To get enterprise level buy in to Bitcoin, you have to go to where big businesses are paying attention. Doing just that, Bitcoin Association Founding President Jimmy Nguyen recently went on Nasdaq’s Trade Talks show with Jill Malandrino and explained how the power of Bitcoin has been unleashed with Bitcoin SV (BSV).
As Malandrino noted, scaling is now the catchphrase when it comes to Bitcoin. Nguyen explained, “Bitcoin has never been allowed to scale the way it was always envisioned to do by Satoshi Nakamoto.” (0:30)
Malandrino then confused block size limits for the limited supply of Bitcoin, which Nguyen quickly corrected, but then went on to explain that block sizes being limited only holds the blockchain back. With no limit on block size, as BSV has now taken on as its driving strategy, there’s no limit on the number of transactions that can be processed, but also the added options to have tokens, smart contracts, bandwidth for the internet of things, supply chain management, and so much more. Nguyen explained the grand vision:
“All of the world of enterprise applications can be done on what we believe should be the single global public blockchain. Just like we operate on a single global public internet, it makes more sense to have one global public blockchain, Bitcoin and Bitcoin SV, rather than a world of 1000 blockchains, which makes no sense.” (2:05)
The interview then turned to regulation, an important dividing point in the cryptocurrency world. Nguyen told Malandrino that BSV is the regulation friendly Bitcoin. Everyone wants to avoid another potential QuadrigaCX scandal, so a proper application of existing laws, and new laws where necessary, can help the industry improve a lot.