Formerly known as Kyrt, mintBlue has officially launched its blockchain infrastructure firm after being rebranded. The announcement has been made during the eighth CoinGeek Conference in New York, where CEO and Founder Niels van den Bergh introduced the blockchain-based business to the audience.
mintBlue is spearheading blockchain adoption in Europe and demonstrating how building on the stable, efficient, cost-effective and highly scalable BSV blockchain can improve global business systems and processes.
mintBlue got its start from winning third place at the third BSV Hackathon in 2020. Its official launch only goes to show how productive the BSV Hackathon is in helping rookie developers and innovators successfully penetrate the blockchain space.
“I’m here to announce that BSV, your favorite protocol, has taken the lead in blockchain adoption in Europe. This is not a pie in the sky. This is happening right now, as we speak,” van den Bergh said.
“Our mission is to make blockchain integration easy for developers, for entrepreneurs and for businesses. But why do we have this mission? According to a study done by Deloitte, 80% of corporates plan to use blockchain within five years,” van den Bergh added.
However, what is keeping companies from integrating blockchain into their businesses right now? According to the same study, barriers to adoption include adapting existing legacy systems, security and privacy, and skills and understanding.
“At mintBlue, we help overcome these barriers by creating off-the-shelf ready-made API services. Organizations can just plug in into their own existing systems. Among them are digital certificates, tokenization, data integrity, NFTs, smart contracts and micropayments,” van den Bergh explained.
With a grand yet practical vision of becoming “the integrity infrastructure for an honest Internet,” van den Bergh plans to accomplish this by providing much-needed interoperability in industries.
“Interoperability creates value. According to a study by McKinsey, the automotive industry alone could see a 50% boost in profits if they would work in a fully integrated environment. And blockchain takes interoperability even further. Blockchain creates a single source of truth,” van den Bergh revealed.
And by using an infinitely scalable distributed ledger system that allows for the immutable and timestamped recording and storage of all kinds of data, mintBlue can easily handle big data at a cheap price.
And this is exemplified by one of their clients, European accounting software provider Yuki, which encountered problems finding a practical blockchain solution to its issue of invoice data loss. Putting a million transactions on the ETH blockchain would cost roughly $61 million, while using BTC and Cardano would entail $13.2 million and $188,000, respectively.
Using a blockchain solution seemed impossible at this point. It is a good thing that mintBlue came into the picture and offered a million transactions on the BSV blockchain for just $1,680. At present, Yuki and its clients have already published over 500,000 invoices, which further illustrates the efficiency of the BSV blockchain. This has opened the doors for mintBlue to provide blockchain solutions to other firms in the accounting industry in Europe.
“But for mintBlue, the accounting industry is just one vertical. mintBlue is not an accounting tool. mintBlue is not bound by any sector. Because when we look at it, we’ve only integrated our digital certificate solution into this organization. But we have many other off-the-shelf solutions that people and organizations can just plug in into their systems and build,” van den Bergh pointed out.
