During Bitcoin Wednesday on 2 March 2016 and Bitcoin Wednesday on 6 April 2016, David Pearce, one of the founders of the Nxt Foundation, gave introductions to Nxt. Among the more than 500 digital currencies in existence, Nxt stands out as an innovator, and the Nxt Foundation, based in Amsterdam, strives to promote the development and use of Nxt throughout the world.
Nxt is a second-generation “Bitcoin 2.0” cryptocurrency which, as of February 2016, has a market cap of about $8 million. The Nxt platform includes its own asset exchange for decentralized trading. It also allows for the creation of user-defined assets and decentralized applications on the NXT blockchain, among many other features. Despite these advantages, the Nxt system requires relatively little energy and computational power, and can easily run on small, lightweight devices like smartphones and the Raspberry Pi mini-computer.
David Pearce took an interesting path to the digital currency sector. He first studied biology and biotech at Waterford Institute of Technology in the U.K. specializing in bacterial fermentation. After receiving his University degree, he worked as a researcher in bioremediation, the use of microorganisms to clean pollution. Moving to Europe in the 1990’s, David settled in Amsterdam, where he worked as a network administrator.
In 2013, impressed by Bitcoin’s ability to send and receive digital currency without any form of central authority, David converted a classic Range Rover into digital currency, and began following the sector more closely. In late 2013, he saw Nxt and recognised its potential to completely revolutionize the way we transact with each other. In 2014, he, together with a group of other Nxt investors, set up the Nxt Foundation to help the decentralized project to interact with the more mainstream business world.
David loves classic cars, the movies of George Miller, cycling, motorcycles and books by Terry Pratchett.