CoinFest started in 2013 at Waves Coffee House, where the world’s first Bitcoin ATM was later installed by CoinTrader. Non-profit and true to the open source movement, there has never been any patent or copyright associated. It grew from a hundred people gathered in Vancouver, to several hundred simultaneously across Canada, with awesome partners like the Decentralized Dance Party in 2014.
Returning again in February in 2015, CoinFest has since spread to 25 cities around the world. CoinFest.org‘s funds are held in a multisignature wallet, with the funding scheduled to be distributed to cities around the world to promote cryptocurrency during CoinFest. Eventually, CoinFest will be instituted as a decentralized autonomous organization, following a decentralized model much like Bitcoin and other cryptocurrencies.
The scope of CoinFest 2015 has become truly astronomical, touching five continents. If only 50 people gather in each city, there will be over 1000 participants worldwide. Vancouver had couple hundred last year, and many cities are anticipating over 100 guests. Attendance is free, and therefore hard to track, but turnout could be massive.
Driven by a distributed and passionate team of volunteers, CoinFest is introducing cryptocurrency to people all over the world. A donated Skyhook ATM from the Taurus Exchange is being shipped to Botswana for CoinFest Gaborone, and the dedicated band behind CoinFest Russia are spreading the word about cryptocurrency where top Bitcoin website are blocked, and the use of cryptocurrency is heavily discouraged.
Except for extenuating political circumstances, CoinFest can only be held at venues that accept Bitcoin–this encourages cryptocurrency adoption. Funding for expenses comes from sponsors and donors, and is tracked on the CoinFest website. Fundraising itself is decentralized, and CoinFest “nodes” are encouraged to seek sponsors on their own.
Image from Coinfest.
