On October 6th, CEO of Bitcoin Latinum Dr. Donald Basile was featured on an Ask-Me-Anything-style interview hosted by Sarson Funds Chief Marketing Officer, Jahon Jamali. Sarson Funds is a cryptocurrency and blockchain education and investment solutions provider based in Indianapolis, Indiana.
Dr. Basile and Jamali covered several topics through the course of the interview, from Bitcoin Latinum, its architecture and target audience, to its prioritization of energy efficiency through minimal energy consumption.
In the interview, Dr. Basile spoke of the reasons for bringing Bitcoin Latinum to its target markets – media and entertainment, gaming, cloud computing, and telecommunications – stating that it comes down to speed and cost. Dr. Basile stated, “We look at an in-game transaction that might be around a dollar, coupled with network fees of around $10, $20, or even $100 dollars… additionally, current gaming blockchains might clear transactions between a few minutes to a few hours… it’s just impractical.” With Bitcoin Latinum, enhanced speeds, cheaper network fees, and secure network governance work together to make LTNM a dependable blockchain solution for its target audience.
Additionally, Dr. Basile discussed the decision to make Bitcoin Latinum an asset-backed cryptocurrency, claiming that “people wanted a transaction medium with something behind the cryptocurrency,” and that people need a nuanced cryptocurrency with an asset-backing alongside fast transaction speeds and low costs in order to promote universal adoption. Bitcoin Latinum fills people’s desires for a cryptocurrency with an asset-backing.
Basile also brought attention to global concerns surrounding the energy usage of Bitcoin, which influenced one of the core enhancements that Bitcoin Latinum brings to the Bitcoin source code, the implementation of Proof of Stake transaction validation and block creation. Dr. Basile noted on Bitcoin Latinum’s green initiative, “We went ahead and implemented Proof-of-Stake above Proof-of-Work, allowing us to use very little power. We’re part of the Crypto Climate Accord to bring a zero carbon footprint… As crypto becomes broadly used we don’t want to be consuming cities and cities worth of power to go ahead and do transactions.” We believe that Bitcoin Latinum’s quest to model a more sustainable future for blockchain technology and cryptocurrencies is redefining the global outlook on cryptocurrency energy usage and the future of the ecosystem.
We are excited to witness and take part in the growing exposure that Bitcoin Latinum is seeing across various media outlets, and are thrilled to continue sharing our story as we seek to lead the corporate blockchain landscape.