{"id":208544,"date":"2021-12-18T09:00:39","date_gmt":"2021-12-18T09:00:39","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=208544"},"modified":"2021-12-17T21:27:02","modified_gmt":"2021-12-17T21:27:02","slug":"tron-foundation-to-dissolve-as-justin-sun-takes-up-government-job-in-grenada","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/tron-foundation-to-dissolve-as-justin-sun-takes-up-government-job-in-grenada\/","title":{"rendered":"Tron Foundation to dissolve as Justin Sun takes up government job in Grenada"},"content":{"rendered":"<p>The Tron Foundation, the organization behind the TRON (TRX) cryptocurrency, today announced that it will dissolve itself next summer, leaving the blockchain\u2019s ecosystem completely in the hands of its community.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udce2<a href=\"https:\/\/twitter.com\/justinsuntron?ref_src=twsrc%5Etfw\">@justinsuntron<\/a>&#39;s Open Letter on <a href=\"https:\/\/twitter.com\/hashtag\/TRON?src=hash&ref_src=twsrc%5Etfw\">#TRON<\/a>&#39;s decentralization and Justin&#39;s appointment as the Ambassador.<\/p>\n<p>\u2705The <a href=\"https:\/\/twitter.com\/hashtag\/TRON?src=hash&ref_src=twsrc%5Etfw\">#TRON<\/a> Foundation has settled to dissolve itself on July 25, 2021<br \/>\u2705Justin Sun has accepted the appointment as Ambassador, Permanent Representative of Grenada to the <a href=\"https:\/\/twitter.com\/wto?ref_src=twsrc%5Etfw\">@wto<\/a> <a href=\"https:\/\/t.co\/UbBMgrRkMh\">https:\/\/t.co\/UbBMgrRkMh<\/a><\/p>\n<p>&mdash; TRON Foundation (@Tronfoundation) <a href=\"https:\/\/twitter.com\/Tronfoundation\/status\/1471802861315305473?ref_src=twsrc%5Etfw\">December 17, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Simultaneously, Tron founder Justin Sun has revealed that he is stepping down from his position of CEO and will take up a job with the government of Grenada as its ambassador to the World Trade Organization (WTO).<\/p>\n<p>\u201cSun\u2019s expertise in the blockchain industry will likely breeze some much-needed fresh air into the regional economy, as Grenada and [intergovernmental organization] CARICOM are among the hardest hit by a Covid-led tourism industry shutdown,\u201d said the Tron Foundation in a press release shared.<\/p>\n<h2>\u201cNew era of decentralization\u201d<\/h2>\n<p>In his <a href=\"https:\/\/tronfoundation.medium.com\/justin-suns-open-letter-to-the-community-on-tron-s-decentralization-and-his-personal-journey-853990c3d978\">open letter<\/a> to the community, Sun noted that \u201cthe TRON blockchain protocol is now essentially decentralized\u201d and \u201csufficiently self-sustainable as a decentralized autonomous organization\u201d (DAO).<\/p>\n<blockquote><p>\u201cFor the greater benefit of society, there\u2019s nothing better than having a founder of a thriving community abdicate all power over users, assets, and data,\u201d Sun added.<\/p><\/blockquote>\n<p>For this reason, the Tron Foundation\u2019s three original nodes\u2014\u201djustinsuntron,\u201d \u201cBitTorrent,\u201d and \u201c\u00b5Torrent\u201d\u2014have withdrawn from the list of blockchain\u2019s \u201csuper representatives\u201d (essentially key players in the Tron\u2019s governance system), leaving the network in the hands of 27 super representatives hosted entirely by the community.<\/p>\n<p>As for his new appointment as Grenada\u2019s ambassador to the WTO in Geneva, Sun said it would allow him to \u201cfight for the interests of developing countries\u201d as well as \u201cpromote the development of the blockchain industry and digital economy.\u201d<\/p>\n<p>\u201cIt\u2019s time to forge closer collaboration between the blockchain industry and international sovereign states,\u201d he stated. \u201cI believe that the World Trade Organization\u2019s recognition of blockchain technology\u2019s value is of vital importance to our industry.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Tron Foundation, the organization behind the TRON (TRX) cryptocurrency, today announced that it will dissolve itself next summer, leaving the blockchain\u2019s ecosystem completely in the hands of its community. \ud83d\udce2@justinsuntron&#39;s Open Letter on #TRON&#39;s decentralization and Justin&#39;s appointment as the Ambassador. \u2705The #TRON Foundation has settled to dissolve itself on July 25, 2021\u2705Justin Sun [&hellip;]<\/p>\n","protected":false},"author":472,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[65509],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - 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