BlackRock, Coinbase, Strategy and others jointly established the Bitcoin Security Alliance and promised 15 million US dollars to fund core developers and quantum-resistant cryptography research over three years

According to the news, nine financial institutions and Bitcoin companies announced the joint establishment of the Bitcoin Security Alliance. The founding members include Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Asset Management, Galaxy, and Strategy, covering the entire chain of institutions such as escrow, trading, infrastructure, payment, and asset management.

The consortium promised to provide a total of $15 million over the next three years to fund developers and researchers in the field of Bitcoin security, including long-term work to prepare Bitcoin for the future era of quantum computing. Each member independently decides which developers, researchers, or organizations to invest their funds in. The day-to-day operations of the alliance are coordinated on a voluntary basis by Mike Schmidt, the executive director of Brink, a non-profit organization that funds Bitcoin open source developers.

The coalition has made it clear that it does not establish or direct the Bitcoin protocol, does not take a stand on changes to a specific protocol, and does not represent Bitcoin or its developers — Bitcoin development is still done by a global decentralized community of contributors. Its position is to follow the model of industry organizations supporting open source software for a long time, providing resources and attention to developers without controlling the underlying work.

Strategy CEO Phong Le said that as a long-term holder, ensuring the security of the Bitcoin generation is our greatest incentive; Robert Mitchnick, head of global digital assets at BlackRock, pointed out that the work of Bitcoin's core developers is extremely important, and this promise will provide important additional funding for Bitcoin's long-term security needs. The Alliance will also serve as a reliable source of information for investors, the public, and media in the field of Bitcoin security, and plans to publish and continuously update materials related to Bitcoin security in the coming months.

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