‘New enterprise with no blueprint,’ Blockstack unveils decentralization plan

‘New enterprise with no blueprint,’ Blockstack unveils decentralization plan 25099
News
Aakash Athawasya
Oct 13, 2018 at 8:40 AM

Blockstack, the open source browser that provides decentralized applications has announced a roadmap to plan its decentralization process. The company hopes to build an ecosystem of similar entities to build a decentralized network.

Announced via a blog post on Friday the co-founders of Blockstack Ryan Shea and Muneed Ali affirmed the prospect of decentralized apps and want to ensure that their platform does not, “have any single points of failure or control.”

What we are building does not look like a platform backed by a single company, but a decentralized ecosystem; this is a new type of enterprise with no blueprint,” stated the blog post.

The key point addressed in the blog post was corporate governance. Blockstack, being an open source software can be procured by anyone, anywhere and hence wants to promote the features of “open membership” and “consensus mechanism.”

Forging a path towards decentralized governments the company lays out four broad points that will help initiate the process.

Blockstack aims to set up a non-profit foundation that helps to further the digital fundamental rights and makes certain that the decentralization of the internet is maintained. Patrick Stanley, Head of Growth at Blockstack PBC will be the interim head of this foundation.

One of the authors of the post and co-founder, Ryan Shea will be departing the company to build a new entity. Larry Salibra, a Blockchain engineer will move to start a Hong Kong company while Muneed Ali will remain at Blockstack.

Blockstack also hailed the investment impetus that its Signature Fund has made. The fund has invested in 8 startups that focus on building decentralized apps and protocol including the likes of CoinTracker, Afaria, and Casa.

This breakdown into several companies operated by a group of people who were core to Blockstack is an aim to build a bigger, more decentralized ecosystem. The core purpose of this fragmentation of control is to avoid an autonomy overlap and to ensure that entities and people are independent in management.

The path to decentralization will be a long journey, but it’s an essential one if Blockstack is to grow to its potential as a new network that preserves digital rights,” concludes the blog post.

See also: Magic Cube to build a new decentralized gaming ecosystem on NEO

See also: Bithumb next in line to launch decentralized exchange

Image via Blockstack.org

Join our Telegram group

Previous
Next

Articles that may be of interest to you

WeChat public number

WeChat public number