The inaugural BSV Global Blockchain Convention, which will be held at the Grand Hyatt, Dubai in the United Arab Emirates (UAE) on May 24 to 26, has announced its roster of 134 speakers composed of key experts, executives and industry leaders.
“It’s like Woodstock coming to these conferences, that’s how influential this technology is going to be and it’s going to change so many things… I hope we educate these big consulting companies so that they understand what this technology can do so they in fact become evangelists for us when they are brought in to solve technical problems in big data,” BSV Global Blockchain Convention producer Calvin Ayre said.
Included in the roster are certified rock stars in the industry 5G World Alliance Chair and IPv6 Forum President Latif Ladid, Rad NFT Co-Founder and CEO Tony Mugavero, Rad NFTV Chief Marketing Officer Brooklyn Earick, Ejad Labs CEO Arzish Azam, Seventy7Ventures Co-Founder and CEO Michael Jacobsen, and nChain Chief Scientist and author of the Bitcoin white paper Dr. Craig Wright.
Hosted by Jimmy Nguyen, founding president of Switzerland-based Bitcoin Association that advances the enterprise adoption of the BSV blockchain, the Convention aims to let the world recognize the real value of a scalable blockchain.
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Since its inception, BSV, which stands for Bitcoin Satoshi Vision, has been committed to realizing the vision of Bitcoin creator Satoshi Nakamoto who has always maintained that Bitcoin needs to scale in order to survive. Upon restoring the original Bitcoin protocol in February 2020, BSV has unlocked the ability of its blockchain for limitless scaling.
As the network scales, data blocks and throughput are enhanced, while fees per transaction are continuously lowered. This makes the BSV blockchain ideal for enterprise and government adoption as it can handle increasingly massive amounts of data at a very low cost.
To put it more concretely, it is best to compare it to popular blockchains Bitcoin Core (BTC) and Ethereum (ETH). BTC has a block size cap of 1MB, a maximum throughput of just seven transactions per second (tps) at a current average fee of $3.53 per transaction, while ETH processes 45 to 70 tps at $8.07 per transaction.
BSV, on the other hand, is already completing over 10 million transactions in 24 hours, and this accounts for about 78% of all blockchain-based transactions around the world. The block size hard cap has been increased to 4GB at 50,000 to 100,000 tps with fees of tiny fractions of a cent.
And this is just the beginning. As BSV continues to scale, terabyte-sized blocks and millions of tps at transaction fees that amount to almost nothing are all real possibilities in the future. This is the edge that limitless scaling provides BSV over other blockchains.
Why the UAE?
The UAE is one of the countries that is known for embracing blockchain and other emerging technologies. In fact, the UAE government has issued a directive that states that the desert nation should have over 50% of all government transactions on the blockchain by the year 2030.
The UAE is giving importance to being 10 years ahead of its time and becoming a global technological leader that is at the center of the fourth industrial revolution and will usher in the fifth. With this national mindset, it was not difficult for the UAE to recognize the powerful capabilities of the BSV blockchain, making it the perfect venue to hold the first-ever BSV Global Blockchain Convention.
“All those things combined in both the UAE and the rest of the MENA region make for a very strong government directive to embrace all kinds of emerging technologies, for which blockchain is the data infrastructure that will underpin not just better financial systems but AI, IoT, device management, robotics, autonomous vehicles, smart cities, smart community technology,” Nguyen explained.
Recently, Bitcoin Association has also formed a partnership with the University of Sharjah in the research and development of an academic certification and validation platform. Spearheaded by Dr. Mohamed Al Hemairy and Dr. Manar Abu Talib from the University of Sharjah, the project aims to resolve the pervasive problem of fake academic credentials and integrate the national process of attestation.
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“It can be very complicated and time-consuming for students, job seekers and the government to verify employees when they apply for a job and submit their academic credential and certificates. We are trying to make this a universal framework that can be work for everybody, and it will be open to any institution to join the network… it will be like an authentic reference for anybody who wants to verify their academic certificate,” Dr. Al Hemairy revealed.
Finding a solution to fake degrees through a blockchain-based platform is but one of the many uses that a scalable public blockchain can provide. With scaling comes real value and utility, and this is what the BSV Global Blockchain Convention will demonstrate.
To those who cannot personally attend the Convention in Dubai, the three-day event will also be broadcasted live on its website. This is done in the spirit of inclusion and in being able to create greater awareness of the tangible benefits of a scalable blockchain.