Some of the biggest names in the Bitcoin industry have united to form a new consortium dedicated to strengthening Bitcoin’s long-term security.
The group, called the Bitcoin Security Consortium, includes Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets, Galaxy, and Strategy, according to a Thursday statement.
Under the initiative, members have collectively pledged $15 million over three years to support developers and researchers working on Bitcoin’s long-term security, including preparations for the future era of quantum computing.
Coordinated by Brink Executive Director Mike Schmidt, the consortium will also act as a central source of reliable information on Bitcoin security developments for investors, the public and the media, while allowing each member to direct its own funding independently.
The consortium stressed that it will not influence Bitcoin’s protocol or governance, saying development will remain decentralized. It added that although quantum computers capable of threatening Bitcoin do not yet exist, supporting research into post-quantum cryptography is a prudent long-term investment.
