WHY ASCH MAKING A FOUNDATION IS A BIG DEAL, AND WHAT THAT MEANS TO CRYPTO COMMUNITY
In the crypto ecosystem coexists different kind of projects, all with their own values, vision and objectives. Some of them have a centralized approach and their origin is an enterprise, so their results and advancements will belong exclusively to it. Others, instead, have followed a path inspired by decentralization, thinking about how can they give more value to the community, and a way to make this possible is making the project open source, so it’s the community the one in charge of helping to developing it, having a protagonic role instead of a mere spectator.
However, even when lots of open source projects have the best intentions, they lack a legal sustain that allows them a better development. So the developers are faced with a choice, depending on their legislation, reduced in general to determine what type of juridical person it’s needed to accomplish their goals. In general, even if we face a country where common law or continental law applies, the right juridical form for an open source project it should be a non-profit organization, and in ASCH case they chose a public company limited by guarantee, which fills that necessity.
But again, why is this relevant at all? It’s pretty simple actually. The wise man does not choose sand soil to build his house, because having a weak foundation means having a weak and insecure structure. No, the wise man chooses hard ground to build a place that he can call home, so it can last for generations. And that is exactly what happened here. Not convinced? Check what the team said about the meaning of this non-profit organization:
“In the future, the company will act as the governance body of Asch, an international open-source project, to standardize the technology development and application development, foreign exchange and brand promotion, as well as the rights and interests of the holders. Besides, the company will be responsible for the management of all assets in the Asch community. The use of assets will be reviewed and decided by the community council and the use of funds will be announced to the whole community and will be supervised by all the Asch community members.”
In other words, because now ASCH has a foundation, we can expect them not only to be trustworthy, because it has the right juridical structure, but also now we can also be sure that their well-earned resources will be reinvested in making the project and the community even bigger, because that legal structure promotes good governance practices and transparency, being a democratic approach to manage a huge project like ASCH. This is an example of what crypto management should be, even more if it’s really aiming for decentralization, because it puts together this new exciting technology with legal certainty.
Want to know more about ASCH? Don’t forget to check their webpage ( https://www.asch.io ), their medium page ( https://medium.com/@AschPlatform ), or their subreddit ( https://www.reddit.com/r/Asch_Platform/ )!
