The Bitcoin Foundation launched recently. What is it all about and what are its goals?
The Bitcoin Foundation is a non-profit corporation started by some of the most respected members of the Bitcoin community created to accelerate the global growth of Bitcoin. They follow the model of open source bodies like the Linux Foundation, or the Tor Project.
The foundation at the moment consists of five board members. During the first term the board consisted of:
- Gavin Andresen
- Jon Matonis
- Charles Shrem
- Mark Karpeles
- Peter Vessenes
The goals of the Foundation from their About page:
- To standardize Bitcoin - "As a non-political online money, Bitcoin is backed exclusively by code. This means that—ultimately—it is only as good as its software design. By funding the Bitcoin infrastructure, including a core development team, we can make Bitcoin more respected, trusted and useful to people worldwide."
- To protect Bitcoin - "Cryptography is the key to Bitcoin’s success so far. It’s the reason that no one can double spend, counterfeit or steal Bitcoins. If Bitcoin is to be a viable money for both current users and future adopters, we need to maintain, improve and legally protect the integrity of the protocol."
- To promote Bitcoin - "In the context of public misunderstandings, misinterpretations and misrepresentations, Bitcoin needs to be clearer about its purpose and technology. Allowing the community to speak through a single source will enable Bitcoin to improve its reputation."
Any person or corporation can join the Bitcoin foundation. Asides providing their name and address, one needs to pay their fees. For individual level, those are (effective as of 2012 07 23):
- 25 BTC for a lifetime membership
- 2.5 BTC for an annual membership
Companies can also apply by paying the following fees:
- 500 BTC for annual Silver Membership
- 2500 BTC for annual Gold Membership
- 10000 BTC for annual Premier Membership
Each level of membership allows an individual or corporation one vote in each of their respective voting class.