Bitcoin creator Dr. Craig S. Wright will deliver a keynote speech on Tuesday April 12th at the Global IEEE 5G-IoT Blockchain Summit hosted in Rabat, Morocco. BSV has its sights set firmly on the data-heavy economy of the future, and Dr. Wright is making sure technical standards committees are aware of what’s required to build a secure “economic layer” into tomorrow’s electronic communications systems.
Dr. Wright will speak about BSV and its role in the Internet of Things (IoT), focusing on the impact of IPv6. The next iteration of the world’s Internet Protocol aims to make digital communications faster and more secure, taking into account the hundreds of billions more connected devices that will come online in the coming years.
BSV Blockchain Association Founding President Jimmy Nguyen will follow Dr. Wright’s keynote with a presentation titled “BSV Blockchain: Scaling Big for a Better Internet and a New World of Data.”
The Global IEEE 5G-IoT Blockchain Summit is a virtual event hosted in Rabat, Morocco. The Chair of the IEEE Morocco Blockchain Group will open proceedings, while other speakers will look at IPv6 and IoT-related issues such as supply chains, faster wireless communications, and data/technical standards. It takes place during Rabat’s Smart Cities Week events.
There are already around 14 billion devices on today’s internet, including human users and IoT devices large and small. Dr. Wright is particularly keen to see the BSV blockchain integrated with IPv6 standards, giving the internet its long-awaited secure economic layer, or “an on-demand internet of value” that can relay data between individual users (human or machine) end-to-end anywhere in the world, while maintaining communications privacy and users’ ownership and control of their own data.
He had initially designed Bitcoin along with IPv6 principles; however, in 2009, Bitcoin had not yet proven its viability as a payments network, and Bitcoin’s end-to-end features were later removed from the protocol software. With BSV now traveling a separate path to the “Bitcoin” the world has come to know (but by restoring Bitcoin’s original protocol rules), there’s a ripe opportunity to fulfill Satoshi’s original vision even more.
Interest in these features has seen Dr. Wright speak at several IPv6-themed events. He presented at the Institute of Electrical and Electronics Engineers’ (IEEE) UAE Blockchain Group Kick Off Symposium at the University of Dubai in March 2022 and will also speak at the Global IoT Summit in Dublin, Ireland, in June.
As these new technologies emerge, it’s vital that they share pre-defined standards rather than having multiple competing ones. IPv6 has been developed to replace the aging IPv4, which (much like some blockchains) has struggled to scale efficiently as demand increases.
To the general public, the best-known feature of IPv6 is a near-infinite range of unique addresses, compared to IPv4’s far more limited set. However, Dr. Wright has pointed out there are far more possibilities concerning security and privacy, such as setting standards in data packet headers to facilitate key exchange and manage communications between individual devices.
BSV is well suited to step into that role. Its network and blockchain are designed (and have been since before Bitcoin‘s launch in 2009) to process as much data as today’s internet does and far more. Its structure allows for the timestamping of all information and changes, while ownership and control of the data itself remain with its owner. This model, combined with BSV’s unbounded ability to scale, creates a true “data economy” where data itself represents value—as opposed to today’s internet, which relies too heavily on advertising and harvesting/selling of private data on centralized platforms.
Watch: Dr. Craig Wright tackles IPv6, blockchain integration on The Bitcoin Bridge
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