The Bitcoin Foundation has revealed that it’s going to open an office in London in the next couple of weeks.
A non-profit trade organisation, it was founded in 2012 to standardise, protect and promote the use of Bitcoin on a global scale. Bitcoin is a peer-to-peer payment system that creates and uses bitcoin, a form of online currency that isn’t controlled by a single entity – like a central bank.
It will use the London office to promote and demonstrate the ways in which brands can leverage advantages by adopting bitcoin as a form of currency.
The Bitcoin Foundation currently has more than 500 members, with the majority of them organisations who’ve based their business around the currency.
Jinyoung Lee Englund, the Bitcoin Foundation’s director of public affairs, stated: “Bitcoin is a global protocol and to better represent our international community, we made the decision to open a UK office last December (2013).”
Executive director of the Bitcoin Foundation, Jon Matonis, has also spoken about the decision to open an office in the capital.
Last December, he said: “London is one of the most international cities in the world and the foundation will be best positioned to fulfilment of its mission to protect, standardize, and promote the use of Bitcoin worldwide.”
By: Kirsty MacGregor
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