Everscale has officially launched its Foundation, based in Zug, Switzerland. In order to best understand the raison d’etre of the Everscale Foundation, its best to highlight that Everscale has set up different alliances in addition to its team of key contributors and developers. For newcomers, business partners, journalists and the like, the Foundation serves as a gate that connects all parts of its vast organisation to the outside world.
The Everscale Foundation is essentially a non-profit organization aimed at removing barriers between the Everscale ecosystem and the rest of the world, as well as attracting new developers and expand the community.
Let’s address the elephant in the room first. The Everscale Foundation does not control the Everscale network — it only performs the functions delegated to it by public consensus.
The only way to control the Everscale network is through the voting mechanism with native EVER tokens.
The Foundation will perform several functions:
1. Acting as an Intellectual Property (IP) repository, offering storage and protection of the network’s crucial non-material assets, such as trademarks, domains, patents, etc.
2. Grant support. The Foundation serves as an entry point for all kinds of projects that develop their products based on Everscale and directs grant support to the ones that are the most useful for the ecosystem.
3. Representation. The Foundation is in the process of forming dedicated working groups, interfaces and documentation to create a single point of entry for journalists, developers, influencers, government agencies, etc.
4. Legal and compliance support. The Foundation is participating in preparing and maintaining up-to-date versions of legal documentation, including legal opinions, compliance policies, declarations of decentralization and so on.
5. Promotion and popularization. The Foundation actively promotes the project through dissemination of information, content publishing, media buying and participation in events of relevance to the network.
Everscale Foundation structure
The proposed structure of the Foundation includes:
• Foundation board
• Management board
• Advisory board
• Auditors
Dave Pulis, the founder of ZBX Exchange and one of the Everscale Foundation members noted:
Everscale is proving to be the most scalable blockchain chosen by end users, enterprise and multiple Central Banks and Governments across the globe. This is a big step for Everscale and the Blockchain community at large.
Summary
This is a huge achievement for the Everscale ecosystem, which will strengthen our business and strategic positions, boost adoption of Everscale’s tech, bring in more users, and expand our community. We will be closely monitoring the Foundation, and share the latest updates from the Foundation and its members.
