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In this week’s episode of the “Bitcoin Magazine Podcast,” host CK sat down with Edan Yago from the Sovryn project to discuss this initiative and how it is building a decentralized infrastructure for Bitcoin.
Sovryn is like a business, except it runs entirely on bitcoin and is not contained in a centralized organization. In other words, it is a completely remote, new type of business that is fluid, distributed and powered by Bitcoin.
Sovryn has developed an exchange and programmatic USD coin system that uses the RSK Bitcoin side chain and is actively looking at other BTC Layer 2 technology to scale its services.
Sovryn likes RSK’s technology because it is based on the existing Ethereum technology stack, making it interoperable with the entire Ethereum defi ecosystem. Yago discussed how the members of the Sovryn team refer to themselves as ‘Bitcoin Mutants’ instead of ‘Bitcoin Maximalists’. According to Yago, the mutants understand that Bitcoin is key, but they aren’t afraid to take advantage of the decentralized technology being built elsewhere. They see the Ethereum and altcoin ecosystem as an opportunity for Bitcoin to conquer as the de facto money and trading pair.
The Sovryn team sees Bitcoin as the most important building block of the new decentralized economy and believes that Bitcoiners should not settle for centralized technology solutions.