Blockchain Startup Blockstack Unveils Plan to Decentralize Itself
The Web 3.0 developer, Blockstack, announced a roadmap for decentralizing its structure on Friday, announcing plans to develop multiple vendors to form an overall wider distributed community.
Co-founders Ryan Shea and Muneeb Ali wrote in a blog post that the company wants to ensure that corporate governance is distributed as well as block-chain platforms and app networking.
"We have decided to create a governance structure and find new ways to achieve the goals of a robust and decentralized ecosystem, but the process of implementing this goal requires time.
So the first step for Blockstack founders is to create a nonprofit foundation, a US based company and a Hong Kong based company that will start contributing to the ecosystem with the existing Blockstack PBC and venture capital wings. Signature Fund.
The new entities are kept independent of each other. Shea will leave Blockstack PBC to run a US corporation and Larry Salibra will operate a Hong Kong company. Ali will be in charge of the existing company.
In other words, they all claim to be part of the larger Blockstack ecosystem.
"Our goal for all of the above is to ensure that each entity does not control all redundancies so that they can have independent management and voices. Future Stacks The block chain is a chain of stakeholders, Connect with organizations, ecosystems, "wrote Shea and Ali.
The two added:
"Decentralization is not a binary phase."
Network image via Shutterstock
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