The Dogecoin Foundation is reinvigorating its board of directors and planning for the future of the cryptocurrency.
After six years, the Dogecoin Foundation announced a “re-establishing” of its advisory board. The foundation is a non-profit organization with the aim to bolster the memecoin through development and advocacy.
The foundation also intends to prevent abuse and fraud, and create a roadmap and system of governance for the future of the Dogecoin community. The official Dogecoin Manifesto lays out the “guiding principles” of the foundation.
Dogecoin Foundation advisors offer insights for strategic developments of the foundation. With the new restructuring, the advisory board is bringing on prominent figures in the crypto space. This includes the likes of Ethereum co-founder Vialik Buterin as “Blockchain and Crypto Advisor” and Jared Birchall, a representative of Elon Musk, as “Legal & Financial Advisor.”
Two other advisors include developer Max Kellner as “Technical Advisor” and founder Shibetoshi Nakamoto as “Community and Memes Advisor.”
A veteran member of the Dogecoin Foundation, Jen Wiechers, remains on the board along with two other developers Michi Lumin and Ross Nicoll.
The Foundation originally came together in 2014, however, it has become somewhat inactive over the years. Now, upon its revival, the foundation is touting “collaboration and trust over competition and exclusivity.”
Over the past year, the Shiba Inu memecoin exploded in popularity.
The immense hype attracted attention from investors both inside and out of the crypto space. Elon Musk, who now has a representative space on the advisory board, has been one of the biggest proponents of Dogecoin, even conducting the world’s first space mission paid for with DOGE.
On the heels of the Musk-Doge craze, Vitalik Buterin made comments about Musk’s sensational claims towards the network.
Nonetheless, with these two big names in its pocket, the Dogecoin Foundation appears to be set to have an active future. The foundation ended its statement with a target of securing a three-year budget to bring on staff full-time.
BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.