'B Foundation' Announced at Baltic Honey Badger 2018 Bitcoin Conf.

‘B Foundation’ Announced at Baltic Honey Badger 2018 Bitcoin Conf.

At the Baltic Honey Badger 2018 Bitcoin conference, Trezor and Satoshi Labs co-founder Alena Vranova announced “The B Foundation,” a new “mixed charitable and commercial” foundation that will be focused on concerted bitcoin adoption and research efforts.

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Taking Bitcoin Evangelism One Step Further

Alex Vranova of Satoshi Labs and Trezor fame announced The B Foundation, a new body that will be focused on coordinating general bitcoin adoption and research developments, a la the model of ETH’s Ethereum Foundation.

In a transcript written up by LedgerX’s Bryan Bishop, Vranova made her case for why such a foundation could be fruitful adoption-wise, commenting:

“I have to say that centralized efforts are much more effective. If you have an Ethereum Foundation with a marketing department and promotions and creates beautiful sleek-looking material and produces materials, it’s much more effective in the short-term. I spent a great deal of time in the last year or year and a half visiting many blockchain events to see what’s really happening and what’s happening outside of our cute little bitcoin bubble that we like because it’s cozy.”

Proponents, like Casa engineer Jameson Lopp, have chimed in, saying The B Foundation doesn’t and won’t pretend to speak for, or represent, Bitcoin in general; rather, the new foundation simply seeks, at least in mission, to make bitcoin’s case for the sake of bitcoin itself.

Based out of legally-friendly Liechtenstein, the foundation will fight under the banner of BTC and the Lightning Network, Vranova said:

“It’s about bitcoin and lightning network development are the main focus. We might have some side projects like privacy-related projects like tor, freenet, stuff like that, bittorrent, but mostly bitcoin and lightning network. Simple website to match donors and projects, we want to show projects that could use financial help, and donors that could provide this financial help. This website will be overseen by a board of very knowledgeable and reputable advisors. The advisors will organize the project in a clear way. There will be a hierarchy of specific projects and you can decide to earmark your money to bitcoin marketing & PR or bitcoin usability projects or one-click installation full node or something along the lines like Nicolas Dorier is doing right now, like UX-oriented development. And a lot of bitcoin R&D.”

Bitcoin’s adoption being taken to the next level won’t happen by itself. Accordingly, The B Foundation will hone in on bridging the divide between those who might be sympathetic to bitcoin and bitcoin’s actual users.

“The next goal is to have at least 500 new developers trained with scholarships. I don’t mean teaching them basic php, but we will probably approach universities that have programming courses and help those young people get some quick courses and scholarships for bitcoin coding,” Vranova concluded.

Already Some Ribbing

In infamy, the Bitcoin Foundation had its own problems back in the day.

Detractors on the other side of the “coin,” like Olivier Janssens, remarked that the new B Foundtion might bring about the same centralizing flaws that besmirched the original Bitcoin Foundation, calling the new group’s formation “appalling”:

Bitcoin Unlimited Chief Scientist Peter Rizun also chimed in on The B Foundation, contesting Giacomo Zucco’s definition of “shitcoin scammers” from Zucco’s presentation at the Baltic Honey Badger conference, suggesting he might disagree with Bitcoin Maximalists’ claims but that he didn’t accordingly consider them scammers.

What’s your take? Do you think The B Foundation can be a force for good, or will it fall prey to the pitfalls of the early Bitcoin Foundation? Let us know where you stand in the comments below — Bitsonline wants to hear from you! Sound off!

Images via Pixabay

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