CHEYENNE, Wyo.--(BUSINESS WIRE)--Dedicated members of the DigiByte blockchain community announced today the formation of the DigiByte Alliance, a groundbreaking philanthropic approach to creating economic support for the decentralized blockchain. The mission of the DigiByte Alliance is to steward the acceleration and innovation of the DigiByte blockchain by focusing on raising funds for development, maintenance, and education. Charitable contributions to the foundation can be made in both cryptocurrency and fiat currency.
The DigiByte Alliance is the culmination of the efforts of several longstanding and devoted DigiByte community members committed to creating a platform through which individuals, institutions, corporations, communities, and governments can come to better understand and interact with DigiByte blockchain technology.
Incorporated in Wyoming in March 2021, the DigiByte Alliance is in the process of securing 501(c)(3) tax exempt status from the Internal Revenue Service. Assuming the DigiByte Alliance’s application, filed on July 13, 2021, is approved, both cryptocurrency and fiat contributions to the DigiByte Alliance will be eligible as tax deductible.
Today, the DigiByte Alliance also announced a full slate of Board members:
Michelle Dougherty, a former U.S. Department of State attorney and former member of the DigiByte Awareness Team, will serve as President. Laura Taylor, a DigiByte community leader, Frederick Gablemann, a core member of the development team for DigiByte, and John Song, a finance and investment professional, will all serve as Vice Presidents to the Board. Jana Sulpizio, a former attorney, and former member of the DigiByte Awareness Team will step into the role of Secretary, with David Pope, cofounder of the Wyoming Blockchain Coalition and former member of the Wyoming Legislative Blockchain Task Force, serving as Treasurer. Crystal McDonough, founder of McDonough Law, a Colorado and Wyoming corporate law firm with expertise in both commercial and blockchain industries, will serve as General Counsel.
DigiByte, an enhanced derivative of the Bitcoin blockchain, is a peer-to-peer decentralized public payments and communications infrastructure developed and deployed as a benefit for the general public. As an open source blockchain akin to a public utility, the DigiByte blockchain will benefit from public financial support that ensures its continued growth and vitality. Much like a park provides a landscape for public recreation, a public blockchain provides a landscape for economic recreation, growth, and innovation that can be characterized as charitable purpose technology. The DigiByte Alliance regards DigiByte as a key foundational technology in the emerging digital economy and seeks to secure its value for future generations.
Thanks to thousands of dedicated open-source developer volunteer hours over the past seven years, DigiByte is now an open-source network that as recently as last spring attained approximately two billion dollars of value. As the utility of the DigiByte blockchain evolves, the security and support of its ecosystem must also strengthen. As a public infrastructure, there is no single DigiByte protector or guardian to take on this immense task. This is a distinguishing feature of DigiByte: it has no central, single point of failure.
“As the world stands on the precipice of the digitization of the transfer of value, the DigiByte Alliance is committed to working to serve as an advocate working to inform the world about the value of a decentralized blockchain with unparalleled security, speed, and low transaction fees for use in the emerging digital economy – an economy waiting for solutions like DigiByte upon which to build,” said DigiByte Alliance President, Michelle Dougherty.
Decentralization is paramount to the ongoing success of DigiByte. The DigiByte Alliance is committed to serving as a committed partner to the community working to support a strategy to intelligently promote adoption of DigiByte’s underlying technology. The DigiByte Alliance regards itself as one of many avenues of support in DigiByte’s worldwide decentralized community and hopes to see many other nonprofit corporations and foundations around the world created to accelerate its use and adoption.
About the DigiByte Alliance
The mission of the DigiByte Alliance is to accelerate the growth and adoption of DigiByte. The DigiByte Alliance was formed to help build the decentralized DigiByte blockchain infrastructure for the public good, with a focus on serving the users of the DigiByte protocol and blockchain. The DigiByte Alliance is committed to aiding the development and maintenance of this decentralized public infrastructure because security, efficiency, and transparency in and access to financial transactions and data integrity are fundamental to guaranteeing the dignity of individuals, human rights, and freedom and democracy in society. Learn more at www.dgballiance.org.