A group of Bitcoin developers along with the makers of btcsuite have, in an announcement today, revealed that they are building Decred, an alternative digital currency. The project, according to the press release, is seen as one to address “the issues of project governance and development funding” that is seen as prevalent in Bitcoin today.
Citing concerns of an increasing centralization of power in the Bitcoin project and the prioritization of interests of those who fund the project, a group of Bitcoin developers and the creators of btcsuite have started building a new, alternative currency called Decred.
In a press release, Jacob Yocom-Piatt, CEO of Company 0, a firm that has funded development of Bitcoin since 2013 said:
Many people may not know that despite the technological decentralization Bitcoin has brought the world, there are serious and growing issues of centralization that rule decisions made about the present and future of the project. The Bitcoin software is controlled by a small group of people who decide exclusively what can and cannot be changed.
This is in part due to a lack of mechanisms and pathways for funding development work directly from the community, and as a result Bitcoin development