From Berlusconi with Love: A Cryptocurrency to Save the Children of Gaza

Journalist:
Giulio Prisco @giulioprisco
October 20, 2014

Italian technology entrepreneur Davide Luigi (Billy) Berlusconi has launched a new cryptocoin to help the children of Gaza. The name: X-Children, a “Proof of Heart” coin.

More than 500 children from Gaza can no longer play, laugh, or have the innocent life of a child because they have been unwillingly victimized by a war they are not responsible for.

X-Children is a (Proof Of Heart) coin with the sole purpose of helping children like this be able to smile again.

Together we can fight the cruelty of mankind with love and eradicate suffering with compassion.

Billy Berlusconi is also the nephew of politician, media mogul and former Italian Prime Minister Silvio Berlusconi. Though the X-Children project is very recent and not (yet) advertised aggressively, the entry of the Berlusconi dynasty in the Bitcoin world has been noticed by the Italian media, including the national TV news “Studio Aperto.”

Based on the X-11 framework, the CHILD altcoin aims to motivate miners and traders to support a good cause via Unicef, Save The Children, Red Cross and other active organizations in Gaza. All details can be found on the X-Children website. See also the official bitcointalk thread. CHILD can be purchased with Bitcoin at minor exchanges such as Cryptonator but, surprisingly enough, major exchanges like Bittrex or Cryptsy aren’t yet supporting this humanitarian project.

Berlusconi, 32, is a private person who prefers to stay out of the spotlight. He prefers to discuss X-Children and the other projects of his technology startup X-labstudio, which include humanitarian applications of 3D printing and drone technologies.

CCN reached out to Berlusconi to find out more.

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The Young Must Innovate for the Principle of Creative Destruction

Why Gaza? Aren’t there disadvantaged children in Italy?

We all live on the same planet, national borders are just a construct, and as far as I am concerned Gaza children are the same as Italian children, or children anywhere else. We started with the children of Gaza because the situation there has been a hot humanitarian emergency in the last few months, and those poor children are only “guilty” of being born in a conflict zone.

Is the X-Children model extensible and exportable to other humanitarian emergencies elsewhere?

X-Children is a social and economical experiment aimed at showing how new technologies can be used to create value. That’s the reason our project is focused on a current emergency, but we will be able to replicate the project to help with new critical situations elsewhere.

You trust the established humanitarian organizations to which you plan to donate, but do you really think they will do the job? Did you consider supporting the children of Gaza directly?

I am aware that humanitarian organizations have structural costs that  must be covered, and therefore not 100% of our donation will be spent on the children. I think, nonetheless, that humanitarian organizations are the best vehicles to provide help to the disadvantaged people in remote regions of the world. Of course, we will very carefully monitor the actual use of our donation. We did consider direct help but, in view of the logistic and organizational challenges, difficult to face today, we chose to work with reputable humanitarian organizations already operating in Gaza.

Why one more altcoin? Aren’t there too many altcoins already? Why not just Bitcoin?

It’s true that there are already enough altcoins, but let me state that most of them have only speculative aims without any foundation that permits creating real value and improving the system. X-Children is a project with a clear and transparent goal, so it must be included in the category of “noble” cryptocoins like Gridcoin or Dogecoin.

Darkcoin has been criticized for its potential to become the favorite cryptocurrency of criminals, terrorists, and even child pornographers. Aren’t you afraid that the association of X-Children with Darkcoin might be a PR suicide for your humanitarian project? Why did you choose the Darkcoin framework instead of something else?

X-Children has nothing to do with Darkcoin besides technical similarities. Sorry, but this question is misleading because associating X-Children to Darkcoin is a serious conceptual and technical mistake, like comparing two cars with the same chassis but entirely different engines. We started with the Darkcoin framework but, for example, the CHILD reward scheme is derived from Fractal. If you download the X-Children wallet, you will see that we don’t use Darksend or similar.

We chose the Darkcoin framework because it’s a solid and reliable X-11 and one of the most mined cryptocoins. Darkcoin permits dramatic energy efficiency improvements compared to the same rigs running on Scrypt – with Darkcoin, the vast majority of GPU miners abandoned Scrypt before ASICs made it obsolete a few months later. X-Children is totally transparent due to the technology of the blockchain, which permits precisely tracing all information recorded in it. That is shown by the fact that the monetary value of this mathematical coin (Bitcoin) is much higher than the US dollar.

Bitcoin is a new wave, but your uncle is the old finance and the old politics. Did you ever discuss these matters with him? What does Silvio Berlusconi think of Bitcoin and the new cryptoeconomy?

My uncle is always very busy so that, unfortunately, there hasn’t been yet a chance to discuss these matters. I believe, however, that new generations must innovate for the principle of creative destruction.

Also read: https://www.ccn.com/bitcoins-potential-disruptive-innovation/

Do you have political ambitions?

No thanks, my interests are entirely different, and I wish to emphasize that both X-Children and X-labstudio have nothing to do with politics.

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What do you think? Comment below!

Images from X-Children, Ryan Rodrick Beiler and Shutterstock.

Last modified (UTC): October 20, 2014 14:46

Giulio Prisco @giulioprisco

Science writer, software developer, Bitcoin/crypto enthusiast.