A supply chain expert might not be the first person you’d think of turning to when thinking of how your gambling operation can improve, but there’s a lot of overlapping experience when you come to think of it. And now, because Bitcoin SV (BSV) promises to improve both industries, its men like Stephan Nilsson, Founder and CEO of UNISOT, who can share their experiences and advice on how massively scaling blockchain technology can benefit everyone. He joined our Becky Liggero Fontana on the latest episode of The Long Con.
There are lessons everywhere to be learned from COVID-19, and the supply chain world is no different. “So supply chains, just like we have seen now with this situation here with the COVID is that our society at the moment is very vulnerable for any kind of disruption, and especially if you get things like this when people have to stay home or they are not allowed to work,” Nilsson said. “And a lot of supply chains today, even if we are living in a very digitalized world, supply chains today are still a lot of manual work. It’s moving physical things, it’s moving even paper between each other, exchanging papers still today, I don’t understand how that can still be possible, but they do. So, when you have things like it, when people cannot work, you have to stay home, or even get sick, even if not many have actually got sick, but then we see that supply chains are stopping.”
Thanks to the blockchain technology made capable by Bitcoin SV, its possible to mitigate these disruptions in the future. “If you look at the supply chain, it’s a network, it’s a distributed network of company, independent companies, and we have heard this before, distributed network, that is exactly what the blockchain is,” he said. “So, there is a very good fit between this distributive supply chain network with our distributed blockchain network. It does not mean that every company should mine, be their own miner stuff like that, that’s totally out of the way. But it means that we have a lot of different actors that are working together but maybe not really trust each other totally, and this is where we can start using blockchain.”
While gambling isn’t as dependent on paperwork as the supply industry has been, the benefits are still obvious. “And the blockchain functionality, one of the things just like in gaming I can imagine, is its payment functionality,” Nilsson noted. “Of course, we can do payments, but we can do micro payments, and that’s something completely new. I think most people listening to this already know about micro payments and blockchain, so in gaming that’s what I imagine they do in in gaming with blockchain. But we also of course have the whole thing with smart contracts, and being able to optimize the business processes between businesses.”
He explained how these processes can be improved using supply chain examples he’s familiar with “Today all companies have their own ERP system, their own eat IT systems where they’re having their business processes, so business processes are like, I’m sending an order to you, you send a delivery note to me, and then you send an invoice to me, and so that’s business processes,” he said. “But today, that’s mostly between two parties, but what we can do with blockchain is that we can now connect many partners together in a long chain, a business process, so your supplier, supplier, supplier, and my customers, customers, customers, we can now all put them into one big beautiful chain of work or business process, thanks to the blockchain functionality, and thanks to micro payments and thanks to smart contracts.”
Now you may be wondering why Bitcoin SV is the only viable solution to this. Nilsson has put in the work for you. “I know what the industry needs: we need scalability, we need security, and it has to be cost efficient,” he said. “I’ve been looking into all different blockchain solutions. Ethereum of course, like a lot of come are working with the Ethereum, Hyperledger, EOS, WeChain, all of the chains out there, but I realized that the only blockchain that is actually really scalable, really secure and really having a very good cost efficiency, is actually BSV, Bitcoin SV, because it’s proven for eleven years that it actually is secure, there is no other more secure system in the world. What we see now, when we went back to the original protocol from Satoshi that the block size is removed, which means that the block can be as big as they are needed by the market, no central instance and no group of developers decide how big the block size is, it’s all decide by the market. If there is a need for more transactions, bigger blocks, then the miners will have an incentive to invest more money to make bigger blocks. So with that, that limit is gone and that’s very very important. And what we get with that as well is that now we get economy of scale, so instead of like Ethereum, the more transactions you do the more gas you have to pay. No, in Bitcoin SV, its other way around: the more transactions you do, the cheaper it gets, so it’s economy of scale in the real way.”
UNISOT is applying these new possibilities in Norway’s seafood industry, which Nilsson originally thought might make a nice bitesize example, but quickly found out that it really puts BSV’s scaling capabilities to the test. “We built an industry solution called SeafoodChain to help Norwegian or any seafood company to get global traceability, and get proof of origin of products and so on, and also be doing payments, so like doing micro payments for a temperature, or for weight, or locations,” he said. “So, you can actually track the fish all the way from the sea to the to the retailer and everything, and you can actually sell information doing that way on the supply chain. And then we see from consumers that they want more and more information about the actual content they are buying.”
If you’re still wary about BSV due to the public narrative around the digital currency space, Nilsson had some pretty simple suggestions to follow. “You need to store and read a lot of information securely, and then you need a technology that you’re secure and distributed and cost efficient, and that is exactly what you get with Bitcoin SV, so please just go and do very basic reading about technology,” he said. “Don’t listen to all this mess in social media about Craig Wright and all of that. If you can look beyond that, you can you can you can get so much information and verify that it actually works, instead of listening to hot air from all over all over the place.”
Nilsson concluded that BSV offers everything a gambling operation should want, and they need to focus on the solution that provides it all. “You have a lot of suppliers who are selling blockchain but you really have to look into scalability, security, and costs,” he said. “I mean just three are gold, if you get these three right, the rest is easy.”
If the new technology of BSV seems daunting to you still, Nilsson also speaks about his approach to educating an industry as old as the seafood world on its benefits, and his approach to providing zero barrier to entry. Also, don’t forget to subscribe to the CalvinAyre.com YouTube channel to see The Long Con each and every Monday.