If you are reading this, you likely have already read our announcement of the commitment SBI BITS has to support the Bitcoin Cash ecosystem in terms of building out business applications and institutional grade infrastructure with the intention of paving the way for large institutions and the masses to conduct business using Bitcoin Cash as the global open payment system. Unlike other strategies which may focus on building Layer 2 solutions on top of a crippled Legacy (Segwitted) Bitcoin system, we intend to drive on-chain scaling solutions and business models as a priority. Unlike some of the "survivalist cypherpunk subculture" bitcoin supporters who advocate subterfuge and anti-establishment tactics in an ill founded attempt to overthrow the existing institutions of the world, I'm a product of the current system, and I don't think it's broken beyond repair, so we shouldn't throw the baby out with the bathwater, so to speak.
I spent 11 years of my professional career working at Goldman Sachs Technology before I came to run the Digital Assets (Bitcoin) Department at SBI BITS. This is something I'm still very proud of for both the things that I learned and the experiences and talented people that I had an opportunity to have/meet. They (GS) aren't the monster that some people (who likely never worked there) would like to portray them as. But they have a culture of meritocracy and of rewarding delivery of results. One way this culture manifested was having "cross-firm" 360 degree reviews and a constant headcount churn where the bottom 5% were laid off. This may at first seem harsh but it did keep the constant reminder that we had to continually think commercially and to deliver results instead of wasting time on theoretical whims and fancies.
So why Bitcoin Cash? Well simply put it maintains the original idea of Bitcoin of being a global payment network for settlement of debts small or large. And to grow to that point it needs to provide features that existing payment networks don't have, namely, finality (most people use the word immutability) and being almost free to use. This feature set will guarantee that people will freely choose to use it as their payment network of choice, and that in turn will ensure that the bitcoin token has an ever increasing value in fiat terms, until the point where market saturation is attained and the value would stabilize to mirror the demand for payments (most people call this the velocity of money).
How do we get there from where we are now? That involves building out institutional grade systems and infrastructure so that bigger players can safely participate in the network. The first step is building out proper regulated exchanges, better described as "trade match making services". We are currently building our own match making venue open only to brokers in Japan and this should open up access to a very large and dormant amount of capital that has traditionally been very hard to access. (Japanese have a very common habit of storing hordes of cash in their proverbial mattresses). Next, I'll tell you what we have in store for the future, and how we will help build out the foundations of the new economy, FinTech 2.0.


2 of 3 reviewers say it's worth paying for

1 of 3 reviewers say it's not worth paying for

  spent 20.0¢
Apologies on the high initial price. Was intending to describe our whole roadmap in the post, instead I'll break it down into separate blogs and installments.
   1yr ago