Ryan X. Charles, founder of payments company Money Button and currently the engineering head of tokenization entity smart wallet at The Bayesian Group, is Bitcoin Association Ambassador representing the West Coast of the United States. Before immersing himself in the world of digital currencies, he was an engineer and a physicist.
“I was drawn to Bitcoin originally in 2011. It just seemed like a really interesting new technology that looked like it had the ability to change the world. Bitcoin is a remarkable technical innovation that makes a lot of new things possible. So it struck me as being analogous to the Internet,” Charles told Bitcoin Association, a global industry organization that advances the development of Bitcoin SV (BSV) and its blockchain.
In 2013, the BSV ambassador is an engineer and was a candidate for a Ph.D. in Physics and he was working on high energy astrophysics and Bayesian probability theory for his dissertation. He decided to leave his Ph.D. and shift careers in order to pursue his interest in Bitcoin. He then became a software engineer for BitPay and later on became social media giant Reddit’s first-ever cryptocurrency engineer.
“Over time, we’ve built this entire global system that really relies on the Internet in a lot of ways. I think Bitcoin is actually even bigger than the Internet. It has a lot of the same features the Internet has when it comes to communication, but it also includes money and contracts in a way that enables us to really ultimately base the entire world economy on top of Bitcoin with Bitcoin at the base,” Charles said.
Working with Bitcoin SV
It was in 2015, only two years since Charles left everything to pursue his passion for Bitcoin, that he started working on his own project called “Yours,” a decentralized social network that later on became Money Button. When he first started with Yours, Bitcoin SV has not been founded yet. And for years, he switched from blockchain to blockchain trying to find one that can accommodate all the functionalities his business model needed.
“We originally used Bitcoin Core until the fees got too high, which meant that we had to switch at that time from Bitcoin Core to Litecoin. This is how we got involved in the block size debate around Bitcoin. It was very clear to us that the correct path forward was to have large blocks and use the original protocol,” Charles related.
Bitcoin SV, with SV standing for Satoshi Vision, is the rebirth of the original Bitcoin and is committed to Bitcoin creator Satoshi Nakamoto’s vision of an infinitely scalable blockchain that operates on a fixed protocol and promotes regulation compliance. Money Button, which was using Bitcoin Cash at that time, was the first company to move over to Bitcoin SV when it was established in 2018.
“There is a difference in visions of the two sides. And Bitcoin Cash was focused on innovative new features at a protocol level, whereas Bitcoin SV was focused on fixed protocol and scaling on chain so that all the innovations happen at the application layer…. The way it scales is that businesses build infrastructure and they validate transactions or create transactions in parallel and in pipelines. So the key advantage of BSV is very simple. It’s a fixed protocol and it scales. From a business perspective, you can build your application on BSV and you can know that it’s going to continue to function forever. That’s much better for our business,” Charles explained.
Charles has never looked back or regretted his decision, and it is a no-brainer why he decided to become a BSV ambassador and promote its advocacy of providing a stable, scalable, secure, and sustainable blockchain for global adoption.