If there is one influential person who has never showed any lack of support for cryptocurrencies and Bitcoin, in particular, it is Sir Richard Branson. He has been backing Bitcoin for years and has even offered people the possibility to go into space with their virtual money. Today, we see him opening up the gates of his private island (Necker Island) to several Bitcoin-minded people with one goal: To define the future of cryptocurrencies. Defining the future of Bitcoin is a heavy statement. We see a lot of gatherings each year where people talk and think about the issues of Bitcoin. These meetings usually amount to the same results. Bitcoin’s weaknesses are often being discussed. Finding valid solutions are the real challenge, and that is where most of these meetings tend to fall short. One can only hope this won’t be the case for the Block Chain Summit. With the following opening line on their website, the people are entitled to have great expectations: “We are gathering top thinkers in the world of Blockchain, Digital Currency and Bitcoin to help DEFINE THE FUTURE. Come visit with Sir Richard Branson on his private island for a set of intimate discussions highlighting critical issues and solutions and to lay out the framework for a world where the humankind is fully benefiting from the amazing technology behind the Blockchain.”

Critical audience

As we all know, the Bitcoin community is not a naive one. When news about the Summit reached Reddit, some of the users immediately shared their thoughts, and they were not too positive about the event. Pennyservices stated:

“Meet the new boss. Same as the old boss… Groups of millionaires and billionaires meeting Davos style to determine what is best for Bitcoin doesn’t sound particularly decentralised. Unlike most people here, beardy Branson owns a bank. I am still hoping he uses that to support digital currency businesses especially in the UK, who need someone that won’t shut their account as soon as the compliance team starts complaining.”

Trowawayatwork followed up on that one with: “To get there to his private island, you have to float there on hopium.”

It is a chance for privileged and rich people to talk about a great, new technology. It can very well be a good thing, but it skips the real purpose of cryptocurrencies. They were invented for the people. The idea of having the “1%” talk and decide what is good for the masses is exactly what Bitcoin tries to fight. Maybe Branson and his team should give people a chance to send in their concerns and what they feel is a good step forward for Bitcoin. These findings can, of course, be filtered down to what seems rational and what not but it would give the world a chance to have a say. That would be a real change.

In any case, we can only hope that the Block Chain Summit delivers solutions that benefit Bitcoin and its original dream. If you want more information about the event and its speakers, you can visit the Block Chain Summit website.

Images from Wikipedia and Wikimedia.