The Dogecoin Foundation has been re-established with backing from Ethereum co-founder Vitalik Buterin and Tesla boss Elon Musk’s representative Jared Birchall.
The board now includes other prominent crypto experts and Dogecoin community members, including Gary Lachance, Jens Wiechers, Timothy Stebbings, Ross Nicoll and Michi Lumin.
The goal of the new foundation is not to replace any existing development efforts, but rather to give them structure.
The Foundation hopes to achieve what networks such as Ethereum and Bitcoin have already attained in terms of development capacities.
The appointment of Buterin is therefore understandable as he has invaluable experience within the Ethereum Foundation. In the official manifesto of the Foundation, the organisation states: “We are Dogecoin, the accidental crypto-movement that makes people smile.” Essentially, the Foundation is looking to create “a currency for the people”.
The Foundation is not without friends. Elon Musk, who was backed as a potential Dogecoin CEO in 2019, has been presiding over the development efforts and the currency is showing promising signs.
Musk’s representative on the board, Jared Birchall, is a former SVP at Morgan Stanley and has been working with Musk for years. He is also on the board of the Musk Foundation and works as a manager at Tesla and Space X.
Both the original Dogecoin founders, Jackson Palmer and Billy Markus are on the original board. Buterin seem an odd addition, but recent months he has been increasingly positive about Dogecoin’s potential.
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