After 6 long years, the Dogecoin Foundation was re-established. The foundation’s work will be to support the key developers and aspects that benefit the meme coin. The members of the foundation include Vitalik Buterin, Billy Markus, Max Keller and Jared Birchall. Everyone will work towards Elon’s goal of Dogecoin. This is a big deal as critics have often said that Dogecoin doesn’t have an active developer community. But that should change now.
Dogecoin’s future goals and foundation
We all know the meme currency was made as a joke and nothing special that would conquer the world. But now it seems that the meme currency community wants something different. There is so much hype about Dogecoin that the foundation has been re-established. The idea behind it is to support developers through sponsorship to work full-time on Dogecoin. They also plan to announce lots of new projects and work on building a wider Dogecoin ecosystem.
Another goal of the newly established Dogecoin Foundation will be to protect the brand. The idea is that Dogecoin is and will remain for the people. But many attempts have been made to prevent the people and the project from taking advantage of it. The foundation fought for this in 2014 and will continue to do so. So anyone can use the logo and name on new memes, projects, and fun, and the foundation will support the masses.
Probably the most important sponsoring part is about securing a 3-year budget for the projects. This won’t be a problem as there are many big names involved in the foundation. And yes, Elon Musk is involved and is indirectly represented by Jared Birchall, the CEO of Neuralink.
The future of Dogecoin
For any cryptocurrency to be successful, the network effect is the most important thing. And like Bitcoin, Ethereum, and other popular coins, Dogecoin also enjoys it. Yes, the cryptocurrency isn’t very secure and has unlimited availability, but its fun nature has made it a favorite with Reddit and Twitter users. Dogecoin community is among the strongest and even Elon Musk and Mark Cuban believe it is the strongest cryptocurrency as a medium of exchange.
What do you think of the Dogecoin Foundation? And do you think this could be the start of the new phase of meme currency? Let us know in the comments below. If you found our content informative, like it and share it with your friends.
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