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In this week’s episode of the “Bitcoin Magazine Podcast,” host CK sat down with Edan Yago of the Sovryn project to discuss this initiative and how it is building decentralized infrastructure for Bitcoin.
Sovryn is like a company, except that it runs completely on bitcoin and it is not incorporated into any centralized organization. In other words, it is a fully remote, novel type of company that is fluid, distributed and powered by Bitcoin.
Sovryn has developed an exchange and programmatic USD coin system leveraging the RSK Bitcoin sidechain and it 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” rather than “Bitcoin Maximalists.” According to Yago, the Mutants understand that Bitcoin is key but they are not afraid to leverage the decentralized tech being built elsewhere. They see the Ethereum and altcoin ecosystem as an opportunity for Bitcoin to conquer as the defacto money and trading pair.
The Sovryn team sees Bitcoin as the main building block of the new decentralized economy and think that Bitcoiners should not settle for centralized technology solutions.