Friday, December 2, 2022

The Future of Bitcoin 2017 Series: Jihan Wu, CEO Bitmain

The Future of Bitcoin 2017 Series: Jihan Wu, CEO Bitmain

Keynote speaker at The Future of Bitcoin 2017 was Jihan Wu, co-founder and CEO of Bitmain. As well as being one of the world’s largest Bitcoin mining hardware manufacturers, Beijing-based Bitmain also runs (currently) the world’s largest mining pool, Antpool.

Jihan Wu: What Kind of Leadership Should Bitcoin Have?

Wu asks in this talk what sort of leadership Bitcoin needs. Should it have a “benevolent dictator” like other open source software projects? Or does there need to be some kind of design committee? Is so, how does the community decide who that is?

Wu and Bitmain’s prominence in Bitcoin mining give them both a large amount of influence over what software the network runs. Though he’s known as a larger-block proponent, Wu says he actually supports the “extension block” solution to scale transaction volumes.

Wu argues that Bitcoin needs not one, but multiple implementations. This way, the community as a whole gets to review the best ideas and influence which are implemented. Though miners also have influence, all the plans will be publicly available and the community has the chance to debate them.

He also speaks on what features could potentially be included in a future Bitcoin, such as smart contracts and added security. Bitcoin needs to make sure it keeps up, and does not end up “another Nokia”.

About The Future of Bitcoin 2017

The Future of Bitcoin conference took place in June-July 2017 in Arnhem, Netherlands. Presenting at the event were several high profile individuals who will be making key decisions about what Bitcoin is, and how it works, in the years to come.

This is a comprehensive video series featuring all the speakers and panels from the 2017. event. Watch them for a direct insight into the minds engaged in research and development to keep Bitcoin disruptive, decentralized, global and permissionless.

Did you enjoy this video? Feel free to leave your comments below.



Bitsonline Email Newsletter