CoinFest prides itself on being the first decentralized currency convention. From a gathering of 100 bitcoiners at a coffee house in Vancouver, it now caters to cryptocurrency users and interested parties within and outside Canada.
It is not run by a single organization but rather organized by various sponsors and groups of Bitcoin supporters — CryptoBatesGroup, in this case. It is open to receiving help in kind or in Bitcoin. Sponsors who will donate in exchange for physical advertising are welcome, as well as individuals or groups who will provide financial assistance in the form of the cryptocurrency to help make the company’s next event a success.
CoinFest: from humble beginnings
What started as a small celebration of the acceptance of the digital currency at a Waves Coffee House in 2013, CoinFest is now recognized as one of the much-anticipated Bitcoin conventions, especially when it extended its venue internationally beginning in 2015. Ask a matter of fact, UK just held its CoinFest event on April 8 and 9, 2016.
CoinFestUK 2016 was a two-day event held in Manchester, courtesy of CryptoBatesGroup. The venue was in Madlab in the Northern Quarter of Manchester, serving as the prime spot for an array of activities. These included the granting of access to an onsite Bitcoin ATM, the screening of an award-winning Bitcoin documentary, the streaming of music from The Cypherfunks, and the giving of giveaways and games from CryptoCloudHosting.org and The GameCredits team, to name a few. Of course, Bitcoin Pizza was also part of the agenda.
The fest has got even bigger and more exciting the following year. The year 2017 marked the holding of simultaneous activities across the globe. Among those is the International Hangout which highlighted the presentations hosted by Blocktalk.
Making much room for growth
Further maximizing the Bitcoin technology, this decentralized convention assures transparency, especially when it comes to its funds. In fact, it now stores its funds in a multisignature address, with the CoinFestUK funds separately kept from the CoinFest central funds.
Being distinct in the ecosystem as a decentralized currency-powered convention, CoinFest stood out by setting up two main goals: to spread awareness and knowledge of Bitcoin’s functions and importance and to make the usage of Bitcoin a rewarding process.
Moreover, it stays true to its mission as the conventions transformed Vancouver and Manchester to become the first to simultaneously hold exhibits in multiple venues, putting into action the true essence of decentralization. This alone makes CoinFest unlike the typical conventions, conferences, and expos held across the world.
Now that it is celebrated globally, practically anyone can be part of this movement, provided that the event is held at the same time as all the other events scheduled to take place. With this setup, numerous bitcoiners have already joined in this celebration in Africa, Europe, North America, and South America.