Creating a P2P Bitcoin ecosystem with LocalBSV

“An ecosystem does not grow from potential; it grows from consistent daily use,” says LocalBSV founder Elton Gashi. The platform he built is designed to facilitate that. It’s a peer-to-peer ecosystem designed to create connections and interactions between users, combining human-world activity with on-chain settlement to yield valuable results.

Anyone in the world can sign up to use LocalBSV. It has only recently launched, so it’s still in its early days. In addition to P2P swap arrangements, there’s a jobs board, delivery/courier services, and a publishing function. Publishing includes books, articles, research, and even a video streaming service (linked to Twitch accounts) where streamers can collect tips. There are more premium services available for a subscription fee, but the basics are available to all.

The idea, Gashi says, is to “give people real reasons to use Bitcoin every day.” He describes the platform as a “missing link” that provides people with the opportunity to connect directly with each other. It’s a software-as-a-service (SaaS) product that aims to foster a genuine, thriving, and beneficial economy.

On the surface, LocalBSV feels like the old LocalBitcoins site. Beyond that, though, its back-end, structure, and vision are quite different. Old-timers will recall that LocalBitcoins (which seemed like a good idea at the time) and its centralized wallets eventually fell foul of customer ID (KYC) regulations in various jurisdictions, and eventually shut down completely following the introduction of MiCA in the European Union in mid-2025.

The key difference, says Gashi, is that the platform is non-custodial and it does not intervene in transactions between users. While there is an escrow function, it’s automated and utilizes on-chain smart contracts, where users interact directly with each other. LocalBSV is designed to comply with laws applicable to SaaS companies in Canada, where LocalBSV Inc. is registered. Local legal obligations may still exist for businesses and users, depending on their location, but LocalBSV itself is neither a money services business (MSB) nor an exchange.

For more information, you can check out our more detailed Q&A with Gashi below, where he shares his thoughts on how to grow an ecosystem organically with P2P and software—and why he chose books as one of LocalBSV’s starting points.

Back to the top ↑

Q&A with Elton Gashi, Founder of LocalBSV

What is LocalBSV for, or mainly, what’s your vision for it? And is the name based in any way on LocalBitcoins?

The name simply nods to the early peer-to-peer culture I experienced years ago when using platforms like LocalBitcoins, but LocalBSV is entirely its own creation. It is a unified peer-to-peer platform built around BSV as the settlement layer between individuals. Nothing about the business model, technology, or structure resembles LocalBitcoins. LocalBSV is a multi-market ecosystem designed from the ground up by me, long before I realized where the architecture would lead. I had used the username LocalBSV on Telegram back in 2023 without knowing I was naming the system I would later build.

The vision is simple: give people real reasons to use Bitcoin every day. Most apps built in this space focus on isolated features, such as messaging or basic social functions, but they don’t create genuine economic interactions. I wanted something deeper. LocalBSV unifies multiple economic layers, enabling peers to publish, sell, buy, work, earn, review, support, and build their reputation all within a single system. It connects writers to readers, creators to supporters, businesses to customers, and users to each other through direct on-chain settlement with no intermediaries. The entire design focuses on removing unnecessary steps and making everything faster, simpler, and more meaningful.

Why is it necessary to build platforms like this to grow the BSV ecosystem?

Because an ecosystem does not grow from potential, it grows from consistent daily use. People already have messaging apps, social media, payment apps, and trading platforms. Bitcoin becomes useful only when it replaces or improves real-world behaviors. LocalBSV fills the missing link by providing a single platform where individuals can spend, earn, support creators, run a business, publish content, and build trust all within one integrated system.

It is not about adding extra costs to what people already do. It is about adding functionality that traditional payment systems cannot support. Micropayments eliminate friction for creators and small businesses. On-chain publishing makes reviews and intellectual work verifiable and tamper-proof. Automated escrow and peer protection ensure trading is safe without compromising the platform’s independence as a financial intermediary. When you combine earning, publishing, reputation, commerce, and social interaction with instant settlement, you create a living economy instead of a collection of disconnected apps. That is how new users join and stay.

Are you expecting any problems with the no-KYC structure?

We are not anticipating major issues because LocalBSV is deliberately structured as a SaaS platform rather than a financial institution. We do not hold user funds, run an order book, match counterparties, or intermediate payments. All settlement occurs directly on-chain between the peers themselves. Our multi-tier escrow and swap systems operate through automated on-chain smart contracts. Peers sign their intentions and interact with each other directly. LocalBSV Inc. does not access, control, modify, or have custody of the funds involved.

Because the service is non-custodial and no financial intermediation occurs, LocalBSV itself has no regulatory requirement to perform KYC. Any obligations that may apply are the responsibility of individual businesses using the platform, as governed by their respective jurisdictions and laws. Users maintain exclusive control of their own private keys, can import or export at any time, and use the wallet only as a temporary working settlement wallet to enhance security. We collect only the minimum operational data needed to run a SaaS product. We do not monitor transactions between peers and do not participate in them in any capacity. LocalBSV Inc. is neither an MSB, an exchange, nor a financial service. The structure is specifically designed to operate fully within Canadian SaaS boundaries while ensuring user security.

Why book reviews and publishing?

I’m an author myself, so publishing was a natural fit. Publishing is one of the purest peer-to-peer interactions in existence: an author and a reader. BSV is uniquely suited for permanent, timestamped, encrypted, and monetizable content. LocalBSV enables authors to publish books, news articles, academic journals, or creative works directly on the blockchain. They can sell encrypted books with instant settlement, retain full ownership, and avoid the long payout delays and restrictive royalties of traditional platforms.

On-chain reviews solve the problem of fake or manipulated feedback because they cannot be altered or removed. Academic papers benefit from verifiable timestamps and a transparent peer-review layer. Writers gain visibility through other features on the platform, such as the jobs section or social boost tools, where peers can pay each other small amounts of BSV to interact with or promote content.

We recently increased royalties to 88%, significantly higher than industry norms. Combined with instant settlement and permanent ownership, publishing helps add cultural and intellectual depth to the LocalBSV ecosystem. It reflects who I am as a builder and creator, and it demonstrates one of the most compelling real-world uses of the Bitcoin technology.

Back to the top ↑

Watch: Why Saying BSV Is Bitcoin Still Gets You Censored