Ritossa Summit: Bitcoin SV enables better data management for enterprises

“As an enterprise company, we chose to build on the Bitcoin SV blockchain for 4 reasons – security, scalability, stability and cost efficiency. We don’t find that in any other blockchain,” Stephan Nilsson told the audience at Sir Anthony Ritossa’s 13th Global Family Office Investment Summit in Dubai.

The founder of UNISOT was part of a panel discussing how blockchain technology enables businesses to build powerful applications and manage their data better. He was joined on stage by Simit Naik, the director of business services at nChain, GAP600 founder and CEO Daniel Lipshitz and Kal Suurkask, the vice president at TAAL Distributed Information Technologies Inc.

The panel, moderated by Bitcoin Association Founding President Jimmy Nguyen, delved into how their companies are using the Bitcoin SV blockchain. For nChain, the focus is enabling enterprise clients to build on the Bitcoin blockchain, Naik told the audience. He cited nChain’s partnership with EHR Data as a flagship project for the firm, allowing healthcare providers to make use of vast amounts of medical data.

“Recently we signed a deal with a country in the South Pacific. What we’re doing for them is digitizing their national currency. But we don’t just stop there. […] We’re also digitizing the whole registry services.”

Naik was referring to Tuvalu, an island country that’s poised to become the world’s first fully digital country, all on Bitcoin SV.

Bitcoin SV’s scalability and stability make it ideal for any enterprise that’s seeking to get ahead in the data-centric era, Lipshitz told the audience. He stated:

“When the clarity of Bitcoin SV came to fruition, it was very obvious that the most compelling option that would create interest from services that will create mass adoption would require absolute scalability and stability. This was predesigned in the Satoshi Nakamoto whitepaper and it’s what birthed this whole industry.”

BSV allows enterprises to verify data integrity at a micro-level, which no other blockchain offers, he continued. Once an enterprise is able to ascertain that the data it has is valid and has been timestamped, it’s able to monitor, assess and predict changes to its processes.

For TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC: TAALF), the focus is on tokenization, Suurkask revealed. Tokenization will open up plenty of new opportunities, with the real estate industry being the biggest beneficiary. Real estate companies will be able to sell fractions of their properties through tokens built on Bitcoin SV, opening up the market to investors who have been locked out for centuries.

While Bitcoin SV will solve many of the challenges enterprises face today, Naik pointed out that it’s not a golden solution to all challenges. nChain has been helping enterprises understand the challenges that Bitcoin SV can solve and helping them integrate the blockchain into their operations, he revealed.

Lipshitz concluded, “The whole Bitcoin SV approach is about solving existing business challenges. The promise of Bitcoin SV is to bring a massive amount of efficiency to businesses and enhance our lives.”

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