The very first CambrianSV bootcamp was hosted in the tranquil setting of Ubud, the spiritual heart of Bali and, dear reader, I was invited.
Participants travelled from the four corners of the planet to attend Cambrian, each with their own personal objectives and goals. The collective mission was to increase transactions on the bitcoin SV blockchain. The bootcamp was a heady mix of side chats, interviews, workshops and pedal to the metal coding. For some it was the first time they had met their fellow team members, while others were more established players.
So, how did I manage to get an invite Cambrian? Long story .. but I'm going to give you the short version! I've been following blockchain technology for a few years, with a specific interest in Bitcoin. I've been observing from the sidelines for a while, and over time, coming to an understanding of the terms and technology and capabilities of blockchain and bitcoin.
For a long time I was underwhelmed, it seemed no public blockchain was capable of fulfilling the potential that had been espoused by so many. Worse than that, the market as a whole had been infected by scams, misinformation, and deceptions. Just when I thought everything was dead, and a waste of time a mysterious and super talented developer known as @_unwriter arrived on the scene. Unwriter helped illuminate the art of the possible through his writing, and also provided the tooling necessary to implement that vision. Before I knew it I was down the same rabbit hole that Alice (and no doubt Bob) had ventured down. Ideas of bold new systems of the world had filled my head, I could see uses for bitcoin and blockchain everywhere, thoughts and ideas percolated through my brain, sleep was lost, I was obsessed.
Having established a good understanding of the tooling provided by unwriter I was looking for a way into blockchain development when Cambrian was announced. My brother and I had been brainstorming ideas blockchain ideas for a while, and put forward BitPocket. We had assumed that there would be little chance of making the cut ...
Our proposal was to create a mobile tasking application allowing tasks to be created with a financial reward, assigned to friends / family, then rewarding them for completion of a task. A simple proposition. When the email arrived saying that we'd been accepted we were both ecstatic, for a few hours at least, until the realisation dawned that we had four weeks to get something built quickly that could demonstrate the basics of our proposal.
What is Bitcoin SV?
Well, it’s just bitcoin. Or, so as to avoid confusion, it's Bitcoin as it was always meant to be. The SV in BitcoinSV stands for Satoshi's Vision and indicates the direction of this bitcoin implementation, to undo all the tinkering that has crippled Bitcoin Core($BTC) and return bitcoin to the original vision, whilst simultaneously scaling the bitcoin blockchain so that its ready for enterprise and indeed global use.
The above image shows the history of the bitcoin protocol over time in comparison to the bitcoin name, which has been held by the $BTC ticker despite it now not resembling the original bitcoin protocol and being close to useless for peer to peer transactions.
My interest in Bitcoin SV comes from an enterprise perspective. For bitcoin and blockchain to succeed it must scale and show stability at scale. There is a reason that, despite the overwhelming hype, Ethereum was not embraced by enterprise. The reason is simple, and that is because the Ethereum network struggles when over-worked. It simply does not scale. Bitcoin SV is actively pushing the scaling envelope, with a current maximum blocksize of 2GB per block, with miners setting softcaps at limits they support, allowing them to scale in line with demand. On the test network setup to test scaling, the BSV bitcoin client has achieved a block with a whopping 1.6million transactions. The increased throughput of transactions through scaling keeps transaction fees low, whilst allowing minors to make a profit, which in turn sustains the feasibility of micro-transactions.
A compelling workable solution to micro-transactions enables a whole new set of business models as yet unimagined. The plan is to remove all artificial scaling caps from bitcoin as part of the Genesis upgrade due early 2020. With the core protocol locked down, and if Bitcoin SV can be proven to scale beyond the often quoted VISA 24K transactions per second, then it seems inevitable that Bitcoin SV will be set to become the public blockchain of the world. So, pretty decent foundations for a developer to build on!
Bitcoin SV has the developer tools and platform to allow enterprises to start experimenting with the blockchain. There are real world solutions that can be built on top of this technology that will drive efficiencies in areas such as supply chain, records management, provenance tracking, and EDI. The Bitcoin SV blockchain is publicly available and open to experimentation. I encourage enterprises to take a fresh look at blockchain, and indeed Bitcoin SV.
Cambrian was a truly intense week of learning, discussion, and coding; all driven by a sense of optimism and purpose. The BitPocket team achieved the goals we had set for ourselves, and learned more about Bitcoin and blockchain in a single week than anyone thought possible. For now, work on BitPocket goes on, and research into Bitcoin and blockchain continues.
Office365 Consultant / Eternal Student / Researching Bitcoin
Craig has worked in the SharePoint and Office365 space for the best part of 20 years. In his spare time he researches Bitcoin(SV) to understand the the potential impact a public blockchain will have on the world of enterprise and society in general.