Jack Dorsey has launched a legal aid fund for Bitcoin developers
Jack Dorsey, the head of the cryptocurrency payment service provider Block (formerly the company was called Square) is a recognized bitcoin fan. Dorsey was convinced that bitcoin could replace the dollar or even save the world. Now the billionaire wants to help BTC developers protect themselves from possible lawsuits. If you also need the help of lawyers, then you can get it without any problems by following the link.
Dorsey’s Letter to Cryptocurrency Developers
According to Cointelegraph, Dorsey wants to create a so-called Legal Defense Fund for bitcoin developers. Information about the fund comes from an email that Dorsey allegedly sent to a mailing list for bitcoin developers. Official confirmation is expected.
According to the email, Dorsey considers the continuing threat of lawsuits an obstacle to the further development of bitcoin. The Legal Defense Fund should remove this pressure from developers. The nonprofit organization provides lawyers, develops defense strategies, and pays the relevant bills, Dorsey writes.
Developers can accept this offer without any of their own financial costs. Initially, the foundation’s staff includes a number of lawyers and part-time volunteers. The foundation’s board of directors, consisting of Dorsey, Morkos and White, decides which cases to take on. At the initial stage, the Legal Defense Fund will coordinate the protection of various developers in the trading process.
Lawsuit against Alleged Bitcoin Inventor Wright
Previously, one case became famous. During the court proceedings, Craig Wright, who calls himself the inventor of bitcoin Satoshi Nakamoto, sued a number of developers. Wright accuses them of removing the keys to two bitcoin wallets from his computer as part of the hack; without the keys, he did not receive a fortune of 1.1 million BTC. Wright also accuses developers of violating his vision of the first cryptocurrency network with their projects. This is one of the examples when developers need legal protection.
It is not known what the volume of the legal aid fund is and where the money comes from. The email only says that Dorsey and his colleagues do not want to attract any additional external funds yet. However, this can be done later if the fund’s board of directors deems it strategically correct. Then additional funds can be used to conduct proceedings and pay employees.