BitBoy Crypto founder Ben Armstrong has outlined plans to launch the BEN Coin Foundation to promote the adoption of cryptocurrency. Speaking in a video, Armstrong said BEN Coin would have a multi-faceted approach, focused on four areas: news and information, lobbying politicians, public education, and marketing. The foundation’s liquidity pools would be used entirely for promoting cryptocurrency adoption, while an advertising campaign would be launched at the Bitcoin Miami conference. It is hoped partnerships, workshops and eventually international expansion could be on the cards for the project.
BEN Coin Foundation: The Mechanism of Crypto Adoption
Cryptocurrency adoption has been a topic of discussion in the crypto world for years. Many have tried, but few have succeeded in making it a reality. Max Santana from BitBoy Crypto believes that the best way to achieve adoption is through a four-pronged process. This process includes unbiased news networks, lobbying efforts for crypto-friendly regulations, educational resources, and a platform to fund pro-crypto candidates. The BEN Coin Foundation aims to be the mechanism for achieving these goals and making crypto adoption a reality.
Establishing the BEN Coin Foundation
Max Santana plans to establish something called the BEN Coin Foundation. He will be the chairman of the foundation and hopes to eventually transition it to a DAO. The foundation will focus on the four-pronged process to achieve crypto adoption. BEN Coin will be the funding source, with all profits going towards crypto adoption.
Unbiased News Networks
In the pursuit of crypto adoption, it is crucial to have unbiased news networks. Cointelegraph and CoinDesk are the two most prominent news platforms in the crypto world, but they have their flaws. Cointelegraph’s founder, Grisha Fishman, has a history of promoting Bitcoin and altcoins when he was an early miner of Bitcoin. CoinDesk, on the other hand, accepts paid press releases, which undermines their credibility as a news source.
Max plans to establish an unbiased, non-profit news network that is community-driven. While they will offer other services within the site to generate income, the news division will remain non-profit and unbiased. Partnering with other reputable news sources, such as Decrypt, is also an option.
Lobbying Efforts for Crypto-Friendly Regulations
The United States is the primary focus for the BEN Coin Foundation’s lobbying efforts. If the US is to accept and embrace crypto, they need proper regulations. Max plans on pouring in as much money as possible towards lobbying efforts and endorsing pro-crypto candidates. This will help create a government that is favorable towards crypto.
The average person has a limited understanding of cryptocurrency and blockchain technology. Education is crucial in gaining widespread adoption. A comprehensive course on crypto should be introduced in colleges, high schools and middle schools. An elementary-level course on simple financial concepts could also be included. The BEN Coin Foundation will also hold workshops, which they will fund and provide materials for.
Catching Up to Crypto, a book by Max Santana, will be made available in every public library in America. Later on, it will be added to high school and college libraries. Max won’t take any profits from the book sales that come from the liquidity pool, as he believes that this sends the wrong message.
The BEN Coin Foundation plans to revolutionize the way we approach crypto adoption. By focusing on unbiased news networks, lobbying efforts for pro-crypto regulation, education, and funding pro-crypto candidates, they hope to achieve their goal. BEN Coin will provide the funds needed to make this a reality. Once the foundation is established, Max Santana plans to release a roadmap for this year, with a new one for next year being released in Q4.