Bitcoin Community Forms Blockchain Alliance To Combat Security Issues

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Since its inception, bitcoin has been involved in controversies in one way or another, which is one of the prime reasons why it hasn’t been approved by any government as an alternative to the traditional currency. The crime rate related to bitcoins is more than any major traditional currency. To control such criminal activities, bitcoin community has decided to form a forum named Blockchain Alliance.

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Founded by Coin Center and Chamber of Digital Commerce, the Blockchain Alliance includes many companies and institutions that intend to address various public safety concerns about the blockchain and digital currencies. Jason Weinstein will serve as the Director of this Alliance. Weinstein is the former Deputy Assistant Attorney General in charge of cyber crime investigations at the Department of Justice. At present, he is associated with Steptoe & Johnson LLP as a partner.

Some of the industry players that have agreed to be a part of this Alliance include names like Chamber of Digital Commerce, MIT Media Lab’s Digital Currency Initiative and developer Gavin Andresen, Coin Center, BitFinex, BitGo, BitFury, Bitnet, BitStamp, BitPay, Blockchain, Circle, Bloq, CoinBase, ItBit, CoinX, Kraken, Xapo and Noble Markets.

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The Blockchain Alliance is closely engaged with FBI and the U.S. Marshals Service, the Immigration and Customs Enforcement Homeland Security Investigations, U.S. Secret Service, and the Commodity Futures Trading Commission. It plans to bring other U.S. agencies on board in the future.

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