Kyrt, the third-place winner at the 2020 BSV Hackathon, has been officially rebranded as mintBlue. With its rebranding comes more services while retaining its original mission of making blockchain integration easy for businesses and developers.
Now, clients need not understand complex coding language and directly interact with the more technical requirements of building on the BSV blockchain, such as the Bitcoin script and opcodes, in order to create blockchain solutions for their data problems.
“In the blockchain, corporates just can’t get anything off the ground this way. So, we thought with mintBlue, we could become a service provider to integrate payments easily and use common programming languages. We have these packaged standardized API services that organizations can just plug into their systems with common programming languages, so their current developer team can simply build with blockchain,” mintBlue Founder and CEO Niels van den Bergh said.
This is because being able to understand and work with the highly technical Bitcoin script, which is Bitcoin’s programming language, is a special toolset and skill that most enterprises do not have the technology or manpower for. And this has become a huge barrier to blockchain adoption—something that mintBlue is gaining ground in overcoming.
“At mintBlue, we help overcome these barriers by creating off-the-shelf ready-made API services. Organizations can just plugin into their own existing systems. Among them are digital certificates, tokenization, data integrity, NFTs, smart contracts, and micropayments,” van den Bergh explained during his presentation at the last CoinGeek Conference held on October 5 to 7 in New York.
Instead of focusing on developing a blockchain-based product line, mintBlue is putting its all in working with protocols and providing a way for businesses to integrate blockchain solutions into their systems.
“Most products and services online today are so-called walled gardens. They’re siloed databases that do not talk to each other. Protocols fix this. How? Through interoperability. The single largest innovation blocker in the digital age is a lack of interoperability. To solve the most complex problems we face today in the world, most data already exist, we just can’t access it right now,” van den Bergh pointed out.
For instance, European accounting software firm Yuki has been able to find an efficient yet practical solution to their long-term issue of invoice data loss. By creating a digital invoice twin on the blockchain, exchanges of invoices can be facilitated without loss of any kind of detail as records on the blockchain are immutable, secure, and verifiable.
After being able to find a solution, Yuki is then faced with the seemingly insurmountable problem of budget due to the massive number of invoices the company generates. Putting a million invoices on the ETH blockchain would cost Yuki roughly $61 million, on BTC $13.2 million, and on Cardano $188,000.
By working with mintBlue, Yuki is now only paying about $1,680 for a million invoices. This is because mintBlue is able to leverage the powerful capabilities of the BSV blockchain, which translates to the biggest data blocks, extremely high throughput, and the lowest transaction fees at mere fractions of a penny.
“BSV, your favorite protocol, has taken the lead in blockchain adoption in Europe. This is not a pie in the sky. This is happening right now, as we speak,” van den Bergh confidently stated.
