Elon Musk might be at CoinGeek NYC; he has already received a formal invitation to the conference from Dr. Craig S. Wright.
Musk previously said that he and Tesla are interested in blockchain networks that consume a fraction of the power that BTC uses and that can handle substantial amounts of what he calls “human transactions.” As it is now, BSV fits the bill since it is the world’s largest public blockchain by all major utility metrics such as data storage and daily transaction volume, scaling ability and average block size.
Tesla’s (NASDAQ: TSLA) mission is to accelerate the world’s transition to sustainable energy; but if reducing energy consumption and unlocking the opportunities that come from having scalable infrastructure were truly the goal, then Tesla would not have purchased BTC. BTC is neither energy-efficient nor scalable in its current form, however, these goals that Tesla and Elon Musk are looking to achieve can be accomplished on the BSV enterprise blockchain.
“Bitcoin SV is capable of massive on-chain scaling at its base layer while using less than 1% of the energy that BTC currently uses. Scaling also means that transaction fees are so small that the average user won’t know they exist, and on the BSV blockchain, transaction fees stay small regardless of the volume of transactions on the network, which opens up a world of opportunities for businesses and governments,” Dr. Wright said.
Tesla has a business model that could be optimized with BSV in a way that benefits its bottom line while increasing efficiency and creating new market opportunities. For instance, a public, timestamped, immutable shared source of truth—the BSV enterprise blockchain—can be used by all of the electric vehicles on the road to communicate with one another. This data could be leveraged to optimize the self-driving features that many electric cars being created today currently have.
The self-driving example from the automotive industry is just one of the many ways in which blockchain technology could be implemented to improve an experience by aggregating the data that helps engineers create systems. Any industry that manages data in large capacities could benefit and cut costs by using the BSV enterprise blockchain as a data management layer.
“How about tokenizing a digital twin of every Tesla on the road so that it could interact economically with other assets throughout smart cities. The vehicles could engage in secure swaps on data, each vehicle’s history could be updated every time it passes a service interval or has another sort of event that impacts its resale value for public proof of history. The blockchain could provide an auditable attestation of your supply chain to show its ecological footprint for customers and investors,” Dr. Wright said when he named a few of the various ways Musk’s companies could benefit from blockchain.
Tesla, Elon Musk and Bitcoin (BSV)
BSV is objectively in line with Tesla’s mission, the BSV blockchain is energy efficient, has no block size limit, and is currently the blockchain of choice for many governments and enterprises around the world that are creating solutions that reduce inefficiencies.
Elon Musk knows that blockchain technology will lead to a greener future for everyone but many people are confused at why Telsa added an energy-inefficient and resource-intensive asset in the form of BTC to its balance sheet.
At CoinGeek NYC, which will take place on October 5-7, Elon Musk can set the record straight about Tesla’s mission and learn how blockchain technology can align with their environmentally friendly brand. Nobody knows what Elon will do, but hopefully, we will see Musk in New York this October.
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