Bitcoin Cash Client Launches Fundraising Effort as Miner Backtracks From IFP

Bitcoin Cash Client Launches Fundraising Effort as Miner Backtracks From IFP

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The main node client for Bitcoin Cash has announced a ‘2020 Business Plan Fundraising’ after an Infrastructure Funding Plan (IFP) fell through.

They are not asking the public for donations in this effort – although ABC does have a BCH address for donations by the public – but sponsorship from exchanges, businesses and miners which they say would get concrete benefits in return.

“Bitcoin ABC has a strong funding plan that offers Bitcoin Cash miners, exchanges and other businesses the opportunity to sponsor Bitcoin ABC infrastructure development and get concrete benefits in return,” they say, adding:

“We seek your feedback and participation in our sponsorship plan. We stand ready to hear your needs and see how Bitcoin ABC can help you achieve your goals.”

We asked George Donnelly, who is in charge of this fundraising effort, what benefits they would get, but he said they are not doing interviews yet, “Bandwidth over here is very limited at the moment.”

We wondered if they get equity in return, but his response was to say: “We may be ready for interviews in a couple weeks.”

Prospective sponsoring miners, businesses or exchanges are being offered a private presentation on what this business plan is exactly, with little detail provided publicly except they state “Bitcoin ABC is assembling a team of world-class engineering professionals to achieve this mission [of a Bitcoin that scales].”

This announcement is made after a controversial proposal to fund development through block rewards was shelved following much opposition from a considerable section of Bitcoin Cash.

That includes Roger Ver, whose opposition was cited by Jiang Zhuoer of BTC.TOP when he stated he will now be voting against the proposal he himself announced.

So a split and what would have been a considerable change in BCH has been avoided, with the ABC client now seemingly going the more traditional route of fundraising.

Copyrights Trustnodes.com

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