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Bitcoin Foundation
and the Future
By Bruce Fenton, Executive Director
Who we are
• We don’t represent Bitcoin
• We don’t control Bitcoin
• Bitcoin is independent and decentralized
• In the pas...
Core Dev Today
• Before I joined the foundation, it was decided that Core Dev would
not be funded by the Bitcoin Foundatio...
Do we need a foundation?
• No
• Bitcoin does not need any central organizations
• The measurement we seek to use is whethe...
View as Executive Director
• Appointed on April 13.
• That day I reviewed a transparency report of how I was appointed on
...
About Satoshi
• Actually I’m going to make a suggestion to the board that we remove
Satoshi as a founding member because i...
Most common request: Transparency
• What does transparency mean?
• National Council of Non-Profits Lists 10 Items:
• Relea...
Additional Transparency
• Hash financial data on the Blockchain in a permanent record using Factom
Member Inclusion
• Use ...
Implementation
• The Bitcoin Foundation will implement every single item on these lists
– making the organizational struct...
Next Steps
• What will the Bitcoin Foundation do?
• DevCore – Conference Series
• Speakers Bureau
• Media Network
• Annual...
Thank You
• Contact
• www.bitcoinfoundation.org
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Bitcoin Foundation Update

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Transparency and future plans for the Bitcoin Foundation: speakers bureau, DevCore, core development, board elections, conferences, governance and membership engagement. From the Inside Bitcoins New York conference, April 2015 by newly appointed Executive Director, Bruce Fenton.

Published in: Government & Nonprofit
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Bitcoin Foundation Update

  1. 1. Bitcoin Foundation and the Future By Bruce Fenton, Executive Director
  2. 2. Who we are • We don’t represent Bitcoin • We don’t control Bitcoin • Bitcoin is independent and decentralized • In the past we funded some portion of core dev – the foundation never made code requests of developers
  3. 3. Core Dev Today • Before I joined the foundation, it was decided that Core Dev would not be funded by the Bitcoin Foundation • Shortly after this, it was announced that MIT has stepped up to fund three key core developers • Gavin Andreesen is remaining as Chief Scientist of the Bitcoin Foundation and we will still do all we can to support core development
  4. 4. Do we need a foundation? • No • Bitcoin does not need any central organizations • The measurement we seek to use is whether an organization can benefit Bitcoin • We believe that there is a space for benefit to Bitcoin by a non profit other than 100% commercial or lone individuals
  5. 5. View as Executive Director • Appointed on April 13. • That day I reviewed a transparency report of how I was appointed on the Bitcoin Foundation Forums • First act was a tweet “To remind Satoshi that she has a board seat per the bylaws if she produces a PGP key” • Next act was to ask for feedback on Bitcoin Foundation forums, b email, Bitcoin Talk, Reddit and ZapChain – total 170+ replies • It took 4 days to get financial records- when I received them on April 17, I tweeted and posted the results within 3 hours of receipt
  6. 6. About Satoshi • Actually I’m going to make a suggestion to the board that we remove Satoshi as a founding member because its not accurate • I’d also like to suggest we remove all founding members • Overall we should reduce power of individuals but work to remain effective using decentralization, crowdfunding and other means • Two things I did when I took the role for example was not accept salary and ask for a Board Chair to be elected – at the suggestion of Jim Harper
  7. 7. Most common request: Transparency • What does transparency mean? • National Council of Non-Profits Lists 10 Items: • Release of IRS 990 forms • Published Executive Compensation and Travel Policy • Published Conflicts of Interest Policy • Accurate solicitation materials • Financial management policies • Clear expense policies • Identities of Board Members • Info about the tax exempt status of the organization • Ensure board reviews financial records
  8. 8. Additional Transparency • Hash financial data on the Blockchain in a permanent record using Factom Member Inclusion • Use Swarm for blockchain voting • Use Coinsider-It for open discussion • Member Forums and interaction • ED access • Published Bylaws on GitHub • 100% Member Elected Board (Now in place)
  9. 9. Implementation • The Bitcoin Foundation will implement every single item on these lists – making the organizational structure among the most transparent of any organization of any type, anywhere
  10. 10. Next Steps • What will the Bitcoin Foundation do? • DevCore – Conference Series • Speakers Bureau • Media Network • Annual Meeting • Education • Bitcoin.org and grants • Strong Committees • Activities well suited for a non-profit • Study on Threats to Bitcoin • Defense of Bitcoin • Standards, Unicode
  11. 11. Thank You • Contact • www.bitcoinfoundation.org

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