Unbounded Enterprise’s mission is to make building on Bitcoin simple. Many will assume that the Bitcoin we are referring to is BTC - the asset which has traded for as high as $45,000 in recent times. BTC has captured the imaginations of investors as a digital sound money, a savings technology, or a store of value. At Unbounded Enterprise, what fascinates us about Bitcoin is its potential to serve as a foundational layer for a new, secure internet that fuses value and information. Because of that focus, BTC is thoroughly uninteresting to us.
BSV is the Enterprise Grade Bitcoin to BTC’s Bitcoin MVP
At Unbounded Enterprise, we think of BTC like the MVP for Bitcoin. It is very limited in functionality. It can only handle 7 transactions per second which results in per transaction fees which regularly exceed $10 or even $50. But, it has helped to demonstrate the demand for a more neutral money. The BTC MVP has kicked off an entire blockchain industry which has drawn in technologists, business executives, investors, and even governments.
We see Bitcoin SV (BSV) as the enterprise grade Bitcoin to BTC’s Bitcoin MVP, and to be honest, the chasm between the utility potential of these two technologies is even wider than the analogy suggests. Today, BSV dominates in key metrics like transactions per second (9,000 and growing to BTC’s 7 and stagnant) and fees (currently 93,000 times cheaper at about 1/100th of a cent). Cheap, fast transactions mean that builders can make use of the Bitcoin blockchain without running into scale ceilings or prohibitive costs. BSV also has restored Bitcoin’s scripting language - the type of key long-term feature one might deprecate in an MVP as BTC has done. Bitcoin script is like a blank canvas allowing Bitcoin builders to create any type of transaction, and thus any type of application that one can imagine.
BSV’s Builder Mindset
The current technological supremacy of BSV is still just a drop in the bucket for Unbounded Enterprise. Our real “Why BSV?” has to do with the goals and mindset of the BSV community and how that contrasts with the rest of the blockchain industry.
As an application builder, what matters is the ability to make a successful business. The biggest obstacles to application success that an underlying platform can create are scale ceilings, high costs, protocol changes which break applications, or the inability to operate in compliant fashion. BSV has the right mindset to address all of these concerns.
SCALE
Scale is not a concern with BSV because it has the ability to scale to meet any arbitrary level of demand as well as the correct incentives to achieve that scale. This is in contrast to many blockchains which have technical limitations (Ethereum, XRP, Chainlink, BNB, EOS, Tezos, Polkadot), ideological barriers to scale (BTC, Ethereum, most other blockchains), or lack the right incentives to scale effectively (Proof of Stake networks, private blockchains). High costs are a function of scale ceilings meaning that BSV’s scalability means applications can expect affordable infrastructure costs.
stability
Stability is another huge emphasis in BSV that is essential to application developers. Imagine how much more difficult building an internet business would be if TCP/IP changed every quarter? It would be impossible. The experience of building on a changing foundation is what has driven many developers to BSV from other blockchains such as BTC and Ethereum. BSV’s mindset is that the original Bitcoin protocol was perfectly adequate to meet the world’s demand for a public blockchain. Therefore, prioritizing stability over perfection makes the most sense. Other blockchains may sincerely need improvements to achieve success at global scale, and many blockchains simply have a culture of constant tinkering.
Compliance
No blockchain can make compliance automatic. Compliance is really something that happens at the application level. However, blockchains can certainly make application compliance more or less difficult. The key to BSV’s compliance is the public, unchanging nature of the Blockchain. All records of blockchain activity are preserved leaving an immutable audit trail. This makes demonstrating compliance simple. Other blockchains create space for losing records. Lightning network, a proposed scaling solution for BTC, is a good example. Lightning usage doesn’t leave a trail making compliance extremely burdensome.
In general, BSV is very practical - and its approach to compliance is evidence of that practicality. BSV understands that in a world of laws and governments, blockchain based assets will be frozen and confiscated and blockchain based data may need to be deleted. BSV can accommodate these needs making it suitable for governments, but the bar to make these changes in BSV is high enough that users will not experience the sorts of censorship possible in traditional IT and financial systems.
Unbounded Potential
At the end of the day, Unbounded Enterprise is a business seeking to make a profit by improving the world in some way. BSV’s goals are much more conducive to a profit-seeking business. A technology that can transform the world’s IT and financial systems presents an opportunity for us to change the world for the better. A savings technology might be useful for individual investors, but it isn’t the right focus for a technology business. That’s why we are fully focused on BSV as our Bitcoin of choice.