Blockchain Social Manila: Connecting industries through blockchain technology

Global industries, while varying in terms of the products and services they offer and the society they serve, are looking for exactly the same thing – powerful technology that actually has real-world use cases.

In October, CoinGeek hosted a networking event at the Manila House Private Club in Bonifacio Global City, where thought leaders from the Bitcoin SV (BSV) blockchain ecosystem, along with notable industry players, stakeholders and investors, gathered to talk about blockchain technology and why it becomes extremely important as countries fast track their digitization.

Blockchain in a nutshell

Brendan Lee, founder of Elas Digital, as well as training development manager for BSV Academy, is flying all the way from Australia, and had a simple question for the participants: What does blockchain do?

“I think so much of the focus of the core innovation that is in the system has been lost in this speculative marketplace,” Lee said, referring to the volatility of the “crypto” industry, which has seen groups fighting over which digital coin is superior. the others while forgetting the importance of the need for utility.

He went on to say that blockchain is specifically designed as a system that is instant, cheap, environmentally friendly and has the superior ability to encode “just about any type of activity that you have”, qualities that are already present in BSV since it was envisioned itself and put into the paper by Satoshi Nakamoto in 2008.

Drawing examples from his projects at Elas, Lee said his team integrated blockchain into the track and trace industry and, using NFCs, created a solution that allows consumers and businesses to track where packages are opened in the supply chain. In addition, Elas has found means to order and track deliveries of heavy materials to the construction sector and sell digital content to people using blockchain.

“We’re really replacing the role of paper in all these different industries, and in the process, making these industries run faster, smoother and more efficiently within a system that provides long-term traceability and auditability of all these business activities,” he noted.

Rounding out what blockchain is, Lee said the technology – considered to be the future of the Internet – acts as a verifiable system of record.

Why BSV?

In early September, transactions within the BSV blockchain hit a record high of over 35 million in a 24-hour period, a development Lee says will continue to improve in the future as BSV works on the scaling process before moving forward to create world-changing use cases.

“We want to be able to process a thousand transactions per person in the world without breaking a sweat,” he said. “We’re aiming for that within less than a decade.”

When asked what transactions mean for businesses, Lee explained that these transactions are records of events that occurred in a particular business.

“Everything you see that you need to know happened can be captured in a transaction,” Lee said.

Event host Stephanie Tower also opened the floor for attendees to ask questions related to blockchain and emerging technologies, with TAAL (CSE: TAAL | FWB:9SQ1 | OTC: TAALF ) CEO Stefan Matthews seizing the opportunity to ask Lee what is BSV’s edge compared to other blockchain technologies on the market.

The BSV blockchain is the only blockchain technology that runs the original Bitcoin protocol, Lee replied.

“It follows the design outlined in the (Bitcoin) white paper and it scales in line with Satoshi’s original vision, which was that this is a system that can go far beyond any current payment system that we have today,” he said, adding that BSV is “very, very cheap” and on “very raw material”.

Lee also noted that the BSV blockchain was built using established techniques and technologies.

“This is the system that will support you in your business endeavors,” he added.

For his part, nChain country director for the Philippines Nick King said the team’s professionalism makes BSV attractive and sets it apart from existing blockchain technologies.

“They go for the corporate market; they go for the public market; they are a true technology company. They are not a “get rich quick bunch of scammers,” King said during his brief speech.

See: BSV Blockchain Meetup Manila Highlights

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