In April, TAAL announced a strategic licensing agreement with nChain, a blockchain solutions provider with a vision of igniting the global adoption and enterprise-level use of Bitcoin. With the anticipated rapid rise in enterprise adoption of blockchain technology, particularly large-scale projects, we believe Bitcoin SV (BSV) is the only solution. nChain’s objective of scaling the global adoption and enterprise-level use of BSV aligns with TAAL’s strategic vision.
Through a strategic licensing agreement with nChain, we now have access to one of the largest portfolios of unique and innovative patents, with 1,000+ patents filed and in process. Access to this portfolio will allow us to accelerate the development of real-world commercial solutions on the BSV network. The partnership also provides us with access to a team of leading industry experts, whose knowledge and experience vastly extends and complements our development resources.
Through this collaboration, TAAL and nChain’s products and solutions will help businesses worldwide understand and realize the potential of the blockchain and how their organizations, operations, and data can be leveraged to their advantage. As an example, nChain is completing a case study for the opioid crisis, which claims nearly 250 lives in the United States every day. With EHR Data, a public healthcare company in the United States, nChain is building a blockchain-enabled, unified overview of national prescription data, to analyze and gain a better understanding of the administration and process of opioid prescriptions. This initiative will create greater accountability amidst a fractured healthcare record system, but also serves to highlight the trust and immutability offered by the BSV blockchain, which is critical when medical records and private personal data are involved.
More recently, as tragic as the effects of the COVID-19 situation has been to the global economy and society, it has also highlighted several use cases in which blockchain technology could have helped world organizations in developing a more appropriate response in the future outbreak situations. In the case of global viral outbreaks, the two most important factors driving public health policy are accurate global reporting of infections, and the tracking of test results, between labs and test centers and hospitals. Especially given the differing standards of testing and procedures worldwide, a global ledger in which information can be accurately tracked, timestamped, and, most importantly, signed by the responsible parties who collected or handled the data is invaluable. Hopefully, this will act as an impetus for innovative companies out there to use blockchain technology so that next time this happens, the appropriate response can be ascertained earlier on in the infection cycle, to flatten the curve of infection while avoiding unnecessary overbearing measures.
Healthcare is just one example in an ever-lengthening list of industries where we are working with nChain to advance the use of the BSV technology platform, the original and only globally scalable public blockchain. Other sectors that are areas of application include:
- Capital Markets
- Luxury Brand IP protection
- Civil Infrastructure
- Distributed Computing
We’re positioned to support and monetize the increase in the volume of transactions expected on the BSV network from these industries that are choosing to adopt the platform.
“We have committed to processing transactions on the Bitcoin SV blockchain because we have a long-term view of the value of the network and the platform,” said Jerry Chan, CEO of TAAL. “This strategic partnership with nChain allows us to provide unparalleled support to our clients, who understand that the value of the blockchain is only realized when used at scale, and the business of transaction processing on a blockchain is only sustainable if a constant and massive flow of transactions is produced daily.”