Eidoo Card Teal
Eidoo Card Purple
Eidoo Card Black

Introduce your digital currencies to the real world.
Experience DeFi on demand with the Eidoo Card

Pre-order yours and enjoy exclusive rewards,
including up to 10% crypto cashback.

Bitcoin Cash addresses the global crisis by financing Bitcoin ABC
Bitcoin Cash addresses the global crisis by financing Bitcoin ABC
Blockchain

Bitcoin Cash addresses the global crisis by financing Bitcoin ABC

By Lorenzo Dalvit - 2 Apr 2020

Chevron down

Here comes the announcement of a successful campaign for the financing of the Bitcoin Cash client implemented by Amaury Séchet, who declares:

“With the financial crisis looming, the importance of digital cash will become more critical than ever before. Bitcoin Cash has the best chances to make this a reality, and the window of opportunity is now. However, Bitcoin Cash’s infrastructure has been underfunded, which has led to brain drain and long standing issues left unaddressed. If the situation doesn’t change, then Bitcoin Cash might see a once-in-a-decade opportunity pass by without seizing it”.

To date, $1.44 million out of the $3.3 million requested (14,500 BCH) have already been raised and the campaign will last until the end of April.

Bitcoin ABC funding goal

Amaury Séchet has always been fascinated by the principles of independence from the state. His consistency has led him to want a protocol like that of Bitcoin Cash, which places monetary independence from the state and from the banks as the first fundamental function

Alongside Roger Ver, the ambition of the project led by Séchet has clearly defined connotations.

“If you always do the opposite of what the state tells you, then they control you just as much as these you call sheep.

Freedom is found in independence from the state, not submission or opposition”.

Brain drain from Bitcoin Cash

A brain drain caused by funding difficulties of developers is a risk that all open source projects incur.

In the blockchain world, it is well known that the dedication and ideal towards such a disruptive technology have motivated a generation of developers who have also become early adopters of cryptocurrencies.

The big price increase in the early years has made many of them financially free. 

The commitment to the first generation’s project is therefore also dictated by a code that is speculatively able to finance those who believed in it.

BCH’s great ambitions and a second-generation lagging behind in terms of timing lead to an urgent need for financial sustainability.

Bitcoin Cash, in seeking its own identity, mainly follows the road map dictated by the Bitcoin ABC client, Bitcoin Cash’s native code that allowed BHC to fork BTC in 2017.

If ABC’s lead developer is Amaury Séchet, for some time now a new figure has been emerging among ABC’s line-up with the role of head of business development, George Donnelly.

The project to provide funding through a fee for miners on the mining proceeds of Bitcoin Cash has apparently failed. The new development model just presented in a more traditional form could be a good start for the Bitcoin Cash project. 

 

Avatar
Lorenzo Dalvit

Blockchain enthusiast tutor, expert in sales and marketing, social community manager, artistic director, musician, lover of disruptive paradigms and life. All my skill are about human interaction and connection

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.