Bitcoin Foundation Gets $200,000 In Donations For Crypto Education Awareness

Bitcoin has been losing their stance as being the dominant force in the crypto market since January last year, losing 80% of their strength. Still, they are one of the most well-known coins in the market, which gives them some significance in discussing the market. The Bitcoin Foundation has decided to capitalize on the popularity, and start their initiative to inform the public, regulators, and lawmakers about the industry by setting up training programs and seminars.

At this point, the Bitcoin Foundation already has received a total of $200,000 for the plan from now until 2019. Part of that commitment includes $100,000 from Brock Pierce, who is the chairman of the Bitcoin Foundation. The remaining $100,000 came from other members on the Foundation’s board. The biggest roadblock that the Foundation has faced in the past has been a lack of funding, and these funds will help to increase funding beyond the 2019 plans. One of the efforts will be to establish operations around the world.

By establishing local outposts, the Foundation can speak on local lobbying, techniques of educating and training lawmakers in crypto, supporting regulators, and other areas of interest.

According to executive director Llew Claasen of the Bitcoin Foundation said,

“Most cryptoasset projects have shared objectives. It’s unfortunate that for too long the education, media and consumer outreach and lobbying efforts of projects have been siloed and duplicative. Fundamentally, these new projects have many things in common with each other. They came about after the creation of Bitcoin on the back of the availability of alternative blockchain technologies, different views on blockchain architectures, philosophical differences and people’s inherent desire to contribute where their effort would be most valued and incentives are greatest. They’re all children of Bitcoin and we want to embrace this diversity in our industry and represent these shared interests.”

Claasen continued, saying that the industry is still “young,” which means that there is still a lot left to understand about it. Without learning more about the technology and the market, this industry is at risk for being overly regulated, just because it is misunderstood.

He also said,

“We continue to believe that these technologies hold massive potential for increasing levels of low cost, peer-to-peer economic participation. There is fortunately also a growing realization amongst project maintainers that it doesn’t make sense to fight each other for mind–or market–share at this stage of the industry, but rather to pool education and lobbying resources and stand together against very real external threats to the industry.”

If anyone wants to donate to the Bitcoin Foundation and their efforts, visit bitcoinfoundation.org/donate/.