A Bitcoin Developer Fund Focused On Human Rights

Plus more news from the wacky world of the Fed

Happy Wednesday, Blockfolians

The Lede

The Human Rights Foundation has come out in strong favor of privacy in bitcoin.

Bitcoin Versus Big Brother: Financial Rights Are Human Rights ...

Today they announced a new Bitcoin Developer Fund. Its first $50,000 grant is being awarded to freelance CoinSwap developer Chris Belcher.

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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Final Thought