BSV Blockchain Meetup Manila highlights utility of BSV enterprise blockchain

The BSV Blockchain Meetup has made its way to Manila, where government officials, enterprise executives, startup founders, Bitcoin experts, and blockchain enthusiasts all came together to discuss the latest developments in the digital currency space

By: Easy Branches Team - Guest Posting Services

Oct 13 2022
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BSV Blockchain Meetup Manila highlights utility of BSV enterprise blockchain

Digital Asset Recovery process has use cases far beyond simple theft

WHAT’S GOING ON HERE?

Today, one of the biggest assumed truths of digital currency has been dispelled: Bitcoin is recoverable!

WHAT DOES THAT MEAN?

With the new Digital Asset Recovery Toolset by BSV Blockchain Association, users with a court order establishing the ownership of their stolen digital assets can use a designated Notary entity to translate the court order into a machine-readable format that can be transmitted and interpreted by the mining network. The tool doesn’t give anybody any legal rights they don’t already have but provides a mechanism by which those rights can be enforced over digital assets, paving the way for digital assets to finally be embraced by government, enterprise, and law enforcement. Other potential use cases of the Digital Asset Recovery toolset include proving digital asset inheritance, preventing corporate sabotage, sanctions enforcement, proceeds of crime, and recognizing ownership of stolen NFTs.

WHY SHOULD I CARE?

Digital currency users mostly likely heard of the phrase “Not your keys, not your Bitcoin,” especially with the digital currency population in the popular social media platform Twitter. With the help of the Digital Asset Recovery Toolset, lost and stolen properties like Bitcoin and NFTs can be easily identified and returned to their rightful owner. This process is now near-automatic thanks to this groundbreaking new mechanism.

Read full storyBSV Blockchain Meetup Manila highlights utility of BSV enterprise blockchain

WHAT’S GOING ON HERE?

WHAT DOES THAT MEAN?

As the Philippines continues to gain prominence as one of the global blockchain and digital assets hubs in Southeast Asia, interest has been growing in digital assets, the metaverse, NFTs, and blockchain space, thanks to the country’s young, tech-savvy population. The BSV Blockchain Meetup Manila brings together groups, leaders, and operators in this rapidly-growing industry to talk about the utility of blockchain technology beyond speculation. At the meetup, big names in the blockchain and enterprise scene presented their unique ideas about the industry. One of them is Cathy Casas from the UnionBank of the Philippines, a digital bank that delved into blockchain way ‘before it was cool.’ Head of Growth Marketing of the mobile wallet GCash Lorenzo Canaria was also present, sharing how he thinks blockchain could be integral for the growth of financial technology in the country. Government representatives like DICT’s Carlos Albornoz also joined the meetup, noting that the government is surprised with the number of local blockchain initiatives in recent times.

WHY SHOULD I CARE?

The successful BSV Blockchain Meetup Manila didn’t just showcased the capabilities of a massively scaling public blockchain, it was also filled with discussions about the BSV ecosystem — focusing on the network’s stability, scalability, security, and safe, instant transactions. The BSV blockchain’s power to record volume of Bitcoin transactions (which reached over 35 million last September) is sure to play a huge role in the continued development of the blockchain industry in the Philippines.

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“Without BSV, we couldn’t do the micropayments, we couldn’t charge as little as we charge, we couldn’t take the penny of someone seeking knowledge and divide it 70:30 where we get the minimum, and the wordsmith gets the 70%. In a way, there was [no other network] that we could use. ”
- John "Jack" Pitts, SLictionary Founder

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