What is currently preventing large enterprises (not those i…
What is currently preventing large enterprises (not those in the crypto space currently, but "normal" businesses) from utilizing BSV right now?
What will change to overcome this obstacle?
Is it that tech not ready yet?
Brand of BSV scares them?
Other?
Replies
Scaling: the 25 unconfirmed chain limit, capped block size, 100kb data tx size.
Also, most don't even know you can store data on-chain (until Jan of this year).
People would be shocked at the archaic tech businesses still use. Bitcoin is not on the radar.
Of course as more tools are built and can be used by business that replicate what they are doing today, we can get adoption. I am working on something for this, also see UNISOT. Some stuff that is not public yet will trivialize integration implementation.
Full-featured SPV is also missing yet
Thats not entirely true. One Store, 2nd largest app store in Korea wid around 35 million users has announced a music app called BUSKAN powered by BSV blockchain which allows fans to tip their fav. musicians.
I heard a good discussion recently where someone mentioned the issue of liability. When utilising Bitcoin, these existing businesses won’t have anyone to call when things go wrong etc, which may stall them until Bitcoin services/support grows.
Can definitely see that.
Biz focused on their core product and customer. New tools (even simple SaaS tools with known models) is mostly risk/time with unknown payoff. Crypto moreso.
My guess is biz with a model native to BSV will have to get big first.
it is costly to halt and switch from their legacy software systems
future thinking companies who want to hedge and tinker with bitcoin at a small scale and then phase it in at a larger scale might come sooner than later