As the popular saying goes, change is the only constant thing in life. As time goes by, change becomes inevitable. It is this change that has shifted the vision of the non-profit organization, Ethereum Foundation. During an interview with cryptocurrency outlet, CoinDesk, the director of the Ethereum Foundation, Aya Miyaguchi talked about how things have changed over time and what caused this change. In her words:
“When the Ethereum Foundation was founded, the Ethereum Foundation was ethereum. People in the Foundation were the ones that were building ethereum. Now, that’s not the case.”
Ethereum Foundation Director Aya Miyaguchi Has Had A Rough Run
Aya Miyaguchi was appointed during the. cryptocurrency winter in 2018. At this time, the price of ETH was falling significantly against the USD just like other cryptocurrencies in the market. Ether was one of the coins that suffered the most during the bear market. This is because apart from the general negativity in the market, the Ethereum blockchain had a lot of competition to deal with. Many new generation blockchains were created to pose direct threats to Ethereum. While none of these blockchains have been able to overtake ETH per market capitalization yet, things haven’t been so easy.
Ethereum (ETH) Price Today – BTC / USD
Despite the challenges the blockchain is facing, Miyaguchi expressed her optimism about the future of Ethereum. She said that the vision shift the foundation is experiencing isn’t due to the price drop or the increasing competition. According to her, it is the development of the Ethereum developer community that has prompted the shift in vision. She continued:
“With the nature of open-source technology, [ethereum] has changed over the years and the entire ecosystem has grown a lot bigger.”
During the ETHDenver yearly hackathon, Miyaguchi said that she doesn’t want the blockchain to remain stagnant. She said that as the blockchain is changing, the role of the Ethereum foundation should change as well. Addressing the crowd, she said:
“I believe the role of the Ethereum Foundation also needs to shift … What are things that only the Ethereum Foundation can do?”
The Ethereum Foundation is the first nonprofit organization that was created solely to promote the development of the Ethereum blockchain. This makes it a trustworthy brand. According to Miyaguchi, it is this trustworthiness that stands as the greatest strength of the foundation. Miyaguchi said that it’s time for the foundation to focus more on improving communications within the foundation and to the public. People should be more aware of the progress the organization is making in the promotion of the Ethereum blockchain. Still speaking to CoinDesk, she said:
“I believe the Ethereum Foundation has established this trust relationship in the world where we do have the brand. People trust us to be neutral or honest about information so we just want to deliver true information. Someone needs to fill in this role,” insisted Miyaguchi. “Who can do this better than others? Not that we’re experts in doing this, it’s more like our position being a non-profit and being neutral [means] we don’t have any business incentives.”
The bottom line is that the Ethereum Foundation is no longer the central hub for Ethereum developers it used to be in the beginning. However, even as things are changing and the foundation is expanding, Miyaguchi insists that the foundation needs to do better in its communication and coordination roles.
What do you think about the Ethereum Foundation? Is the nonprofit doing as much as it should promote the development of the blockchain? Share your thoughts in the comment section.