Bitcoin Phone, the fourth BSV Hackathon winner, provides a unique utility by using the concept of the “Voice Over Internet Protocol,” innovatively implementing it in a peer-to-peer application built on the BSV blockchain, and targeting the tutoring, skill- and language-learning markets.
BSV Hackathon is a competition that fosters the development of applications and platforms on the BSV blockchain, the only public blockchain that does unlimited scaling, continuously increases its throughput and offers the lowest transaction fees in the market—the same reasons Bitcoin Phone developer Joe Thomas decided to build his communications app on BSV.
“This is the cheapest and most efficient way to do transactions. No other blockchain as we know can support this at scale. And no other Bitcoin is cheap enough to support this. We thought about using Lightning, but it was a mess because we have to hop between six or seven different people and half the time it may not even work. And we’re also limited by the bandwidth of these smallest connections in that lightning path,” Thomas said during his presentation.
Thomas, who hails from Canada, was flown in with the two other finalists, TKS Pnt and CATN8 that won second and third place, respectively, to present in front of a live panel of judges and a live audience during the eighth CoinGeek Conference held in New York.
“If you told someone back then—and this is a commonly debated topic—‘I’m going to do a voice call over the Internet.’ They’d look at you a bit funny. And the reason for that is you’re essentially telling that ‘I’m going to take an IP packet, I’m going to turn it into audio, and I’m going to play it through the telephone. And someone else is going to decode that and play out through their speakers. They’d tell you, ‘Just pick up the phone and call somebody,’” Thomas said while introducing the concept of Bitcoin Phone.
Today, with larger bandwidths that allow for faster Internet speeds making possible even video calls and live streaming, Thomas declares that Bitcoin Phone can achieve what pioneers of the “Voice Over Internet Protocol” (VOIP) have done, such as Skype being a normal means of communication for people in different parts of the world, even overtaking the telephone in this regard.
In a nutshell, Bitcoin Phone “is the most efficient way to find and pay anyone on the globe with an Internet connection for any online service.” For instance, students and parents will be able to find the cheapest option for them. And they would not even need Bitcoin to use the app, those who need Bitcoin are just people who want to buy stuff.
“We’re really targeting the tutoring and language-learning services. And these are both 6 and 13 billion-dollar industries. And we’re attempting to disrupt them. So nowadays, if you want to hire a tutor and if you want to hire someone to help you learn a language, the platform that you do it on will charge somewhere between 15-30% in fees. But we’re able to bring that down to almost peanuts. And we’re able to that because of BSV,” Thomas explained.
Bitcoin Phone also comes with Bitcoin Phone relay, an interface that resolves network latency that can even be offered as a service by BSV miners in the future, a direct incentive for users to verify identities—when parents, for example, want to ensure that their children are learning from a degree holder in a specific language or field—and a way to settle disputes easily in the case of no-shows and other complaints.
With this creative implementation of the ubiquitous VOIP on Bitcoin, Thomas has won $50,000 in BSV, while loyalty points platform TKS Pnt has been awarded $30,000 and video streaming app CATN8 has taken home $20,000.
TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.
The S&P/TSX composite index was up 254.62 points at 23,847.22.
In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.
The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.
The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.
The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.
This report by The Canadian Press was first published Sept. 19, 2024.
Losing a loved one is never easy, and the legal steps that follow can add even more stress to an already difficult time.
For years, families in Vancouver (and Canada in general) have struggled with a complex probate process—filled with paperwork and legal challenges.
Thankfully, recent changes to Canada’s probate laws aim to make this process simpler and easier to navigate.
Let’s unearth how these updates can simplify the process for you and your family.
What is probate?
Probate might sound complicated, but it’s simply the legal process of settling someone’s estate after death.
Here’s how it works.
Validating the will. The court checks if the will is legal and valid.
Appointing an executor. If named in the will, the executor manages the estate. If not, the court appoints someone.
Settling debts and taxes. The executor (and you) pays debts and taxes before anything can be given.
Distributing the estate. Once everything is settled, the executor distributes the remaining assets according to the will or legal rules.
Probate ensures everything is done by the book, giving you peace of mind during a difficult time.
Recent Changes in Canadian Probate Laws
Several updates to probate law in the country are making the process smoother for you and your family.
Here’s a closer look at the fundamental changes that are making a real difference.
1) Virtual witnessing of wills
Now permanent in many provinces, including British Columbia, wills can be signed and witnessed remotely through video calls.
Such a change makes estate planning more accessible, especially for those in remote areas or with limited mobility.
2) Simplified process for small estates
Smaller estates, like those under 25,000 CAD in BC, now have a faster, simplified probate process.
Fewer forms and legal steps mean less hassle for families handling modest estates.
3) Substantial compliance for wills
Courts can now approve wills with minor errors if they reflect the person’s true intentions.
This update prevents unnecessary legal challenges and ensures the deceased’s wishes are respected.
These changes help make probate less stressful and more efficient for you and other families across Canada.
The Probate Process and You: The Role of a Probate Lawyer
(Image: Freepik.com)
Working with a probate lawyer in Vancouver can significantly simplify the probate process, especially given the city’s complex legal landscape.
Here’s how they can help.
Navigating the legal process
Probate lawyers ensure all legal steps are followed, preventing costly mistakes and ensuring the estate is managed properly.
Handling paperwork and deadlines
They manage all the paperwork and court deadlines, taking the burden off of you during this difficult time.
Resolving disputes
If conflicts arise, probate lawyers resolve them, avoiding legal battles.
Providing you peace of mind
With a probate lawyer’s expertise, you can trust that the estate is being handled efficiently and according to the law.
With a skilled probate lawyer, you can ensure the entire process is smooth and stress-free.
Why These Changes Matter
The updates to probate law make a big difference for Canadian families. Here’s why.
Less stress for you. Simplified processes mean you can focus on grieving, not paperwork.
Faster estate settlements. Estates are settled more quickly, so beneficiaries don’t face long delays.
Fewer disputes. Courts can now honor will with minor errors, reducing family conflicts.
Accessible for everyone. Virtual witnessing and easier rules for small estates make probate more accessible for everyone, no matter where you live.
With these changes, probate becomes smoother and more manageable for you and your family.
How to Prepare for the Probate Process
Even with the recent changes, being prepared makes probate smoother. Here are a few steps to help you prepare.
Create a will. Ensure a valid will is in place to avoid complications.
Choose an executor. Pick someone responsible for managing the estate and discuss their role with them.
Organize documents. Keep key financial and legal documents in one place for easy access.
Talk to your family. Have open conversations with your family to prevent future misunderstandings.
Get legal advice. Consult with a probate lawyer to ensure everything is legally sound and up-to-date.
These simple steps make the probate process easier for everyone involved.
Wrapping Up: Making Probate Easier in Vancouver
Recent updates in probate law are simplifying the process for families, from virtual witnessing to easier estate rules. These reforms are designed to ease the burden, helping you focus on what matters—grieving and respecting your dead loved ones’ final wishes.
Despite these changes, it’s best to consult a probate lawyer to ensure you can manage everything properly. Remember, they’re here to help you during this difficult time.
TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.
The S&P/TSX composite index was up 34.91 points at 23,736.98.
In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.
The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.
The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.
The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.
This report by The Canadian Press was first published Sept. 17, 2024.
