B Foundation: a new Fund representing bitcoin?

[Paha87]

 

This weekend, a new organization called "B Foundation" was announced at the Baltic Honey Badger conference dedicated to bitcoin. At the event, Satoshi Labs co-founder Alena Vranova released information about the" new Foundation", which will combine" charitable and commercial " efforts.

This weekend, cryptocurrency supporters were surprised to hear about a new Association set up to strengthen bitcoin (BTC) adoption and the Lightning network (LN). The surprise is due to the fact that many cryptocurrency enthusiasts believe that funds are mixed as oil and water in the ecosystem along with the controversies surrounding the original Bitcoin Foundation.

Despite public opinion about bitcoin funds, a group of self-proclaimed "crypto thinkers" formed an Alliance called "B Foundation". According to the slides of this event, the new Association will include Jameson Lopp, Elizabeth stark, Adam Beck, Pavol Rusnak, Alena Vranova, Vale Panda, Alex Petrov, Francis Puliot and Giacomo Zucco.

According to the transcript of the questionnaire, the main attention of the new Association will be paid to the development of BTC and LN. The Foundation will request donations as well as conduct "charitable and commercial" activities to "match donors and projects."

According to Alena Vranova:

The B Foundation will be based in Liechtenstein due to the support of bitcoin by the local government. The Foundation will be mixed: charitable and commercial. The management will be based on the Board [of Directors] and the Executive team (Director, Executive assistant, etc.), and the Board will operate without pay.

According to Twitter accounts, most people had doubts and skepticism about the announcement. However, some people liked the idea of B Foundation.

Former Director of the Bitcoin Foundation Bruce Fenton tweeted: "Congratulations on the opening of the B Foundation, a new nonprofit organization. Some great people with a solid reputation for bitcoin."

"As a Board member of the Bitcoin Foundation, it's terrible to see maximalists protecting the new Fund," Olivier Janssens explains on Twitter, adding:

The only way is to have competing projects for individual areas. Giving one organization all these tasks = scary idea.

Openbazaar CEO Brian Hoffman also expressed his opinion:

I support efforts to educate and promote the use of bitcoin or related technologies, but the idea of having some sort of canonical organization that positions itself as the "protector of the Protocol" is contrary to the nature of bitcoin itself.

Of course, the crypto community will just have to wait and see what this Fund plans to do with donations. It is worth noting that during the conference, B Foundation collected bitcoins worth only 850 us dollars. According to the b Foundation's Twitter page, more announcements about the group's actions will be made in the near future.

Link to the source of information (Russian) - https://altstake.io/news/b-foundation-novyy-fond-predstavlyayuschiy-bitkoin