Skip to main content

The Bitcoin Foundation Welcomes BitPay as Gold Member

- Bitcoin Foundation Individual Seat Candidate Transcription: Noah Silverman

The Bitcoin Foundation, an organization focused on growing the Bitcoin economy, has welcomed another Gold Member to its ever-expanding community of Bitcoin innovators and supporters. BitPay, the newest Bitcoin Foundation member, has shown continuous support since the dawn of virtual currency. As a popular Bitcoin payment processor, BitPay has given businesses across the globe the ability to accept Bitcoin as payment. Additionally, the company’s key spokespeople have also played a large role in the future of Bitcoin in the United States and abroad, speaking out and spreading knowledge of the benefits of virtual currency.

As a Gold Member of the Bitcoin Foundation, BitPay will join other key contributors and innovators within the Bitcoin space. In a recent press release, Bitcoin Foundation Executive Director Jon Matonis stated, “BitPay paved the way in international merchant processing for the Bitcoin community; their clients rely on BitPay as a trusted and responsible partner. That trust will keep the Bitcoin ecosystem growing … We look forward to helping their efforts for global bitcoin adoption.”

BitPay was founded in 2011 by Stephen Pair and Anthony Gallippi, and since then has grown to service over 26,000 merchant clients. Headquartered in Atlanta, GA, with additional locations in New York, San Francisco and Buenos Aires, the company specializes in e-commerce, B2B and enterprise solutions for Bitcoin. Additionally, the company is also fostering open source development with its platform. In order for Bitcoin to continue to be adopted globally, payment security must be at the forefront, which is why BitPay is implementing secure standards such as Bitcoin Payment Protocol and Multi-Signature Transactions. With the support of the Bitcoin Foundation, a growing global community can continue to make payments that are reliable and secure.

The Bitcoin Foundation thrives to standardize, promote and protect the use of the technology around the world, which aligns perfectly with both past and future work done by BitPay and its expanding number of partners. The Foundation and its members envision the potential of Bitcoin at a global level. By focusing on Bitcoin’s technology and community, citizens of countries large and small can increase purchasing power, while businesses of all sizes create additional opportunities for growth and economic sustainability.

For everyone in the Bitcoin community, the Foundation’s efforts in growing adoption, education. and fundamentals have played a large role in the future of the Bitcoin economy. We have witnessed many challenges and barriers to entry as Bitcoin has evolved – hackers, inaccurate reporting, and malicious network attacks. Because these events play a role in how the world views Bitcoin, many view the Foundation as instrumental in legitimizing Bitcoin and bringing decentralized money to mainstream adoption.

For those willing to accept it, Bitcoin has the capability of revolutionizing the global economy. At the root of Bitcoin lies core principles of independence, openness and establishing a non-political economy. These principles are underpinned by peer-to-peer organizations like the Bitcoin Foundation and the increasing support from its members and partners. Bitcoin and its virtual currency counterparts have made stunning progress, but must continue to forge the path ahead to grow adoption, the community, and the global economy.