TAAL ‘uniquely placed to win’ in Metanet services, says CEO Richard Baker

TAAL (CSE:TAAL | FWB:9SQ1 | OTC: TAALF) is “uniquely placed to win” by capitalizing on the growing demand for Metanet services, says CEO Richard Baker. Speaking at a webinar for investors and stakeholders, Baker described the blockchain infrastructure company’s plans to transition away from reliance on block subsidies and even transaction fees for its main income after 2024.

CEO Richard Baker will host a webinar on September 7th,11:00am EST, to discuss TAAL’s transition to a Metanet Service Provider, how the company is positioned today, and provide an overview of TAAL’s offerings. Register now: https://t.co/KHVKxbdOfZ pic.twitter.com/kVG5NT1c3o

— TaalBlockchain (@TaalBlockchain) September 1, 2022

TAAL’s new data commerce strategy looks at the convergence of connected commerce, connected data, and connected assets. A blockchain-based Metanet can remove many of the walled gardens and silos that have stifled the digital economy’s growth in the past. The technology also allows new forms of commerce stemming from direct payments between peers (human or machine), digital tokenization of assets and other functions, and micropayments. It also allows for data attribution, provenance, and sovereignty and provides a monetary solution to unlock its value.

Accelerating Metanet platforms

The saying “data is the new oil” has been around for a while, but so far, Baker said there’s been no monetization strategy for it. Blockchain (in particular, BSV) provides the foundation for this to occur. But a trusted foundational level service is required for businesses and organizations to get everything working together smoothly, and “fundamentally, that’s the role TAAL wants to play.” 

“Our future strategy is to accelerate Metanet platforms,” Baker said, promising to get the company’s message in front of more investors over the coming months and years. He identified five key points that make TAAL attractive: 

• TAAL is a foundational and transactional layer company that powers Web 3.0’s application layer.
• Enterprise is looking for frictionless and robust solutions on open blockchains that scale.
• TAAL is the only blockchain technology company with a vertically integrated technology stack.
• It has an experienced and knowledgeable team around the world that is innovative and execution centric.
• It has a strong foundation and cash position with high insider ownership.

Revenues based on high transaction volumes

The company’s primary income stream remains block subsidies from Bitcoin and similar networks (including BTC), which will halve again during 2024. According to Bitcoin’s original plans, subsidies were never meant to be a permanent income earner for miners—at some point, fees from transactions needed to take over. Thus, TAAL’s aim for 2024 and beyond is to build businesses based around high-volume transaction processing on BSV, supporting services that facilitate high data throughput.

“Inside every bitcoin there’s 100 million satoshis,” Baker added. This is the fractionalized economy, and TAAL’s job is “unlocking the satoshi economy’s micropayments architecture.”

How the blockchain and technology worlds are evolving

Baker referred to his experience working in telecommunications in the 1990s and how the internet almost took them by surprise. They had no plan for using the “new IP networks.” Things began to change in the mid-’00s when streaming platforms began to appear, representing the “convergence of opportunity” that often drives evolutionary cycles in the tech world.

TAAL now sees the convergence in the evolution of money and the evolution of data architectures. The past few years have also seen a boom in the use of online services (partially thanks to the COVID-19 pandemic measures) and a 68% decrease in the use of physical cash. 

Online services have centralized around “data lakes,” or massive data centers controlled by a handful of large players.

The proliferation of blockchains over the past decade has been confusing for businesses, who haven’t been able to decide which one to build on—with 40 firms investing roughly US$6 billion into blockchain and “crypto” companies between September 2021 and June 2022.

Many chose private blockchains, creating more silos and walled gardens, and several blockchain networks have experienced security issues. Enterprise has been reaching out for the next phase of the technology, and TAAL aims to show them how BSV is the affordable, scalable solution they’re looking for.

With society about to embark on huge changes in energy, transport, and payments, TAAL is the only firm looking at the whole picture. When judging blockchain opportunities, investors need to look for value in utility, not just speculation, Baker said.

Watch: The BSV Global Blockchain Convention presentation, Enabling the Real World Metaverse