At the conference of the Baltic Honeybadger 2018 in Riga founder BHBnetwork Giacomo Zucco and cofounder Czech startup SatoshiLabs Alena Corvids introduced the organization, The B Foundation, the purpose of which will be to attract funding for the development of the bitcoin ecosystem and Lightning Network.

It’s happening!

We’re announcing “The B” with the kind support of @AlenaSatoshi @adam3us @starkness @giacomozucco @pavolrusnak @slushcz @francispouliot_ @keidunm @kanzure @lopp and more soon to be announced..

— The B (@TheB_Foundation) September 23, 2018

“In the long term, bitcoin does not need any centralized effort to succeed. If we talk about the short term, without coordination, we observe a waste of resources, time, money, talent: developers are wasting their skills on Ethereum and other projects. Improper allocation of resources slows down the development of bitcoin and we need to take measures”, — said Zucco.

In addition to the main direction B Foundation also intends to oversee the development of privacy-oriented projects, marketing of bitcoin and solutions in usability and user experience.

The organization also promised, if necessary, to ensure donor anonymity.

“The Board of Directors and consultants will work exclusively on a voluntary basis. We won’t buy a Lamborghini”, — said the founder BNBNetwork.

Moreover, the B Foundation has the potential to Fund various bounty programs and scholarships for students.

“We gladly accept and altcoins, although immediately translate them into bitcoin” — said Zucco.

The initiative is already supported by Blockstream CEO Adam Buck, CEO Lightning Labs Elizabeth stark, a former engineer at BitGo, Jameson Lopp, Bitcoin Core developer Brian Bishop, CEO of the exchange HodlHodl Max Kaidun and other known members of the community.

Earlier, Giacomo Zucco presented the prototype of the Protocol tokenization of the assets of RGB, allowing you to create different classes of digital financial instruments over the blockchain of bitcoin.