2022 BCH Conference Summary: What changes have taken place in BCH in the past year?

Original author: Pantera

Compiled and edited by Bai Ze Research Institute

BCH is moving towards the direction of P2P economy. Cash Tokens and the next network upgrade will bring huge opportunities to BCH. In addition, BCH's strong network effect will redefine smart contracts. It is worth noting that two countries are considering making BCH a legal tender next year.

The 2022 BCH (Bitcoin Cash) Conference has concluded successfully. BCH community members, developers, merchants, and users from all over the world traveled to St. Kitts in the Caribbean to attend the conference. This was a meeting with high hopes for the future of BCH, where the development and prospects of BCH were discussed.

A summary of the meeting is below.

Decentralization of BCH

John Swingle (lawyer, Bitcoin community veteran)

John Swingle analyzes the threats posed by CBDC (Central Bank Digital Currency) and the economic destructiveness it will bring to the public. As former Bank of Mexico Governor Agustin Carstens said, mass surveillance, financial authoritarianism, and centralized control over money are the core characteristics of CBDC.

“CBDCs represent the antithesis of P2P electronic cash.”

John Nieri (BCH developer)

John Nieri explains what General Protocols, Flipstarter.cash, One.Surgery, and more projects and companies building with BCH are doing.

John Nieri first briefly analyzed the specifications of the BCH network, such as scalability, permissionless and trustless nature, instant transactions, and use cases.

BCH + smart contracts is like Satoshi Nakamoto’s Bitcoin with smart contracts. We have come a long way to this end.

BCH is a platform and money. It can be said that BCH can do everything. (Saving, investment, payment, lending, financing, identity and contract)

This is the entire economy we will build with BCH.

John Nieri then explained the vision, mission, and values ​​of General Protocols, which is dedicated to building P2P open source financial tools on the BCH blockchain.

General Protocols has developed disruptive applications for the BCH ecosystem, such as Anyhedge and Flipstarter. Anyhedge provides merchants who accept BCH payments with a solution to price volatility - a mechanism to hedge BCH and provide stability in a permissionless and trustless environment (pure DeFi).

Finally, John Nieri believes that the next evolution of BCH will be the Cash Tokens proposal, which will bring two types of tokens to the BCH blockchain, FT (fungible tokens) and NFT (non-fungible tokens).

This will shock people's hearts!

With “Cash Tokens”, the BCH blockchain will reach optimal platform status and revolutionize tokenization and NFTs.

With Cash Tokens, BCH will become the most powerful UTXO chain in the world!

The combination of smart contracts and scalability will ensure that BCH remains at the forefront of competitiveness.

Cash Tokens will provide us with an efficient, on-chain, global, permissionless, and trustless marketplace.

With Cash Tokens, BCH will provide entrepreneurs with the opportunity to build services and create massive opportunities with the potential for adoption by billions of people around the world.

Smart contracts on BCH will facilitate applications that have not been possible in other blockchains and sidechains due to scalability issues and centralization concerns.

One example is prediction markets, where we have observed many failed experiments on smart contract blockchains.

Another example is “decentralized identity systems.

Chris Troutner (Head of FullStack.cash, veteran of the Bitcoin community)

Chris Troutner is working with PSF (Permissionless Software Foundation) to use IPFS to reduce the cost of BCH infrastructure. At the conference, Chris Troutner gave a technical demonstration of the solution.

Making it easier for individuals to protect their privacy, circumvent censorship, and engage in economic activity.

In addition, Chris Troutner is also focused on developing Cash Stack, which can be used to build BCH Web2 applications.

Payment Processing for BCH

GoCrypto

Dejan Roljic and Michael Martin, founders of crypto payments company GoCrypto, presented their payment processing solution.

GoCrypto has been promoting the adoption of BCH and other cryptocurrencies in Europe for many years, making it easy for merchants to accept cryptocurrencies through the multiple payment systems it has developed (GoCrypto POS, ePOS, e-commerce, cash registers, wallet services).

Romit Goswami (Founder of Zapit Wallet)

Romit Goswami, founder of the non-custodial crypto wallet Zapit, announced at the conference that the Zapit wallet is integrating with UPI (Unified Payments System of India) and adopting BCH in India.

Anyone anywhere in India with Zapit can make BCH payments.

With UPI integration, 100 million merchants (stores and e-commerce) and 200 million UPI users can use BCH. In the transaction, the wallet will automatically convert BCH to INR (Indian Rupee) and transfer INR to the recipient.

BCH Global Merchant Adoption

Bitcoin Jason (Content Creator)

When Bitcoin (BTC) became popular, buying a Pie and a can of Coke became useless. I couldn't use it as currency to buy things anymore.

However, when I arrived in Townsville, the “Bitcoin Cash City”, I bought candy with BCH.

In Townsville, don’t be so unconfident as to ask, “Do you accept BCH?”

We are all Satoshi! Let’s do our part.

Ryan Giffin (Youtuber, business owner)

We can go down these different paths:

Become enslaved by CBDCs, or take the beautiful path of cryptocurrencies as an alternative.

The sooner we create more adoption, the sooner we create more economic freedom for the world.

Marcelo Fleischer (Founder of Bitcoin Cash Argentina)

One day our children will ask us:

What were you doing when everything was falling apart, or what did you do to avoid that, or what did you do to make the world a better place? I don't regret what I'm doing.

We are about to succeed in Argentina. I have seen how it all starts with a small group of unbreakable people.

A single spark can start a prairie fire.

Even if you have a lot of money and a lot of investors, that's great, but if you don't have those people, it won't work. You need the core of the community. Then more people will join in.

The factors behind BCH’s rapid growth may be:

- Regular gatherings -

- educate-

- Interview -

- podcast-

- P2P -

-Reliable help for merchants-

We have to try everything. We have to run because other projects are also moving fast.

BCH may become legal tender

The final two speakers at the conference were two well-known politicians who have recently discovered use cases for cryptocurrencies, and BCH in particular: Dr. Terrance Drew (Prime Minister of St. Kitts and Nevis) and Rolando Brison (MP of St. Maarten).

Terrance Drew

Prime Minister Terrance Drew of St. Kitts and Nevis began his speech with a statement announcing that St. Kitts and Nevis has begun exploring the possibility of using BCH as legal tender, as well as establishing BCH mining facilities.

Cryptocurrency is one of the exciting digital advancements in the financial world. It has the potential to bring huge benefits.

Many businesses in St. Kitts and Nevis have begun accepting cryptocurrency payments, especially BCH.

This is tangible evidence that consumer awareness and confidence in cryptocurrencies is rising.

Our nation has always been a forward-thinking nation and a leader in exploring new industries that can advance the progress of our people.

St. Kitts and Nevis recognizes that there are many benefits to using BCH or other cryptocurrencies to promote economic growth.

We’ve even heard some people calling for BCH to be adopted as legal tender here.

We observe that Bitcoin has become legal tender in some jurisdictions. Therefore, we will explore the risks and rewards of BCH becoming legal tender in St. Kitts and Nevis. We are ready to explore this possibility with the guidance of experts and professionals and in consultation with our Central Bank, which is essential for the financial and economic protection of our country.

Therefore, once our country and people are secured, BCH will become the legal tender of St. Kitts and Nevis by March 2023!

Rolando Brison

As a member of parliament for St. Maarten and the first politician to officially use BCH as a salary, Rolando Brison is a man who has the power to push for BCH to be recognized as legal tender in St. Maarten.

Rolando Brison explains the obstacles to his legal tender proposal in Parliament and the support needed.

Summarize

The meeting ended with a closing speech by Elliot Price.

In case anyone hasn’t heard, two countries are considering making BCH legal tender next year!

As merchant adoption of BCH rapidly increases, the road is open for two different countries in the Caribbean, St. Kitts and Nevis and St. Maarten, to recognize BCH.

However, the focus is on the development of Cash Tokens and the opportunities that will arise from the next blockchain upgrade, which will make BCH the most powerful UTXO chain in the world.

BCH is moving towards a P2P economy, and its powerful network effect will redefine smart contracts.