mirror of https://github.com/zcash/zcash-blog.git
20 lines
2.7 KiB
Markdown
20 lines
2.7 KiB
Markdown
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ID: 1544
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post_title: Announcing the Zcash Foundation
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author: Zooko Wilcox
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post_excerpt: ""
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layout: post
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permalink: >
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https://blog.z.cash/announcing-the-zcash-foundation/
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published: true
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post_date: 2017-03-17 00:00:00
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---
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<p><a class="reference external" href="/helloworld/">Our Mission</a> is to give every person in the world economic freedom — to do for cooperation what the Internet did for communication.</p>
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<p>The organization we created to launch this project is a startup. This provides a tight-knit, focused team, rapid decision-making, and the possibility of generating additional funding, such as by building blockchain solutions for industry.</p>
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<p>However in the long run it would not be appropriate for a single for-profit company to have this much power over the evolution of the Zcash technology. Ultimately, there will need to be an independent, inclusive, non-profit body to steward the technology in the interests of all users.</p>
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<p>Today we are announcing the formation of <a class="reference external" href="http://z.cash.foundation/">The Zcash Foundation</a>, which I hope will fill this role.</p>
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<p>I hope that The Foundation will also serve as a forum for the Zcash community to work its way through governance issues such as the ones that are currently rending the Bitcoin community.</p>
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<p>The Zcash Foundation is funded by the blockchain itself. A portion of the Zcash Founders' Reward <a class="reference external" href="/funding/">¹</a>, <a class="reference external" href="/continued-funding-and-transparency/">²</a> have been donated to the Foundation. These coins will be distributed incrementally over the next 3 and ⅔ years, until November 2021. The total amount donated is 273,000 ⓩ coins. At today's price ($49/ZEC) that would be worth more than $13 million!</p>
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<p>This has been made possible by donations from some of the founders of the Zcash project. I personally have donated half of all of the coins I was due to get from the Founders' Reward, and many of my colleagues have donated as generously or even more so!</p>
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<p>The initial <a class="reference external" href="http://z.cash.foundation/about/">Board of Directors</a> of the Foundation is four of the people that I most trust and respect in the field. I personally am not a director of the Foundation, and none of the Directors are employees of the Zcash Company. Nor do I or the Zcash Company have the ability to defund the Foundation. So, it is already, at its birth, independent of me and of the Company.</p>
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<p>Please read the <a class="reference external" href="http://z.cash.foundation/blog/hello-world/">Foundation's Hello World</a> blog post to see their initial plans and how you can get involved and help make Zcash live up to its potential!</p>
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