
<p>Businesses are constantly seeking innovative solutions to enhance security, transparency, and efficiency in their operation &#8211; and are increasingly looking at blockchain as the answer.</p>



<p>Blockchain offers a wide array of applications across various sectors. From supply chain management to financial services, healthcare, and beyond, blockchain provides a decentralised, tamper-resistant ledger system that offers a myriad of opportunities for businesses to streamline their processes, reduce costs, and build trust with their stakeholders.</p>



<p>In this era of digital transformation, leveraging blockchain technology has emerged as a compelling strategy for forward-thinking organisations to gain a competitive edge and foster a more secure and efficient future. Leveraging blockchain in your business was expanded upon in more detail by <a href="https://www.linkedin.com/in/brendan-lee-8494b735/" target="_blank" rel="noopener nofollow">Brendan Lee (Founder and CEO of Elas)</a> at the recent <a href="https://www.bsvblockchain.org/news/successful-london-blockchain-conference-showcases-the-power-of-the-bsv-blockchain" target="_blank" rel="noopener">London Blockchain Conference</a>.</p>



<p></p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="How enterprises can leverage blockchain today | Brendan Lee | #LDNBlockchain23" width="500" height="281" src="https://www.youtube.com/embed/jT2LgdUlawA?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
</div></figure>



<h2 class="wp-block-heading" id="h-the-confusion-between-bitcoin-and-blockchain">The confusion between Bitcoin and blockchain</h2>



<p>Lee began his presentation by explaining how Bitcoin works as a peer-to-peer electronic cash system. He added that cash is a value transfer instrument., and that this could be described as a new form of cash, which can be transferred instantly between parties in any part of the world at a very low cost.</p>



<p>&#8216;This cash can be broken down into minuscule amounts​. Each of the 2.1 quadrillion base tokens can be used to represent something of higher value​ such as currency, vouchers, tickets, certificates​,&#8217; he said.</p>



<p>Using this understanding of electronic cash as a basis, he noted that the key to leveraging blockchain is understanding how it is applied​. &#8216;The benefits of Bitcoin are realised more effectively as it is more deeply integrated into an application​. You can start small but also think big​.&#8217;</p>



<p>Lee pointed specifically to the security and privacy benefits which blockchain offers businesses and how it can replace processes currently handled by secure compute modules​.</p>



<p>‘Most people think of Bitcoin as something you buy or sell​. Start thinking of Bitcoin as something you use to add value to services​.’</p>



<p>‘Your customers don’t need to buy, own, hold or touch Bitcoin if that’s not part of your business model​. Think of Bitcoin as paper for receipts​. $0.0000005 worth can be used to represent items worth any amount.​&#8217;</p>



<p>Lee also gave businesses an overview of how to start working with Bitcoin. &#8216;The design strategy should be about looking to push functions down to the Bitcoin layer. The benefits become more apparent the more you push to the network​,&#8217; he said.</p>



<h3 class="wp-block-heading" id="h-the-bsv-blockchain-and-businesses">The BSV blockchain and businesses</h3>



<p>The BSV blockchain is not like other public blockchains &#8211; it is by an order of magnitude the most scalable and efficient blockchain in the industry.</p>



<p>With its large block sizes and low transaction fees, it ensures that companies can handle a vast volume of transactions and data without worrying about network congestion. Additionally, its stable protocol and commitment to a fixed block size create a reliable and predictable environment, essential for enterprise-level applications</p>



<p>BSV&#8217;s focus on data management and security is another key advantage, enabling businesses to store, manage, and verify vast amounts of data in a transparent and immutable manner. Furthermore, its commitment to regulatory compliance and industry standards fosters trust and legal certainty.</p>


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