Bitcoin Foundation, the powerhouse of all Bitcoin funding and responsible for the development of the Bitcoin Core. The Bitcoin Core’s lead developer Gavin Andersen heads this Non-profit organization, where he works as the chief scientist.
The Core Developers, Gavin Andresen, Cory Fields and Wladimir van der Laan decided that MIT’s resource could be a valuable addition to the research and development of Bitcoin. Gavin Andresen himself announced the news on his blog. It is important to remember that BitCoin Core Developers are those founding members of the Bitcoin Foundation who have supported the Bitcoin revolution since its very early days.
Recently, MIT Media Lab's Digital Currency Initiative has reported that three of Bitcoin's Core developers will be financed by it. They will receive salary From the Initiative and will no longer receive financial support from the Bitcoin Foundation.
The "DCI" is under the guidance of former White House advisor Brian Forde. With its new team members, it will continue to pursue its objective to develop crypto currency further.
This change has come at a time when the newly elected member of the Bitcoin Foundation Board, Olivier Janssens, revealed that the Foundation was facing financial problems.