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A Blockchain Alliance has been formed – not everyone is happy

By NexChange
FinTech

As part of the industry’s ongoing fight for legitimacy, a group of blockchain companies have decided to club together and form the Blockchain Alliance in order to better aid law enforcement. Some in the industry are alarmed.

Created by Coin Center and the Digital Chamber of Commerce, two Washington D.C. trade associations, the Alliance is a private sector initiative intended to create a forum whereby enforcement agencies and regulators can share information and get technical assistance from the industry on blockchain.

Some 16 companies and organizations – see the release for a full list – have agreed to work with a several government enforcement groups including:

The FBI
U.S. Marshals Service
U.S. Secret Service
Immigration and Customs
Homeland Security
Commodity Futures Trading Commission

Needless to say, in a post-Snowden world, this does not chime well with some liberty-loving bitcoiners. Knowing this, the Alliance has stressed that it will not be a backdoor for the government to get info on companies and their customers but rather a “higher level discussion about typologies, trends, and technical issues.”

That said, there is still some skepticism and debate on both Reddit and on the Bitcoin community forums over the extent to which the bitcoin community should be engaging with The Man. People like Bitcoin foundation director Bruce Fenton and Bitcoin Foundation chief scientist Gavin Andresen have weighed in on either side of the argument. And then there are the twitter reactions:

New Blockchain Alliance is a big step to ensure Bitcoin is used for innovation, not crime. Well done, @coincenter. https://t.co/lTrkf8DEeD
— Rep. Jared Polis (@RepJaredPolis) October 22, 2015

Blockchain Alliance -- at first glance, a profoundly bad idea https://t.co/Vini88Nt7g
— Bruce Fenton (@brucefenton) October 22, 2015

Value your privacy? DO NOT use any of the products or services listed in this Article. https://t.co/VfeCLTYIlN

— Samourai Wallet (@SamouraiWallet) October 22, 2015

@lightcoin Fintech is getting into Bitcoin that is why we nee

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