Happy Wednesday, Blockfolians
The Human Rights Foundation has come out in strong favor of privacy in bitcoin.
Today they announced a new Bitcoin Developer Fund. Its first $50,000 grant is being awarded to freelance CoinSwap developer Chris Belcher.
Human Rights Foundation @HRFAnnouncing @HRF's Bitcoin Development Fund: a privacy-focused campaign to support developers making Bitcoin a safer tool for activists and journalists around the world. Our first grant is to @chris_belcher_ and his exciting work on Coinswap! Learn more: https://t.co/2B9pfERJv7
CoinSwap is a mixing technique invented in 2013, and is part of a number of different approaches to strengthening the privacy and pseudo-anonymity in the bitcoin network.
The move is important because technologies like CoinSwap and CoinJoins exist in a legal gray area. As Leigh Cuen put it in her piece for CoinDesk:
However, some compliance officers at leading analytics companies and crypto exchanges treat mixed bitcoin as inherently suspicious, which influences how legal authorities view the technology as well. It remains to be seen if CoinSwap features will suffer from the same stigmas as the incumbent method, CoinJoin.
We’re excited to see the HRF take a stand on these important issues.
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Highly Relevant Reading
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A Really Big Number We Should Be Paying Attention To
That’s the approximate value of the transaction fee sent alongside a $133 dollar ETH transaction today. What the heck?