Bitcoin Foundation elects Brock Pierce as Board Chairman

The Bitcoin Foundation has appointed venture capitalist Brock Pierce as the chairman of the board of directors. He was elected by a 3-0 vote earlier this week, with board member Olivier Janssens abstaining. He was nominated by the foundation's board member and BTC China CEO Bobby Lee, with whom he was elected to the organisation in May last year.

In interview, Pierce suggested that his responsibility will now be to work with recently appointed executive director Bruce Fenton as he formulates the organisation's strategy for 2015 and puts effort to achieve consensus on how the non-profit can move forward on rebuilding its image.

"A lot of us believe in the foundation and we believe it can be effective at advocating on behalf of the industry. Some people might say there are aspects that are broken. I say it's a lot harder to be part of the solution than the problem, that's why I ran for the board", Pierce told CoinDesk.

He emphasized that it is a non-paid position and would require more time and energy on his part, a proposal he said he only accepted with some apprehension and with the understanding that someone needs to step up for the greater good.

"Someone's got to do it," he concluded.