Last week, we gave you a glimpse into Bitcoin Miami and what to expect from the landmark Bitcoin conference of the world, particularly as an attendee. But ahead of the industry's largest Bitcoin conference, it's important to know that Trust Machines will have a major presence at one of the Bitcoin world’s marquee events this year where more than 50,000 people are expected to come together to help build the future of the world’s largest cryptocurrency.
Anticipation for this year’s edition of the three-day conference (May 18-20 this year) is sky-high after last year yielded the announcements of community efforts to build out new electrical grids to support sustainable Bitcoin mining and revitalize the U.S.’s energy infrastructure, Wyoming Senator Cynthia Lummis’ bipartisan bill to propel Bitcoin innovation, and Block & Blockstream’s partnership to leverage Tesla’s solar and battery technology to build a fully renewable mining operation.
Our Mission at Bitcoin Miami 2023: Building on Bitcoin
Trust Machines’ mission is to revolutionize the Bitcoin economy and inspire builders from around the globe to join the effort to build on the Bitcoin blockchain, and CEO Muneeb Ali will have the opportunity to deliver our message when he delivers his keynote at Bitcoin Miami 2023 on May 18.
Since its inception, Bitcoin has grown into an asset class worth more than $500 billion, but most of that valuation remains passive. While it is the oldest, most decentralized, most popular, and most secure blockchain in existence, Bitcoin remains difficult to scale. That reality is by design, and is a necessary condition of its emphasis on security and decentralization.
But as we've seen over the past years and even the past few months, there's also a huge opportunity for builders. That opportunity has only been reinforced in the past few months thanks to a number of new developments like the Ordinals protocol, Bitcoin Stamps, RGB and, more recently, the BRC-20 token standard. All of them have encouraged builders to explore what is possible on the Bitcoin blockchain and have provided the industry with additional tools to explore use cases on the Bitcoin blockchain.
As a result, our speakers have spent the past few months reiterating why Bitcoin is the place to be. From NFT.NYC to Bitcoin builders conferences, we have emphasized that Bitcoin is in the middle of a cultural renaissance of sorts, encouraging our fellow builders and friends to explore the Bitcoin ecosystem and what it has to offer.
Exploring Scaling Solutions Like L2s
Of course, let's not forget that Bitcoin layers remain central to our Bitcoin thesis.
During his Keynote speech at this year’s Hong Kong Web3 Festival, Ali reiterated the importance of scalability and Trust Machines’ commitment to those efforts.
"The value Bitcoin provides is durability," he said. "If there is one chain that will survive 20 to 30 years from now, the highest probability [lies with Bitcoin]." In order for Bitcoin to deliver on that promise, it has to evolve.
Scaling solutions have been the new frontier of Bitcoin development for the last few years, and have resulted in amazing technological efforts that have expanded what Bitcoin can be, including L2 solutions like Lightning, RSK, Stacks, and Liquid. However, the entire market cap of L2 is still under $2 billion, or about 0.4% of the Bitcoin economy.
That’s where Trust Machines comes in. We’re helping develop several ecosystem-shaping products designed to help the Bitcoin community grow, and our engineers are contributing to key open source projects that will, ultimately, bring about the next evolution of the Bitcoin blockchain.
Finding Trust Machines at the Bitcoin Miami 2023 Venue
In his Bitcoin Miami 2023 Keynote, Trust Machines CEO Muneeb Ali will also outline our latest effort in growing the Bitcoin economy, sBTC.
Moving bitcoin in and out of the base layer remains a major hurdle for the Bitcoin network. The promise of sBTC is to make this hurdle a thing of the past. Many of our core engineers are part of an open source project that is building a trustless two-way peg that would basically allow BTC to be moved in and out of Bitcoin L1 easily, with sBTC's launch expected later this year.
What would this ultimately mean? On May 18, our Trust Machines CEO will elaborate on how the launch of sBTC will also signal the beginning of increased functionalities on Bitcoin, including Bitcoin DeFi capabilities.
In addition to Ali’s Keynote speech this Thursday, two more members of Trust Machines will feature on panels. Dan Held, Trust Machines Marketing Advisor will feature on Thursday’s panel titled "What Happened: Credit and Lending Markets.” Head of Operations and Strategy Rena Shah will feature on Friday’s panel titled "Real Collateral and the Everything Bubble." Both offer insights into recent financial events in the crypto space, and will delve into the details of some of the biggest news-making events in Web3 over the last year.
But ultimately, regardless of conference days or time, the Trust Machines team will be found right at the entrance to the show-level floor of the Miami Beach Convention Center. If anything, join us for a conversation about the future that we're looking to build on Bitcoin, and learn how you, too, can participate in the next big evolution on Bitcoin.
The Bitcoin 2023 conference will be located at the Miami Beach Convention Center at 1901 Convention Center Drive, Miami Beach, FL 33139 from May 18 to May 20.
