The Bitcoin Foundation seems to be getting back on track after the recent months have been filled with scandals and even being on the brink of bankruptcy. But, with a new person in charge, it looks like the focus is shifting back to where it should have been all along; promoting Bitcoin and its blockchain technology. The first step in doing so comes in the form of joining the MIT Digital Currency Initiative.
Bitcoin Core Development
One of the main issues regarding all the controversy surrounding the Bitcoin Foundation of late, is the fact there is no money left to fund the future Bitcoin Core development. Bitcoin Core developers are not cheap, yet they are an integral part of guaranteeing the future of Bitcoin from a technological point of view.
With major names, such as Gavin Andresen, Wladimir van der Laan and Cory Fields, no longer being financially supported by the Bitcoin Foundation, they have to look elsewhere to find a party that does have Bitcoin’s best interests at heart. And it looks like they have found that party, as all three Bitcoin Core developers have joined the MIT Digital Currency Initiative, in a full-time capacity.
“Our goal from day one is finding ways to support digital currency and cryptocurrency. Obviously, there are different ways to do that. One way is providing stability to core developers in a neutral place. Our hope was, in offering them positions, we would be able to offer a stable place with resources so they can focus on code.” – Brian Forde, Director of MIT Digital Currency Initiative.
It has to be said, however, that money was not the main factor in this decision, at least not according to Gavin Andresen. There are a lot of amazing people associated with the MIT Digital Currency Initiative and the project offers the brightest prospects, in terms of continuing the work on Bitcoin Core, for the foreseeable future.
Not Taking Over From Bitcoin Foundation
While these three Bitcoin Core developers have joined the MIT Digital Currency Initiative, this does not mean that MIT has taken over the Bitcoin Foundation, by any means of the imagination. Nor does this mean that the Bitcoin Foundation is no longer the centre of Bitcoin Core development, as it never held that status to begin with.
The Bitcoin Core development has centered around the open-source repository, and will continue to do so. A little known fact is that several developers who are working on Bitcoin Core are self-funded, and not all of them are paid by an external party. However, it is always a positive thing to see diversification in developer support.
So, what does this actually mean? According to Brian Forde, the plan is to get more [MIT] students involved in core developments and hopefully leveraging the resources available to MIT to do so. But, that is not all, as there are plans in motion to build a global network of educational facilities showing an interest in digital currencies.
Source: Gavin Andresen Blog
All images courtesy of DollarPhotoClub