Proposal To Form China’s First Bitcoin Advocacy Group To …

Established in 2012, the Bitcoin Foundation has quite a few titles It is a top trade organization, an unofficial organisation to represent the interests of Bitcoin, a Bitcoin lobbying group and one of the worlds leading advocacy groups for the cybercurrency, to name a few. Although not everyone in the Bitcoin community agrees as to what the Foundations role is, there is little doubt that it is one of the most high-profile nonprofit organizations in the space, with some of the most recognizable Bitcoin luminaries serving on the board.

In a move reminiscent of the Bitcoin Foundations original establishment, a man named Ryan Xu has called for the formation of a China-focused bitcoin advocacy group.

Originally posted on Yibite.com, the Chinese bitcoin news website on 8th November, Xus proposal generated a moderate amount of social media comments in its immediate aftermath. Though judging by peoples response, the interest was not strong, such a proposal nonetheless raises questions as to whether China needs its own bitcoin advocacy group, and whether such an organization would be viable in the current regulatory environment.

In his 930-character long proposal for a Bitcoin Development Foundation (BDF), Xu outlines five issues that it seeks to tackle:

1. The China bitcoin Industry is still in an early stage, companies in the space need support; 2. The Chinese bitcoin community lacks solidarity. There needs to be more people who are dedicated to the development of the community; 3. The Chinese bitcoin community has little voice in the mainstream media, which is dominated by negative news and commentary. 4. There was little communication between the Chinese bitcoin community and relevant organizations. Communication with government and businesses needs to be strengthened; 5. The Chinese bitcoin community lacks communication with the rest of the world. It needs to be kept up to date with developments in the international bitcoin community, and learn more from their experience.

Although these general issues are widely acknowledged, there is a lack of consensus as to whether a new Bitcoin Foundation is the answer.

Relationship with Bitcoin Foundation

In an email exchange with Xu on November 26, he introduced himself as Chief Strategy Officer of Bitcoin Group, an Australia-based bitcoin company. Yet he is probably better known in the Chinese Bitcoin community for his alias (Martian), and for being a prolific bitcoin commentator who frequently publishes opinion pieces on the Chinese language bitcoin media.

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Proposal To Form China's First Bitcoin Advocacy Group To ...