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October 31, 2013, 03:08:36 PM |
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Cryptoanarchists pull trigger on fight over future of Bitcoin
October 31, 2013 1:27 pm by Financial Times
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The inventor of the 3D printed gun has trained his sights on Bitcoin, fronting a campaign to keep the virtual currency anonymous and beyond the reach of the authorities, writes Jane Wild.
Cody Wilson’s move hits back at efforts by the Bitcoin trade body, businesses and investors who have been working with officials mainly in the US to press for acceptance of virtual currencies and hasten their integration into mainstream financial systems.
Mr Wilson gained fame earlier this year for posting online the blueprint for making a gun using 3D printers, which was subsequently removed at the order of the US government.
He has teamed up with developers including British coder Amir Taaki to write software that makes users of Bitcoin impossible to track, pre-empting any move by regulators to trace transactions, or amend Bitcoin’s DNA, which exists online as open source code. The group also includes Pieter Hintjens, creator of financial network software and Vitalik Buterin, a writer for Bitcoin magazine and developer.
Mr Wilson said that the group, made up of activists and developers around the world, said that they were acting to “counter the legitimacy seekers”.
“The Bitcoin ecosystem is in danger of becoming a monoculture,” he said.
He and the group argue that the Bitcoin Foundation, the representative body, are compromised because they seek to maintain an independent position while also working with authorities for regulation. “It is simply inevitable that the Foundation will self-censor,” he said.
The Foundation did not immediately respond to a request for comment.
The group are looking to fund the project – Dark Wallet – through a crowdfunding campaign on the Indiegogo website.
A campaign video turns around the anarchic and libertarian possibilities of virtual currencies, presenting Bitcoin as a subversive tool to bypass the state, and referencing Julian Assange, Edward Snowden and the financial crisis.
The first tools, which include software to preserve anonymity and a simple cryptocurrency wallet, are scheduled for release in spring. Planned for later release are encrypted messaging and tools aimed at enabling the building of communities online.
Mr Taaki, who set up the first UK-based exchange, Intersango, now defunct, is leading development of the technology infrastructure for the project .
“We shouldn’t compromise on its ideals just to help a few businesses that specialise in the exchange of failing government fiat currency into the digital cryptocurrency Bitcoin,” he said.
“Asking for regulation is like Gutenberg going to the pope and asking for permission to develop the printing press.”
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