The B Foundation Wants to Make Bitcoin Sexy Again

Announced at the Baltic Honey Badger bitcoin conference, the B Foundation will carry out a mix of “charitable and commercial efforts” specializing in bitcoin adoption, research, and study.

The logo of the newly formed “B Foundation.”

At the Baltic Honeybadger bitcoin conference, co-founder and former CEO of Satoshi labs, Alena Vranova, announced the launch of the B Foundation, a new, non-profit bitcoin foundation that will specialize in charity, research, and outreach.

In her announcement, Vranova said that while decentralization is at the center of bitcoin functionality, centralized efforts like the Ethereum Foundation are more effective in the short-term.

Vranova also said that many market participants reach out to “nonsense technology” that doesn’t solve their problems, when bitcoin is really all they would need.

To better explain the decline of bitcoin development, she grouped the current space into “investors” or “herd VCs” looking only for extreme returns; “hodlers” waiting for the “moon” of their preferred token; corporations who are delving into blockchain for the image and because they think bitcoin is too slow; merchants, who are unsure of how to adopt bitcoin; influencers who are “schilling tokens and stablecoins instead of looking into bitcoin;” and what she calls the “Mom” of the ecosystem, or those who are most skeptical of bitcoin in general.

According to Vranova, bitcoin development just isn’t sexy anymore. The B Foundation hopes to change this, by supporting development projects, as well as a host of bitcoin “usability” efforts.

The B Foundation model, as presented in their launch:

The B Foundation will be based in Liechtenstein, and currently lists ten members on their website, including Adam Back, Elizabeth Stark, Giacomo Zucco, Pavol Rusnak, Max Keidun, Jameson Lopp, Bryan Bishop, and Francis Pouliot.

Some important players, like Jimmy Song, have come out in support of the foundation, while others, like Olivier Janssens, ex-Bitcoin Foundation Board Member feel that the organization is headed in the same direction as the ill-fated Bitcoin Foundation.

The B Foundation is coming at a time when crypto non-profits and projects in general have been on the rise as of late, such as Pinkcoin, GiveCrypto, and AidCoin.