The BSV blockchain offers unparalleled scalability, robust security, significantly reduced transaction costs, and other unique features, which makes it the perfect technology to meet companies’ needs today and prepare them for success tomorrow.
This was one of the key findings of a new report by the BSV Association focusing on the role of blockchain in safeguarding data and streamlining transactions. The report highlights how blockchain technology opens a window on trust.
Using it, enterprises can see clearly where data originates, where it has travelled, and how it has changed along the way. Blockchain’s transparent, secure, and immutable digital ledger establishes reliability and confidence that a business’s devices and data are working as they should.
With the BSV blockchain’s robust and scalable architecture, these diverse projects illustrate just the beginning of what’s possible. For enterprises in every sector, the BSV blockchain’s innovative platform supports applications in AI, IoT, and more.
As these projects proliferate, increasingly demonstrating the power of the BSV blockchain, they open a world of possibilities for companies looking to blockchain technology to drive their digital transformation and solve complex business challenges.
Finance
Centi B2B Solutions uses the BSV blockchain to simplify stablecoin transactions. Centi commands strong trust from the market, with companies like Payrexx trusting Centi to handle transactions of its 50,000 clients. In addition, Centi has enrolled more than 250 merchants and recently achieved a milestone by processing more than one million micropayments in just 24 hours, each transaction amounting to one cent.
BSV’s platform uniquely supports financial applications, like Centi, that require scalability and compliance compatibility. The business benefit is being able to process large volumes of small transaction sizes, as small as one cent, with low transaction fees at scale.
‘For Centi, scalability is the most crucial element. And yes, this may also be achieved with Proof of Stake (PoS) protocols like Solana. But besides scalability, it was crucial for us to build our services on a protocol that has a granted legal classification as currency since otherwise, Centi’s business cases might be at risk when the underlying token is classified as a security. (…) Given the current landscape, only Bitcoin Cash and BSV can do so. We decided to go with the latter since it offers unlimited scaling as well as higher chain activity.’
Internet of Things
Rekord IOT is a hardware monitoring and analytics solution for IoT infrastructure, which uses the BSV blockchain to streamline data management and security for IoT devices, addressing key issues in scalability and interoperability.
The project has attracted significant funding and interest from major clients, highlighting its potential to transform IoT infrastructure on a large scale. A key business benefit is the storage and encryption of data from IoT sensors, which increases trust, integrity, and security of IoT-generated data.
‘Rekord has shown us where blockchain can add value within the work we do, integrating new technologies as we advance the rollout of Industry 4.0. Within Industrial IoT, we deal with huge amounts of data, so all solutions need to be highly scalable. We understand through Rekord that BSV is a distributed ledger technology that can provide the functionality and features our clients are looking for.’ – Trent Industries
Supply Chain
Gate2Chain is a company building enterprise solutions which employs the BSV blockchain to increase transparency and efficiency in supply chain operations and solve traceability and security issues.
For example, its BSV blockchain-based platform Trace is designed to combat fraud and counterfeiting in the supply chain by providing digital twins and certification. The initiative has formed partnerships with large multinational corporations, including a significant collaboration with IBM in Poland, showcasing its capability to revolutionise supply chain management through innovative blockchain integration.
A key business benefit offered by the BSV blockchain is a transparent and immutable audit trail of supply chain-related activities, for improved data trust and security.
‘The first reason why we chose BSV is the stability of the protocol. BSV is working with a locked protocol. We need stability in the protocol; otherwise, we need to change (our applications) all the time. The second reason is that we need scale. We work with retailers, where you need to record every delivery, and every return, and map every relationship with suppliers, which equates to millions of transactions each year. Thirdly, we need to scale at an affordable price. We cannot pay the high fees of the rest of the protocols. Now our gas fee is so cheap, we can meet the level of scalability our customers need at affordable cost,’ said Bart Olivares (CEO at Gate2Chain).
‘We believe that a solution such as Trace can drive trust and traceability across all industries. Trust and traceability are becoming more and more important as the world pushes for more sustainability and a circular economy,’ said Dr Agata Slater of IBM.
Invoicing, Storage and Identity
MintBlue, on the BSV blockchain, offers a scalable infrastructure for building and managing blockchain applications. Its largest customer, Visma | Yuki uses MintBlue for e-invoicing. MintBlue also works with the Dutch Chamber of Commerce to explore instant tax payment solutions. MintBlue successfully processed 50.5 million transactions in a single day at a cost of only €400, with each transaction containing a simulated document.
‘We believe that UTXO architecture (BSV’s architecture) is more suitable for real-world enterprise solutions that need to be compliant and private and support commercial scale without offloading workload to other systems. Secondly, BSV is a public protocol with the mandate to keep it set in stone. This gives me confidence in selling solutions using the protocol because I know it will always work as intended. All other blockchain protocols have the opposite mindset. In short, BSV innovation happens ON TOP of the protocol. All other protocols innovate by working INSIDE the protocol, changing the rules and creating an uncertain base layer for organisations to build upon,’ said Niels van den Bergh, CEO at MintBlue.
‘With an increase in invoice fraud and other security challenges, it is important to be able to rely 100% on incoming invoices. With MintBlue, we are taking a big step towards achieving our goal; a 100% automated accounting system. MintBlue’s SDK took care of 90% of the solution,’ said Jeroen van Haasteren, CTO at Visma | Yuki.
‘Powered by mintBlue, the Dutch Tax Office built a plug-in that connects bookkeeping systems and connected POS devices to an encrypted ledger. This enables business owners to share transactions in real-time, making tax reports as easy and effortlessly as possible.’ – Published use case report by the Dutch Tax Office.
Gaming
FYX Gaming is at the forefront of merging Web3 benefits with traditional Web2 gaming experiences through the BSV blockchain. The company’s FYX Gateway product allows seamless asset exchange among different gaming platforms. The flagship game, CryptoFights, showcased more than 10 million transactions per day on the BSV blockchain. This highlights the business benefit of trading and monetisation of in-game assets and diversifying revenue streams.
‘Choosing BSV as our blockchain platform was an initial strategic decision driven by its exceptional scalability and low transaction fees, which enable us to subsidise gas costs for our users, enhancing their gaming experience. Additionally, the BSV blockchain’s robust tooling, including a ready-to-use marketplace, and the cost-efficient on-chain storage capabilities for assets like NFTs, make it ideal for FYX Gaming’s needs,’ said Adam Kling (CEO of FYX Gaming).
XR Metaverse
Using the BSV blockchain, Transmira developed its Omniscape platform which monetises XR (augmented reality and virtual reality combined) for spatial computing and experiential marketing. Immersive XR paired with blockchain helps to engage fans, expand customer base, and drive sales.
‘There’s only one blockchain that can handle this: it’s the BSV blockchain. BSV is fast, it’s scalable, it’s very inexpensive, and it gives us the security, trust and verification we need,‘ Robert Rice, CEO of Transmira.
Ticketing and Events
At its latest event in Hong Kong, ComplexCon, a series focused on pop culture, music, art, fashion, food, and technology, gave its attendees superior experiences with an app powered by BSV’s blockchain and built by BSV’s partner nChain. Users could import their tickets into the app, turning them into digital collectables that granted them access to exclusive perks such as merchandise, artist appearances, and exclusive drops.
‘At the event, guests were able to register their tickets for a digital version minted on blockchain. This then allows us to process gift redemption efficiently and securely on-site using the event app. We see the potential of offering future benefits to these inaugural edition digital ticket holders, and we won’t be surprised if the anticipated future stream of benefits will be valued by the market, resulting in the active trading of these digital tickets on open markets. This will transform the fan experience from a series of unconnected one-offs to a deeper engagement that keeps rewarding the most active fans.’ – Bonnie Chan Woo, CEO of Complex China.
Tokenisation
Tokenovate, built on the BSV blockchain, streamlines the creation and management of digital tokens for businesses. It addresses the need for a more accessible and scalable tokenisation process, allowing companies to issue, manage, and trade digital assets at an affordable cost.
‘It’s unrealistic to think about building a smart contract trading platform or a lifecycle engine if every event in processing costs me, you know, $1.50 or $2 more. Ultimately, that isn’t a proposition that I can take into the traditional finance market. It would be too cost-prohibitive to run on a digital ledger technology with high transaction fees and low throughput. So, the BSV Network is bringing scalability. It brings affordability.’ – Richard Baker, CEO of Tokenovate.
