BSV association partners with Saudi Digital Academy to launch BSV Blockchain Academy in Saudi Arabia


The BSV blockchain’s Switzerland-based industry association and the Saudi Digital Academy (SDA) have signed a memorandum of understanding to launch a BSV Blockchain Academy in Riyadh, Saudi Arabia. This is the first full-scale blockchain academy in the Middle East region.

The SDA is a key national initiative by the Ministry of Communications and Information Technology (MCIT) of Saudi Arabia, which aims to develop human capital and the digital capabilities of Saudi youth. It builds a national academy with international standards to educate Saudi talent in emerging technologies, and prepare them for careers in the communications and IT sector that advance the Kingdom’s digital transformation and ‘Saudi Vision 2030’.

Through the new blockchain academy in Riyadh, the BSV association and SDA will collaborate to provide blockchain learning and development resources for a variety of audiences – including developers, students, start-up entrepreneurs, business executives and government agency representatives. The academy will focus on the BSV blockchain, an enterprise-grade network that can support big business and government-scale data applications with high volumes of transactions at minimal cost; BSV median transaction fees are often a small fraction of a U.S. cent.

The BSV Blockchain Academy is the latest in a series of sector-specific educational programs launched by the SDA. As Eng. Faris AlSaqabi, Deputy Minister for Future Jobs & Capabilities at MCIT explains, “Because the Fourth Industrial Revolution involves many emerging technologies, the SDA seeks to attract multiple digital academies in order to provide training across all fields that will be vital to Saudi Arabia’s digital transformation. Since the initial academies announced at our launch event in October 2021, we continually look to add new fields of learning. Given the high interest in blockchain technology, we are proud to work with BSV’s team to bring world-class blockchain training to Saudi Arabia in this landmark initiative for the Middle East.”

The BSV blockchain’s association and SDA announced their educational partnership during a signing ceremony on the final day of LEAP 2022 – the global technology conference in Riyadh which took place on 1-3 February 2022. LEAP 2022 was the biggest ever technology event debut, attracting over 100,000 people.

Commenting on the agreement, Mohammed Alsuhaim, CEO of the Saudi Digital Academy said: “We are pleased that the Saudi Digital Academy is partnering with the BSV Blockchain Association to create in Riyadh the Middle East region’s first full scale blockchain academy. This initiative will teach students, developers, business executives and government representatives across Saudi Arabia the blockchain knowledge necessary to navigate the Fourth Industrial Revolution. The BSV team shares our vision for building true blockchain utility at big scale to power data for a digital Kingdom of Saudi Arabia, and we anticipate this is the first step in other areas of collaboration with the BSV Blockchain Association.”

Also commenting, Jimmy Nguyen, Founding President of the BSV blockchain’s association said: “The Kingdom of Saudi Arabia is at the forefront of emerging technologies such as Internet of Things, robotics, smart cities, and artificial intelligence. These fields are all driven by data, and only the BSV blockchain has the scaling capacity to act as their distributed data infrastructure. We are very excited to educate Saudi youth and professionals about the power of BSV to drive digital transformation and build a better world. We look forward to this educational partnership with the MCIT and the Saudi Digital Academy, and bringing useful blockchain adoption to the Kingdom of Saudi Arabia.”


Bitcoin SV Technical Standards Committee recommends first technical standard


Bitcoin Association for BSV, the Switzerland-based global industry organisation that works to advance business with the Bitcoin SV (BSV) blockchain and digital currency, today announces that the Bitcoin SV Technical Standards Committee (TSC), an industry-led standards organisation for the BSV ecosystem, , has progressed the Merkle proof standardised format to the recommended stage – the first BSV Technical Standard to reach this milestone.

Merkle proofs are vital to all uses of Simplified Payment Verification (SPV) described in the original Bitcoin whitepaper and form the foundation of most user interactions with the Bitcoin network. Because there are a wide variety of implementations transmitting and receiving Merkle proofs, a standardised format was proposed to improve interoperability of Merkle proofs between applications across the BSV ecosystem.

After first being proposed in June 2020 and passing an initial checkpoint review by the 10 Technical Standards Committee members, the proposed standard data format for Merkle inclusion proofs was drafted by a dedicated workgroup and subjected to several subsequent review phases – including an open public review – after which the standard was published in June 2021. Following the publication of the standard, the TSC has monitored the standard for adoption from businesses to determine its usefulness to the broader BSV ecosystem.

With the Merkle proof standardised format now in use across three prominent ecosystem applications – the Bitcoin SV node software, Merchant API (mAPI), ElectrumSV and ElectrumX – the TSC has determined that the standard has reached a sufficient level of adoption to progress to the recommended stage. The standardised format for Merkle proofs is now recommended for all businesses across the BSV ecosystem that utilise Merkle proofs in their application or service. The TSC will continue to monitor the standard for adoption, as well as any potential improvements or modifications that may be required to ensure that it remains useful and relevant for businesses that implement it.

The TSC was established to professionalise the development of Bitcoin technology in order to support major enterprise use and accelerate global adoption. It works to promote technical excellence and enhance interoperability across the BSV ecosystem through standardisation. The committee aims to facilitate industry participation and representation in the development of global standards that will promote technical excellence and enhance interoperability across the BSV ecosystem. To find out more, visit today.

Commenting on today’s announcement, Bitcoin Association for BSV Founding President Jimmy Nguyen said:

‘The work of the Bitcoin SV Technical Standards Committee is vital to professionalising the development of Bitcoin technology for business and ensuring that it is compatible, interoperable and useful. After nearly two years of work, the Merkle proof standardised format becoming the first standard to reach the recommended phase and see real adoption across the BSV ecosystem is a testament to the hard work that has been put in, the processes that have been developed – and more broadly – the importance of the TSC. I would like to extend my personal thanks to the TSC, the members of the Merkle proof standardised format working group and all of the individuals that have contributed to the success of the first BSV technical standard.’

Also commenting, Chair of the Bitcoin SV Technical Standards Committee Steve Shadders said:

‘The first BSV technical standard progressing to the recommended stage – the final stage for technical standards – represents a significant achievement for the Bitcoin SV Technical Standards Committee. The process to get to this stage has been lengthy, but the standard satisfying all of the criteria required to reach the recommended stage is significant and serves as validation, not only for the Merkle proof standardised format, but also for the TSC and the value it brings to the wider BSV ecosystem. Being the first technical standard to reach this stage, there have been several lessons learned throughout the process for the TSC and its working groups, which will benefit the development of all future technical standards – and more broadly – the BSV ecosystem.’