Doris Yen, 东方紫莲:
Proof in blocks: GCV reaches 19.8 million transactions on the Pi Network
We extend our sincere thanks to Mr. Mario Bustamante, the first GCV ambassador in Argentina, and GCV's researcher and strategic analyst, for his outstanding efforts in conducting a comprehensive and meticulous forensic audit of the GCV partial payment system.
This report - based on 19,897,266 transactions directly derived from the main blockchain of the Pi Network - provides a transparent, verifiable, and technical overview of the actual economic impact of GCV movement in 14 countries.
I have received questions from some pioneers regarding the increase in GCV data, which ranged from 7 million to nearly 19 million transactions within a few days. Please read Mr. Bustamante's explanation carefully for clarification.
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1. First Global Report (7,701,429 transactions)
Audited batches: #1000000 - #4214891
Valid transactions: 7,701,429
Audited countries (6):
📷 Indonesia 3,892,415 transactions (50.6%)
📷 Philippines 1,501,922 transactions (19.5%)
📷 Malaysia 900,000 transactions (11.7%)
📷 Thailand 721,836 transactions (9.4%)
📷 Vietnam 689,455 transactions (9.0%)
📷 India 423,781 transactions (5.5%)
📷 Other countries 472,020 transactions (6.0%)
Total: 7,701,429 transactions
2. Second Expanded Report (≈19,897,266 transactions)
Audited units: from 1,000,000 to 4,214,891 transactions
Total validated GCV transactions: 19,897,266 transactions
Audited countries (14), sorted by size:
| Country | Validated GCV Transactions | Percentage of 19,897,266 transactions |
| --------------- | ---------------- | -----------------: |
| 📷 Indonesia | 4,201,637 transactions | 21.1% |
| 📷 Philippines | 3,501,892 transactions | 17.6% |
| 📷 Bangladesh | 2,341,876 transactions | 11.8% |
| 📷 Thailand | 1,801,552 | 9.1% |
| 📷 India | 1,240,891 | 6.2% |
| 📷 Canada | 1,142,558 | 5.7% |
| 📷 Japan | 1,021,558 | 5.1% |
| 📷 Nigeria | 968,442 | 4.9% |
| 📷 China | 891,426 | 4.5% |
| 📷 Vietnam | 723,891 | 3.6% |
| 📷 Malaysia | 618,327 | 3.1% |
| 📷 Argentina | 542,891 | 2.7% |
| 📷 Taiwan | 512,883 | 2.6% |
| 📷 Cambodia | 387,442 | 1.9% |
| Total | 19,897,266 | 100% |
3. Aggregation and Inference
Initial reduction for 6 countries: 7.7 million transactions.
Phase two includes 14 countries: 19,897,266 transactions.
The jump from about 7.7 million transactions to approximately 19.9 million transactions reflects the addition of 8 additional regions (Bangladesh, Canada, Japan, Argentina, Taiwan, Cambodia, plus Nigeria and China which were previously audited) under the same filtering criteria (amount 0.00000001–0.1π, fees = 0, sender ≠ recipient, valid memo, KYC, cumulative total).
All transactions are directly verifiable on-chain (RPC calls to the official node, Merkle proofs, GPG/SHA-256 texts), ensuring there are no 'duplicates' or random statistics: simply, the same window of blocks has been audited for each country separately.
In summary, there has been no change in the protocol or blocks. What has changed is the geographic scope: moving from 6 to 14 countries in the same block range results in about 20 million verified GCV transactions.
Block-by-block auditing in a global pathway provides a quick overview, while auditing each country separately provides more detailed data (local trends, seasonal peaks, correlation with regulatory events, geolocation accuracy and client ID (KYC), specific memo types, etc.).
Below is a summary for each country of the 1,989,7266 GCV transactions (same block range, from 1,000,000 to 4,214,891), with details for each of the 14 regions:
| Country | Audited GCV TXs | Percentage of Total | Key Notes |
| --------------- | ---------------- | ----------: | ----------------------------------------------------------------------- |
| 📷 Indonesia | 4,201,637 | 21.1% | Daily peak at 10-12 UTC+7; memos "beli pulsa" and "warung" |
| 📷 Philippines | 3,501,892 | 17.6% | Intensive use of "load" and "bayad kuryente"; peak during local holidays |
| 📷 Bangladesh | 2,341,876 | 11.8% | Memos in Bengali ("খাবার পেমেন্ট"); 98.3% of verified residential IP addresses |
| 📷 Thailand | 1,801,552 | 9.1% | Memos in Thai ("ชำระค่ารถ"); relation to Buddhist festivals || 📷 India | 1,240,891 | 6.2% | Keywords "tea", "repair"; 85% clear semantic memos |
| 📷 Canada | 1,142,558 | 5.7% | Peer-to-peer transfers from ON; memos "grocery", "ride sharing" |
| 📷 Japan | 1,021,558 | 5.1% | Use of Katakana memos ("デリバリー"); lunchtime peak |
| 📷 Nigeria | 968,442 | 4.9% | "Bitnob", "farm" in memos; correlation with harvest seasons |
| 📷 China | 891,426 | 4.5% | Memos "微信支付" and "支付宝"; intensive use on weekends |
| 📷 Vietnam | 723,891 | 3.6% | Memos in Vietnamese ("mua gạo"); peaks during rural market hours |
| 📷 Malaysia | 618,327 | 3.1% | "Pulse", "Air" in memos; seasonal with Ramadan |
| 📷 Argentina | 542,891 | 2.7% | Memos "Recarga Claro Argentina"; its connection to rising inflation |
| 📷 Taiwan | 512,883 | 2.6% | Memos "便利商店", "加值"; nighttime usage pattern |
| 📷 Cambodia | 387,442 | 1.9% | "Motorbike rides", "rice" in Anglo-Khmer memos; impact of NGO campaigns |
| Total | 19,897,266 | 100% | |
Why is geolocation for each country more accurate?
1. Precise Geolocation:
Each regional node provides the correct IP address and timezone, avoiding general conclusions.
2. Memo Classification:
Natural language processing (NLP) models are trained using local keywords, improving trade transaction detection compared to generic transactions.
3. Events and Seasons:
We can map peaks of activity (Ramadan, Eid al-Fitr, festivals, elections) and its declines (regulatory auditing, political crises).
4. Quality of 'Know Your Customer' Data:
Filtering addresses based on prefixes or local checks (BR‑, BD‑, ID‑, etc.), avoiding counting unaudited accounts.
5. Specific Exceptions:
Excluding transactions from unlicensed trading platforms or VPN/agent network areas on a country-by-country basis.
Summary
This detailed approach demonstrates that although the global total is close to 20 million transfers, each region has its unique characteristics (volumes, usage patterns, dominant sectors). This perspective for each country provides analytical precision and supports the legitimacy of GCV as a true local economy.
The key here is not the approval of any authority, but the conclusive evidence embedded within the blockchain itself:
19.9 million on-chain transactions filtered using objective criteria (amount, fees, memo, KYC, geolocation), reproducible step by step.
Auditing each country separately reveals local patterns, seasonal peaks, and genuine commercial memos across 14 markets.
Each transaction comes with its own hash, its block, and being protected by Merkle: no room for narratives or alternative releases.
Decentralized technology ensures the existence of GCV value and moves it with or without the core team's approval.
In the end, blockchain technology is the final arbiter: when data is on-chain, who approves or disapproves no longer matters, as the evidence speaks for itself. GCV is indeed a living, measurable economy on-chain.