W3C home > Mailing lists > Public > public-webpayments@w3.org > September 2013

Re: Tradehill Bitcoin exchange shut down for 2nd time in 2 years

From: Manu Sporny <msporny@digitalbazaar.com>
Date: Mon, 09 Sep 2013 23:05:58 -0400
Message-ID: <522E8C96.50703@digitalbazaar.com>
To: Charles Evans <cevans@chyden.net>
CC: Web Payments CG <public-webpayments@w3.org>
As an aside, but an important one: Charles, please tell this group about
the time that you sent Bitcoins to save someone from a Ghanaian jail
(the story you told at the Inside Bitcoins conference). It's a great
example of the sort of thing we're trying to support at a larger scale here.

On 09/09/2013 10:18 AM, Charles Evans wrote:
> In response to both the Bono Declaration, "Capitalism takes more
> people out of poverty than aid," and the Tradehill/IAFCU blowup, some
> of us in South Florida have taken the first steps to establish a
> non-profit membership organization with plans to establish a
> appropriate credit union, once we have enough members to justify
> this.
> http://bitcountant.com/foundation-for-conscious-entrepreneurship/

We've been exploring a similar path to creating a Federal Credit Union
for Internet professionals. One of the requirements of the credit union
would be to compel it to use new or experimental technology and
specifically work with startups in the financial space. We were going to
try to band together with the Bitcoin, Ripple, and Web Payment
communities to create a large crowdfunding campaign (lots of press)
around creating what PayPal was supposed to turn into. The campaign
would be used mostly for media exposure to drive initial deposits into
the credit union.

We should definitely talk more about this. Creating an institution like
this is going to be a necessity if we want to realize some of the goals
of the Web Payments community.

-- manu

Manu Sporny (skype: msporny, twitter: manusporny, G+: +Manu Sporny)
Founder/CEO - Digital Bazaar, Inc.
blog: Meritora - Web payments commercial launch
Received on Tuesday, 10 September 2013 03:06:28 UTC

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