterson, who served as governor of New York for three years, is hesitant to talk about Bitcoin, or blockchain in general; however, he recognizes its potential. “I don’t know much about it. Being in the traditional investment banking community, we’re restricted from any interaction in that regard. I know that the Securities and Exchange Commission [SEC] has attended a lot of the events to talk about this, so they are giving it a look to see if it can actually work.”
To Paterson, government officials have a role to play in any new industry as in years past so that the general public can be protected. “One of the difficult problems with any new kind of invention—it doesn’t matter what it is—is that the regular suspects, the scam artists, come out and try to enlist people, and they are sometimes indistinguishable from perhaps people who have found a new technology that can really help the world or a new currency that can help the world,” he said.
Paterson sees much benefit to the economy in general, where blockchain-based products would serve in “cutting down, I would imagine, on the time to get things done.” He explained, “That’s what made technology stand out. The less time it takes to do something, the better, [and] results in the more clients you can address. But I don’t even really know enough about how it works to know, and this is why I’ll probably wait for some oversight or heads-up.”
It’s no wonder he’d rather wait for official dictates on the matter. Paterson’s view of history is also one where people have benefited from the state looking out for those caught up in, for instance, the ‘Roaring Twenties.’
“This is not to impugn the reputations of people working very hard to get something done, but they kind of have to understand that one of the reasons the SEC was founded is because of the wild activity that went on that caused the Great Depression in 1929, and the government was behind it. So if the government is in front of it now, and making all of us kind of hold our fire until they take a look at it, it will probably be well worth the time, than to have a situation that occurred in 1929 where people lost so much money, they committed suicide,” he said.
In 2008, when Paterson’s office was faced with a fiscal crisis at around the same time the financial crisis hit the nation, the former New York governor dealt with problems head on.
“We became the first administration in 20 years to increase the welfare allocation, which was woefully less than people who rely on it to live could actually afford. We increased the participation in government procurement from women and Asian and African-American and Hispanic-owned businesses from about 2% to about 29% just in three years. We also increased participation of women and minorities in banking and insurance and the sales of securities and bonds,” Paterson said. “At the same time, I tried to give the charter schools, which were alternative education outlets, some resources that they hadn’t really gotten from government before. And we increased the pay for domestic workers who were left out of the Fair Labor Standards Act in 1938. Seventy-five years later, they now get the minimum wage just like anyone else in New York.”
If you’re interested in helping the growth of merchant adoption of Bitcoin BCH, join the bComm Association, an industry group that intends to be the focal point for miners, merchants, exchanges, developers and members of the BCH community. Developers and merchants of the Bitcoin BCH community will also be on hand for the CoinGeek Week Conference happening in London on Nov. 28-30. Tickets to the three-day conference are still available via Eventbrite.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
The post David Paterson: Blockchain to benefit from oversight appeared first on Coingeek.
In this interview with CoinGeek’s Becky Liggero, the nChain CEO discusses the three pillars of Bitcoin SV—stability, scalability, and security.
October 15 marks an important event for the Bitcoin Cash (BCH) community. On that day, the release candidate of the Bitcoin SV alpha client went live, one month ahead of the November Bitcoin Cash (BCH) network upgrade.
Bitcoin BCH miners and mining pools are encouraged to begin using Bitcoin SV, which is a new full-node implementation for Bitcoin BCH designed to fulfill the vision set out by Satoshi Nakamoto’s original Bitcoin white paper. Currently, the Bitcoin BCH ecosystem has a number of full node implementations available, but what makes Bitcoin SV stand out?
The answer, according to nChain CEO Jimmy Nguyen, is straightforward: Like its initials, which stand for Satoshi Vision, Bitcoin SV better fulfills the original vision for Bitcoin.
“The goal of Bitcoin SV is to restore the original Bitcoin protocol, and then create an implementation that enables a protocol that is stable, scalable, and secure,” Nguyen explained. “Those are our three main goals, and it’s designed to really allow a protocol to enable what bitcoin was always meant to be but could not be once Bitcoin Core [BTC] took over the protocol, but now that it’s been reclaimed in bitcoin cash, we want the software implementation to enable that vision to come to life.”
With a stable protocol, businesses—especially the big businesses—will feel comfortable operating on it. Take the internet, for instance. Its evolution has been very slow, which, according to Nguyen, makes sense since businesses or those running websites or mobile applications don’t want have to deal with time consuming, expensive protocol changes every six months.
“Do you want the big business of the world to build their house, their projects, on sand or on a rock foundation? We don’t want the platform and the protocol to be moving quickly every six months. We want foundation to be rock solid,” the nChain CEO noted.
Scalability is another key component of Bitcoin SV. While other implementations seek a gradual approach to scaling, nChain believes that the Bitcoin BCH network needs to scale bigger and quickly. With Bitcoin SV 0.1 version, the default maximum size of accepted blocks has also been increased from the 32MB soft limit to 128MB. The reason behind this comes down to one thing: economic reality. For Bitcoin BCH miners to remain profitable in two years, when the halving event is set to take place, the network needs to start scaling now.
For big businesses, scalability is also critical. Nguyen said, “They want to know that the network will be able to sustain the large capacity that’s needed for their project and other companies’ projects because otherwise they’re going to be hesitant to say, ‘Why would I commit millions of dollars of resources and time to build let’s say my blockchain application on a network which may not be able to sustain that scalability issues?’”
Speaking of critical issues for cryptocurrencies like Bitcoin BCH, we have security. For the Bitcoin SV team, it means developing a world-class security system for Bitcoin SV’s code.
“Security is definitely this key issue. We are going to work as hard as possible to implement the best practices possible and modeling some of the best practices from security systems and rigorous processes in some of the most mission-critical industries such as aerospace, national security, transportation. I think that will serve the bitcoin community well,” Nguyen said.
In closing, the nChain CEO addressed the potential split that could happen in November, saying that it’s natural in the Bitcoin ecosystem for groups to emerge with a different plan and vision—and it’s up to the miners to choose.
Unlike other implementations, Bitcoin SV is born out of the desire to empower miners to direct the future of Bitcoin and also to ensure BCH miners remain profitable. Miners will have a choice and a voice to drive the process of restoring Bitcoin to its optimal state—that of unbounded blocks, original op_codes, and no artificial limits imposed on the protocol.
“We believe it’s time for bitcoin to grow up. It’s time for bitcoin to professionalize. We want a massively scaled network, we want worldwide adoption and enterprise-level usage. We want 5 billion people using Bitcoin Cash in the years to come. To get there, we need to demonstrate that its ecosystem is professionalized with world-class security, quality assurance practices with a scaled network, with big blocks to support big enterprise and global payments. And, going back to the first pillar, a stable protocol,” Nguyen said.
The Bitcoin SV project was created at the request of and sponsored by Antiguan-based CoinGeek Mining, with development work initiated by nChain. The project is also owned by the Antiguan-based bComm Association on behalf of the global BCH community, and the Bitcoin SV code is made available under the open source MIT license. Check it out during Miner’s Day at the upcoming CoinGeek Week Conference in London next month.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
The post ‘It’s time for Bitcoin BCH to grow up’: Jimmy Nguyen explains the importance of Bitcoin SV appeared first on Coingeek.
CoinGeek’s Stephanie Tower spoke with Lt. Gen. (Ret) James Clapper on how governments can harness blockchain technology.
Lt. Gen. (Ret) James Clapper, former director of national intelligence for the U.S. government, participated in the recent Block Seoul conference in South Korea, which he found appealing for personal reasons as well. “Anytime I get an excuse to come back to Republic of Korea, I’ll jump at it, because I was stationed here in the military in the mid-80s for two years, and it was one of the best assignments I had in the Air Force, and my family had a wonderful time. And of course, like a lot of people, I’m concerned about cybersecurity and the potential for blockchain and related technologies to enhance cybersecurity,” he said.
Even with changing technologies, each person or group should approach the matter of security the same cautious way, according to Clapper. “[I]f you’re connected to the internet, no matter how, you’re vulnerable, and you may as well just accept that fact and do all the classical things that you can do, and even then assume you’re going to get attacked. And the big thing is how to respond to an attack, and the extent to which you are resilient, and this applies to a nation-state, an institution, a company, or an individual,” he said.
Clapper also finds blockchain technology interesting due to its applicability to a wide number of fields. “[Blockchain] has great potential for anything that involves transactions that are disaggregated, so medical, to financial, and [the] defense arena, it has great potential.”
He pointed out that so far, the government has not had much use of the technology for its operations. “We don’t use it very much,” Clapper said, explaining that “the government is always a little behind industry and technology. There are potentially great applications, not so much from an intelligence exploitation standpoint, as much as protecting information.”
Clapper warned that the U.S. government should be seriously exploring the use of blockchain. Implementation of blockchain-powered systems, he said, “better progress, because both the Chinese and the Russians are very aggressively pursuing blockchain applications.”
If you’re interested in helping the growth of merchant adoption of Bitcoin BCH, join the bComm Association, an industry group that intends to be the focal point for miners, merchants, exchanges, developers and members of the BCH community. Developers and merchants of the Bitcoin BCH community will also be on hand for the CoinGeek Week Conference happening in London on Nov. 28-30.
Tickets to the three-day conference are still available via Eventbrite.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
The post James Clapper: Blockchain has great potential for ‘disaggregated’ transactions appeared first on Coingeek.
CoinGeek’s Becky Liggero speaks to Riad Hartani of Xona Partners, who looks at how blockchain technology will impact markets across the world.
Even at such an early point in the history of blockchain, its real-world applicability is already being put to test by companies big and small. Yet to Riad Hartani, co-founder of tech firm Xona Partners, the potential for the technology’s mass adoption is particularly strong in Africa.
One present problem he sees is fundraising for small and medium enterprises. According to Hartani, “The whole process of raising money is very cumbersome, and basically difficult to put into practice. So this is a typical example, and with blockchain, you come up with a solution that facilitates all of that… Even if it’s a North American-developed technology, any advanced technology, teams and so on, but the first applications are in Africa, which is interesting.”
Xona Partners, according to Hartani, does three things to push blockchain technology: “We see blockchain as what we call a ‘leapfrog’ technology that just comes into markets and [is] given the opportunity to disrupt, basically. Solve problems definitely, one. Number two, since it’s new, basically the whole world’s probably at the same levels. You can take it, build it, and then go global with it. And number three, it’s mostly open-source, so the knowledge is very much accessible if you have talent. You can have access to it without any restrictions. So these three things make it very valuable for Africa and building technology ecosystems in Africa, in our opinion.”
Hartani sees the Transform Africa summit as part of the necessary gatherings among people that will make the technology thrive. “I see overall the value is really building this connectivity between people and ideas, and this is ideal. Because what is technology these days? Basically being able to be close to those that understand it and have it, right? So building that connectivity model between people and ideas is really the goal, and I think this event has been doing a lot of that. And meeting people from any part of the world that have that knowledge and keys to be able to work with them. So fundamentally, I see it as a way to basically get us closer to that, you know, ‘world is flat’ thing. We all work with each other,” he said.
If you’re interested in helping the growth of merchant adoption of Bitcoin BCH, join the bComm Association, an industry group that intends to be the focal point for miners, merchants, exchanges, developers and members of the BCH community. Developers and merchants of the Bitcoin BCH community will also be on hand for the first CoinGeek Week Conference happening in London on November 28-30. Members of bComm Association can avail CoinGeek Week tickets at discounted prices. Tickets to the three-day conference are still available via Eventbrite.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
The post Xona Partners’ Riad Hartani: First blockchain applications are in Africa appeared first on Coingeek.
CoinGeek’s Becky Liggero recently interviewed Healid founder Bert Kastel, who has helped spread the message of blockchain through organizing conferences such as the Transform Africa summit.
Bert Kastel has been a notable presence in the cryptocurrency community, working to exploit whatever beneficial uses the technology has. The company he founded, Healid, aims to maintain a large gene database powered on the blockchain, intended to best determine treatments for all manners of illness. The ambitious venture is just one of many that preoccupy Kastel. He also played a big part in organizing the blockchain conference in the Transform Africa Summit, held in Kigali, Rwanda.
Of the conference, he said, “It’s definitely a virtual enterprise, and of several organizations together. One is K Lab which is an incubator here in Kigali, and the other one, the Transform Africa team, which is organized by Smart Africa, and then our team that is also spread out in several continents, several individuals but we coordinated. We got the locals to develop most of the hands-on logistics and we put together the contents and got most of the speakers and all of this, and tried to pull it together so that there’s some energy injected into this conference by future technologies.”
Kastel describes Healid as ‘crypto-economic genomics.’ A mouthful even for a cutting-edge industry such as blockchain, but it is such high-mindedness that has guided him in looking at firms and organizations who could realize the potential blockchain has, in its various applications.
“I believe that technology drives human advancement, and I want to just identify technologies, and facilitate them if they advance humanity. So no borders, not a specific country or specific continent, but wherever humans get empowered and can fulfill their dreams. And that is very close to the blockchain world, at least the premises and the promises of blockchain, so that’s why it came very natural to me,” Kastel said.
If you’re interested in helping the growth of merchant adoption of Bitcoin BCH, join the bComm Association, an industry group that intends to be the focal point for miners, merchants, exchanges, developers and members of the BCH community. Developers and merchants of the Bitcoin BCH community will also be on hand for the first CoinGeek Week happening in London in November. Members of bComm Association can avail CoinGeek Week tickets at discounted prices. To purchase tickets or learn more about CoinGeek Week Conference, visit the official website here.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
The post Healid’s Bert Kastel seeks to fulfill blockchain’s promise—to advance humanity appeared first on Coingeek.
In the seven and a half years that Bobby Lee, a co-founder of BTCC, has been studying blockchain and cryptocurrencies, he’s learned that what happens in the industry is something that “no one has control over.” This keeps him from making predictions on the upcoming Bitcoin Cash (BCH) upgrade.
Lee noted that before the hard fork that led to Bitcoin’s rebirth in BCH in August 2017, “I was begging people not to fork it at the time. But it still forked. So that actually proves the fact that Bitcoin is quite decentralized, that no one can force it: no governments, not even people, regular people or miners, or there’s no decentralization in it to force it one way or the other.”
A self-proclaimed “Bitcoin maximalist,” Lee nonetheless concedes that both BCH and BTC can co-exist. “The best analogy is, it’s like religion. If you look at the world’s religions, there’s many, many religions. I don’t claim to be an expert here, but I think several of them trace back to the same roots.” He considers Bitcoin BCH and BTC as “legitimate children of Bitcoin.”
The primary value of cryptocurrencies, as he sees it, is that money is no longer about specific pieces of paper or lines of credit issued through a governing body. “Very few people realize that the essence of Bitcoin is that now information is money. So it’s not about something physically you hold, it’s not about having ownership under my title, under my name, for example, real estate. Even the car I buy, for example, is owned under my name, and the government enforces it. There’s a matching of my name and the asset—the real estate or the car… With Bitcoin, the ownership is actually proven not through physical means and not through title registration, by identity. But that should only be because you have information, you have the knowledge of the private key. So people don’t get that, and that’s fine because not everyone’s a computer scientist, not everyone’s an economist. So I hope to spread that message, that that’s the essence of Bitcoin, because now people can own Bitcoin by having that information.”
Blockchain’s part in history, according to Lee, “goes back to the fundamental rights as a human being, goes back to the word ‘freedom.’”
“Essentially, we’re not slaves, we’re not enslaved in society. Now how does slavery and freedom matter to Bitcoin? Well, if you think about it, the governments have enacted so much control over the money, essentially, people who have now made money are enslaved to the governments, because the spending restrictions, who they can transfer it to, how much they can receive, and also the value of the money, is also completely and arbitrarily controlled by the central banks through inflation, and so on and so forth,” he said. “Right now, we’re seeing that the value is highly volatile, so there’s a downside to it right now, because we’re in the early days. We’re barely in the tenth year of Bitcoin, but give it another 10 years, give it 50 years. I think it will be very important to the people of the world.”
It may be just the beginning, but we could already see a big change from just five years ago. Lee said, “I remember distinctly in 2011, even as recently as 2013, saying the word ‘Bitcoin’ into a crowd, no one would understand what you’re talking about. The idea of a ‘bit’ coin, a digital coin, that was just unheard of. So now, through years of pushing it in the media, finally the world knows about Bitcoin. They also know about the word ‘blockchain,’ they also know about the word ‘tokens,’ and so on.”
If you’re interested in helping the growth of merchant adoption of Bitcoin BCH, join the bComm Association, an industry group that intends to be the focal point for miners, merchants, exchanges, developers and members of the BCH community. Developers and merchants of the Bitcoin BCH community will also be on hand for the first CoinGeek Week happening in London in November. Members of bComm Association can avail CoinGeek Week tickets at discounted prices. To purchase tickets or learn more about CoinGeek Week Conference, visit the official website here.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
The post BTCC’s Bobby Lee: The essence of Bitcoin is that now information is money appeared first on Coingeek.
