Yesterday Wednesday, it was announced the creation of “Ethereum Institutional”, a new independent non-profit organization, which will be a neutral gateway for institutions wishing to deal with Ethereum, layer 2 networks, tokenization, stablecoins and decentralized platforms.
The organization was founded by members of the former Ethereum Foundation founding team – David Walsh, Matthew Dawson and Marius Smith – with funding from Bitmine and Sharplink, as well as Joseph Lubin, CEO of Consensys.
This comes at a critical time for Ethereum, which is facing a wave of fear and uncertainty and trading at its lowest levels in years, despite continued momentum and interest in making it a pillar of future funding.
The founding team published an article about the new entity created saying:
What was missing was an independent and trusted gateway that represents the entire Ethereum ecosystem without bias and with which organizations can interact directly.
The organization is structured around five divisions:
Business communication, market intelligence, Ethereum marketing, requirements discovery and events, with the aim of translating business needs into real-world applications on the Ethereum network at a critical stage when organizations make infrastructure decisions.
David Walsh, former head of the Ethereum Foundation’s enterprise team, said:
For years, Ethereum had the most trusted, neutral, liquid, and solid underlying layer in the crypto world, but what was missing was a neutral entity responsible for institutional marketing of the ecosystem.
He added:
Organizations have reiterated their desire to have an honest, neutral party with whom they can actually communicate. We are therefore working to expand this role independently.
In the same context, the Ethereum Foundation – which recently went through a funding and staffing crisis – on Wednesday published the guide “Ethereum Essentials for Governments and Institutions”, which is a non-technical reference that explains how Ethereum works, its governance model and its value as a reliable and neutral public infrastructure, compared to centralized systems vulnerable to malfunctions, hacks and used as a weapon.
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