Jimmy Nguyen stands as the Founding President of the Bitcoin Association. Nguyen has recently gone to the 13th Global Family Office Investment Summit in Dubai, presenting a keynote that highlighted blockchain technology’s importance in environmental protection and sustainability.
Nguyen: BSV Already Proving Sustainable
In particular, Nguyen highlighted a number of applications built within the Bitcoin Satoshi Vision (BSV) blockchain, which boasts an impact on decision making and data collection in the sector already.
A prime example could be RecycleSV, using data to create various incentives for individuals to take part in more recycling efforts of waste products. Recyclables can be scanned by way of the mobile up through a QR or barcode when the user drops it off.
This allows the users to keep track of exactly how much waste they are recycling, allowing them to receive tokens, earn points, and even gain a small amount of BSV. All of this can be done in exchange for recycling, with the more recycled, allowing for more to be earned.
Singapore’s Blockchain Traffic Control
These applications are extending to national levels, as well. Singapore, in particular, already boasts a traffic monitoring system in development.
Through the use of blockchain technology, the city-state plans to record the data of 4 million-plus journeys made every day, with a yearly total journey amount totaling at 1.6 billion. The data itself gets collected, covering the distance traveled, occupancy levels, the emissions generated, and the number of cars.
This, in turn, allows for an equitable system to charge consumers based on usage, as well as enhancing the resource planning of the country. The application already allows its users to manage congestion in the traffic, with future plans revolving around offsetting emissions in a more effective manner. The plan to do so involves accurately charging users for the distance they traveled.
Through these technologies, governments are gaining greater levels of insight thanks to the data it collects. However, as the governments of the world integrate more systems into blockchain technology, significant improvement opportunities will present themselves, allowing public outcomes and systems to become even more efficient.
Nguyen: BSV Is The Only (Bitcoin) Blockchain That Could Work
Nguyen spoke some bold words from there. According to the Founding President of the Blockchain Association, no other Bitcoin platform is capable of handling the economic and technical demands of high volume, except for BSV.
He claimed that these apps are thus best handled on the blockchain. He highlighted that the BSV network could operate on a 50K transaction a second scale, boasting that BSV holds the functionality and technical capacity to handle such a load.