Embattled Tezos Community Launches T2 Foundation

bitcoin price
Advertisement

Utah native Ryan Jasperson and fellow members of the Tezos community have officially launched the T2 Foundation. The mandate of the new foundation is to support the launch of the Tezos network “…if the Tezos Foundation is not able to do so in an adequate and timely manner”.

Ending The Infighting

Tezos Foundation head Johann Gevers has been accused of slowing down the development of the project. Fortunately, Gevers published a blog post via Medium saying he intends to step away from Tezos.

Gevers has since taken down the post. However, a subsequent statement confirmed that he’ll stick to the plan. It seems even whenever Gevers strives to provide the community with clarity, he fails.

Gevers has struggled to make friends in the Tezos community since October. A report from Reuters outlines several disagreements between Gevers and Arthur and Kathleen Breitman. The husband and wife tandem are the leaders of Tezos’ Development team and the corporation behind the project, Dynamic Ledger Solutions.

Despite the fallout, Arthur Breitman maintains that the beta version of the Tezos blockchain could launch within the next five weeks if impending legal issues can be resolved sooner rather than later. He also confirms development of the project is progressing considerably. This despite the fact developers are waiting to receive adequate compensation from the Gevers-led foundation.

T2 Foundation Comes In Peace

The T2 foundation will feature seven board members, including Jasperson, who spent an estimated $50,000 of his own money to launch the T2 Foundation and the Swiss association, The Association for the Tezos Protocol and Ecosystem.

Also joining the board is Olaf Carlson-Wee, head of cryptocurrency hedge fund Polychain Capital. Wee is a significant stakeholder in the project dating back to September 2016. He first penned a letter back in December stating his interest in joining the original Tezos Foundation.

Less than two months later, it appears Carlson-Wee, Jasperson and the rest of the Tezos community are ready to take control of Tezos.

Furthering Development

As the tenuous situation involving Tezos’ two different foundations appears to be slowly resolving itself, development of the protocol continues to forge ahead. The inner workings of its development are on public display, and its obvious significant progress is being made.

That’s great news for the project as it aims to revolutionize blockchain technology through its on-chain governance model.

It’s just too bad computer code can’t get rid of can’t get rid of off-chain governance issues.

Get Exclusive Crypto Analysis by Professional Traders and Investors on Hacked.com. Sign up now and get the first month for free. Click here.

Advertisement