The Dogecoin Foundation is back with a renewed focus after six years of silence. The Dogecoin Foundation’s renewed focus has new people behind the wheel. Some of the most notable names on the new foundation’s board include Vitalik Buterin, Ethereum’s co-founder.
Dogecoin Foundation’s Renewed Focus
“We are here to accelerate the development effort by supporting current Dogecoin Core and future Dogecoin developers to work on a full-time basis through sponsorship, as well as providing a welcome landing for new contributors hoping to help with the project,” says the new foundation.
In a nutshell, the new foundation aims to promote the future of the Dogecoin blockchain and support its ecosystem. The idea is to maintain the token’s popularity in the cryptocurrency market. Indeed, DOGE is one of the most popular tokens after bitcoin. It has a market capitalization of about $40.8 billion and a daily trading volume average of about $3.9 billion.
The new foundation is still setting the table. Its immediate goal is to secure enough funding to sustain a three-year budget for its proposed projects. It is looking to hire a small staff to work on Dogecoin in a full-time capacity.
The new foundation will be announcing new projects in the coming weeks. The new projects will be aimed at complementing the current core wallet. This will enable faster integration and better APIs to support social, financial, and charitable projects seeking to use the DOGE token.
However, the new foundation has repeatedly clarified that it is not here to consolidate control over the DOGE token. Instead, it pursues its objectives on behalf of the large Dogecoin community.
Putting Together a Robust Team
A robust team of cryptocurrency and finance experts is behind the new Dogecoin Foundation. The team includes:
- Vitalik Buterin: Blockchain and Crypto Advisor
- Jared Birchall: Legal and Financial Advisor
- Max Keller: Dogecoin Core Developer and Technical Advisor
- Shibetoshi Nakamoto: Dogecoin Founder, Community and Memes Advisor
Vitalik Buterin is one of the most notable figures on the foundation’s board. He is the founder of Ethereum, one of the largest cryptocurrencies after Bitcoin. Buterin has previously hinted at a possible collaboration between Ethereum and Dogecoin. He was quoted saying, “If we can have a secure Doge-to-Ethereum bridge, that would be amazing.”
Jared Birchall’s presence is also notable. He is the managing director of Elon Musk’s family office and a close associate of the Tesla CEO. His relationship with Musk is noteworthy as the Tesla CEO has great influence over DOGE’s popularity and, consequently, its overall price. Additionally, Birchall is a former executive at Morgan Stanley, so he brings a lot of experience to the table.
More people may join the new Dogecoin Foundation in the coming months and years, depending on how big its proposed projects grow. The larger Dogecoin community will also have some input in the new foundation’s projects.
A Bright Future for Dogecoin
Dogecoin may be wildly popular, but it still has room for improvement. The new Dogecoin Foundation is expected to make this improvement, thanks to its renewed focus and re-energized approach. Consequently, the DOGE token may see its popularity continue growing.