It is time for many industries to optimize, old processes are becoming more inefficient by the day as new technologies are launched. In many instances, blockchain will be the technology that disrupts industries. The power of a global, public ledger with transaction fees that are a fraction of a penny can introduce cost-savings, and as a result, an increase in efficiency in many sectors.
With more industries leveraging blockchain, somebody is going to have to step up and be a data management service provider, similar to what Amazon Web Services (AWS) does for enterprises, providing the back-end services that every business needs, for what is often the best price possible due to the scale of their (Amazon’s) operation. When it comes to building on Bitcoin, TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC: TAALF), the enterprise blockchain transaction processor, is well-positioned to provide the data management services that companies are going to need.
“Our goal is to be the largest player,” Chris Naprawa, the CEO of TAAL, told the Bankless Times in a recent interview. “That means lots and lots of data at really low prices. Someone’s going to emerge as the Amazon Web Services of blockchain and why not us.”
Data management on Bitcoin
As Naprawa said, to be the AWS of blockchain means that you have the ability to manage lots of data at very low prices–features that are only possible on the Bitcoin SV (BSV) blockchain. At the moment, no other blockchain besides BSV has the transaction throughput and transaction fees that allow large amounts of data to move from Point A to point B at a cost that is cheaper than traditional methods of exchanging data. This makes BSV a prime candidate for industry-disrupting solutions to be built on top of it. That being said, these industry-disrupting solutions are going to need a transaction processor on their back-end—and that is where TAAL comes into the picture.
TAAL has two primary operations, it is a data management service provider (think AWS) with enterprise clients that pay a monthly fee for the services that TAAL provides them with (transaction processing, hosting, etc.); and TAAL is also a Bitcoin (BSV) transaction processor, which means that TAAL mines blocks on the BSV network and wins the block reward as well as the transaction fee revenue attached to the block.
As businesses and industries inevitably gravitate toward the most cost-efficient solution–which for many companies will be a blockchain solution built on Bitcoin—TAAL is anticipating the amount of business it will bring its data management arm. Enterprises have the ability to generate billions of transactions equal to several terabytes of data per day, and there’s going to have to be a company on the back-end that can provide the infrastructure those businesses need to succeed from a technical perspective—there is going to need to be a TAAL.
See also: Equity analyst John Pitts and fintech expert Len Mazur discuss TAAL, Bitcoin and the transaction processing industry
New to Bitcoin? Check out Thertreet.Com’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.