The number of applications built on Bitcoin SV is steadily growing, as more developers and businesses leverage the network’s low fees and massive scalability. At the inaugural Bitcoin SV DevCon virtual event, the founders of Money Button, Codugh and Tokenized joined Brendan Lee to talk about how their services are being utilized by the Bitcoin ecosystem, their unique features and what the future holds.
The last session for #BSVDevCon 2020 features @Tokenized_com CEO @JamesBelding, @money_button CEO @ryanxcharles and @Codugh CEO Shashank Singhal, discussing how their apps help developers streamline development.
Live now: https://t.co/CXHRmR57uz#BSV #BitcoinSV #Blockchain pic.twitter.com/FeSNM6vXNL
— Bitcoin Association (@BitcoinAssn) July 19, 2020
For Codugh’s Shashank Singhal, his interest in blockchain technology dates back to 2016. While he and his fellow cofounder Andrew Snow built briefly on the Ethereum blockchain, its inability to scale proved to be a hindrance.
“We need a blockchain that can handle a large volume of transactions. We’ve seen from apps like WeatherSV that BSV can handle massive transactions on-chain. Low fees on BSV allow for micro transactions which is essential to us. The dedication to a stable protocol means we can be certain that we won’t encounter any big changes or struggle in the future.”
Money Button has become one of the most popular wallets in the Bitcoin space, but as founder Ryan X. Charles revealed, it’s more than just a wallet. Charles delved into some of the advanced features and how developers are exploiting them to develop their platforms.
Money Button now boasts of over a million button swipes and is now integrated into more than 150 active applications. Some of the renowned apps using Money Button include Twetch, Cityonchain, and PowPing. Charles singled out Baemail for its innovative use of Money Button, being the first app that made use of the advanced features such as the encryption of data inside a Bitcoin transaction.
Despite the platform’s immense success, Charles believes that Bitcoin apps—Money Button included—are still very niche.
“I don’t think we’ve reached a mainstream audience yet. We still have a long way to go to reach a genuinely mainstream audience. That’s why we spend a lot of time worrying about user experience because we want to ensure that ordinary end users can use the app.”
Tokenized CEO James Belding concurred with Charles, pointing out that we are just scratching the surface of what’s possible with Bitcoin. Belding remarked, “I think the concept of smart contracts has barely been touched in terms of where it needs to go to become a mainstream competing product.”
Tokenized allows users to tokenize any ownership certificate, from high value assets like stocks and bonds, to loyalty points, tickets and gym membership.
The three founders also shared the advanced features their firms have been working on. Money Button’s invisible button has opened up a world of possibilities, allowing app developers to customize the user experience. Codugh has been in a closed beta, with Singhal calling on developers to sign on to the waitlist. The wider release is scheduled to take place in three months, he revealed. For Tokenized, the focus has been on e-money, with the company submitting a whitepaper to the Bank of England that lays out how e-money on the Tokenized platform would function.
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