London Blockchain Conference: How businesses can leverage the BSV blockchain today

At the London Blockchain Conference, a presentation by Brendan Lee illustrated how the BSV blockchain could equip your business with a competitive advantage for life.

While most people think of Bitcoin as something to buy and sell, “Bitcoin is an always-on infrastructure layer,” Lee explained. This infrastructure layer runs at a low cost and even works offline for a while.

Lee encouraged the audience to consider Bitcoin as paper for receipts, a new form of cash with 2.1 quadrillion base tokens. These base tokens can be integrated by businesses for various use cases – making everything data-driven more efficient and secure. For example, each token can represent something of higher value, such as currency, coupons, tickets or certificates.

“Cash is a value transfer instrument … We can break that cash down into small amounts … We can tokenize every single piece of US currency in circulation today, and it will take less than 1,000 BSV … The key to understanding how to leverage Bitcoin in your business is understanding how it is used,” said Lee.

Start thinking of Bitcoin as something you use to add value to services

If implemented correctly, Bitcoin can help businesses without customers needing to hold or touch tokens. So we’re not talking about “something with crypto” here, where you first have to have an account on an offshore digital asset exchange.

Lee’s presentation focused on using Bitcoin without the hassle of so-called “cryptocurrencies.” Lee points out that Bitcoin is a distributed authority, and by using it, the software-level business infrastructure no longer needs to validate actions on its own server. Blockchain is the server, so to speak.

“The benefits of Bitcoin are realized more effectively as it is more deeply integrated into your application (…). If you start with a piece of Bitcoin and use it to start tracking the whole process, and then capture the result at the end, then the benefit of it shows through infrastructure and software,” explained Lee.

In other words: The more you use Bitcoin, the more you get out of Bitcoin!

Lee showed that Bitcoin tokens are programmable. That means we have Bitcoin as cash, as well as Bitcoin as a tool at the same time. Lee explained how companies could track and trace everything internally and regarding their customers and clients.

While this may sound astonishing to anyone who hasn’t been following what’s been happening on the BSV blockchain for the past few years, Lee tried to make it very simple. First, he recommended educational resources such as Bitcoin SV Academy to understand the utility dimension of Bitcoin. Second, Lee invited the audience to understand Bitcoin as an information commodity — a standardized, “rough material” to make something out of.

“The blockchain is the timestamps, and the ledger is what the timestamps index. Bitcoin is the unit of account used within that protocol on the network…This infrastructure layer is affordable for you to use. You pay zero dollars to set it up, and you pay one thousandth of a cent every time you use it, Lee said.

In addition to being very affordable, BSV Blockchain offers built-in security and privacy. Even though the transactions are published in the blocks, it does not mean that anyone can just track what you do with Bitcoin. Bitcoin at scale is becoming more private.

There is another “miracle” that Lee suggests – the more we use Bitcoin, the better Bitcoin will protect our data and digital infrastructure. Imagine Bitcoin continuously upgrading your security and privacy almost for free.

Three examples from Brendan Lee’s Elas service where businesses are already using Bitcoin

Lee’s presentation was an educational course. However, Lee not only explains Bitcoin’s true capabilities, but also shows three cases of corporate use of Bitcoin, which is happening now.

• Produce track and trace luxury consumer goods via the BSV Blockchain, assisted by Elas. Individual items are issued as Bitcoin tokens.
• Buzzmint tokenizes digital media, ticketing and more. The users of Buzzmint never see Bitcoins being used here.
• Tokenovate manages its derivatives are traded through the BSV Blockchain, while as with Buzzmint, users do not need to handle any Bitcoins. Bitcoin is simply an integral part of Tokenovate’s infrastructure.

Who is Brendan Lee and how can Elas run your business?

Brendan Lee is the founder and CEO of Elas and has played an important and multifaceted role in the BSV blockchain space for years. For example, one of his projects is to help the Tuvalu government become a paperless society using the BSV blockchain.

Lee also organizes Craig Wright philosophy courses with Joel Dalais from MetaNet ICU. If you’d like to join the upcoming classes, feel free to sign up or check out the past episodes, which are publicly available on this YouTube playlist.

With his team at Elas, Lee offers highly flexible solutions for using the BSV blockchain in a business – whether it concerns end users and clients, or for any internal data processing needs.

See: Turbocharger Philippines’ digitization via blockchain

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New to Bitcoin? Check out CoinGeeks Bitcoin for beginners section, the ultimate resource guide for learning more about Bitcoin – originally envisioned by Satoshi Nakamoto – and blockchain.