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@FrancisPouliot
Created August 12, 2014 17:17
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Bitcoin Foundation Canada uses Coinkite to manage its operating budget in Bitcoin
The Bitcoin Foundation Canada is a non-profit which has declined the use of traditional banking institutions and instead relies solely on Bitcoin for all its budget. This means that we require a lot more security and flexibility than most Bitcoin-accepting businesses. A concern we share with small businesses and other non-profits that want to use Bitcoin is that we must find an adequate balance between security and convenience.
A Bitcoin organization like ours would typically hold the majority of its bitcoins as an endowment in a highly secure, hardly-accessible Bitcoin wallet with full and exclusive access to our private keys. But for day-to-day operations and expenses, it is also necessary to have a chequing-style "hot wallet" that must be accessible in a timely and convenient manner.
The Coinkite wallet has struck a perfect balance between security and convenience when it comes to managing our operations budget. We have found numerous uses for its advanced features such as the ability to send payment in the form of vouchers via email or even SMS, which minimizes the risk of human error on both ends of the transaction. The ability to create public payment pages to receive funds is a powerful tool for transparency and the activity log helps with our internal accounting. The security level with Coinkite's two-factor authentication is also greatly appreciated.
Coinkite has been a driver of innovation when it comes to the community's needs, particularly with the ability to audit your deposits (transparency) and the ability to easily connect to Coinkite over the Tor network (privacy). In terms of its features, there is no doubt that Coinkite is one of the world's most advanced Bitcoin wallets worldwide.
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