Bitcoin Foundation Struggles To Sustain Its Existence
Facing declining finances, criminal investigations of ex-board members and the ramifications of some poor management decisions, the Bitcoin Foundation has made some changes to its board and is considering a shift in mission to sustain its existence, according to Bloomberg. During the advocacy group’s Dec. 15, 2015 board meeting, Executive Director Bruce Fenton said additional funding is needed to retain employees. At least $7 million disappeared in two years. Total assets were $12,553.06 as of Nov. 30. Fenton said the foundation, which sponsors conferences, lobbies, and offers technical....
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The Bitcoin Foundation has been wrapped up in controversy throughout its entire existence, but the non-profit organization could turn a new leaf with the appointment of Bruce Fenton as the new executive director. Fenton delivered a clear, concise presentation about the future of the Bitcoin Foundation at Inside Bitcoins NYC 2015, and he made some statements that could possibly grab the attention of even the most adamant haters of the foundation. Throughout his talk, Fenton brought up transparency as often as possible because it has been one of the most frequent complaints from foundation....
The Bitcoin Foundation has faced scrutiny in the past for multiple reasons. As of now, however, it seems the Foundation is a taking sharp turn to redirect the operation. Some of their self-admitted challenges include reputation struggles, lack of focus, declining membership revenue, falling bitcoin price and a weak balance sheet. In its latest press release, the Foundation says it is refocusing its efforts "to instill some organizational discipline around reducing expenses, eliminating distractions and focusing on revenue-generating activities."Additionally, the Foundation has announced....
Within a month of its existence, the NXT Foundation became one of the three platinum sponsors of the Mind the Gap Expo that is taking place on April 10, 2015. The foundation is also set to be the official cryptocurrency partner at the PayExpo later on in June. The number of startups around Nxt, a second-generation cryptocurrency, has been steadily growing in the recent months, as has adoption by users and merchants. It is partly due to these successes that five members of the Nxt community saw the need to incorporate a foundation. The group has been working informally on smaller projects....
With bitcoin’s price falling, how much more loss can the market sustain and is there more short-term downside?
Hong Kong citizens are using a blockchain system to fight back against the government's attempts to erase and overwrite the history of recent years' anti-authoritarian struggles. Blockchain's potential to sustain a distributed, tamper-proof infrastructure for collective digital memory has taken on an unexpected political salience for citizens in Hong Kong. Soon after Hong Kong's public broadcaster Radio Television Hong Kong, or RTHK, revealed its intent to erase any archived content over one year old, residents hurried to save a trove of past news footage that had until now been freely....