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Mastercoin Foundation, Bitshares and ColoredCoins Form Self-Regulatory Organization to Ensure Continued Free Operation of New Bitcoin Applications and Protocols

LAS VEGAS, NV--(Marketwired - Dec 11, 2013) - INSIDE BITCOINS - Mastercoin Foundation, Invictus Innovations (Bitshares, Protoshares), and ColoredCoins have announced the formation of a self-regulatory organization (SRO) to ensure the continued free operation of new decentralized applications and protocols in the Bitcoin ecosystem. The rapid growth of Bitcoin has led to the building of additional user layers and interfaces, including non-currency uses such as securities, lending, trading assets, bartering and prediction markets.

"Bitcoin technology can be used to disrupt many other market segments," said Daniel Larimer, CEO of Invictus Innovations. "CoDA's mission is to enlist the full resources of the Bitcoin community toward future innovation, while protecting new business models from excessive regulation."

CoDA (http://www.coda.co) is a membership organization based in Washington, DC, protecting the rights of developers, entrepreneurs and users alike. Expanding upon the scope of groups like the Bitcoin Foundation, DATA and Electronic Frontier Foundation, CoDA is based on what it believes are essential freedoms of the computer age:

  • freedom to communicate
  • freedom to participate in open-source software
  • freedom to freely exchange digital value

Individuals interested in the benefits of decentralized protocols and applications can join the global organization. For more information, please contact info@coda.co.

About Mastercoin Foundation
The Mastercoin Foundation is a non-profit organization whose mission is to enable and accelerate innovation worldwide by building a technological crowd-sourcing platform for community projects, coupled with a rich financial-exchange system and liquidity layer. Members use the Mastercoin Open Source Project and Protocol precedents as benchmarks for their enforcement standards. For more information, please visit http://www.mastercoinfoundation.org.

About Invictus Innovations
Invictus Innovations is building decentralized solutions for centralized problems such as identity, prediction markets, domain name registration and other use cases. The company is based in Blacksburg, VA, and created Bitshares, a decentralized bank and exchange.

About ColoredCoins
ColoredCoins is an open-source project whose mission is to (1) Standardize: build a strong core of Colored Coins developers making compatible projects by following a universal standard, (2) Promote: spread the word and guide the community about the merits of Colored Coins and how they can be used, and (3) Support: gather donations for funding new and existing Colored Coins projects. Colored Coins' open source project works with other related projects, including Mastercoin, on developing a solid legal framework for these types of projects, including issuing a dedicated Color to bridge between the two initiatives.