The Cardano Foundation is over, now let's make that a good thing

I’m going to cut right to it the Cardano Foundation is over, now let’s make that a good thing.


Edit: November 3, 2018 unsigned

I signed the Guardians of Cardano petition with the following added:


This is the link I referenced above:

I now see the Guardians of Cardano have added another counter:

I have no idea what “Unite as one” means, I’m done with this type of showmanship and personal attacks, even if justified, and propose actionable progress instead. The Cardano ecosystem can seize its future right now by making the CF, irrelevant.


I propose the community starts a Social purpose corporation, electing members who will fulfill the philosophical contract that comprises Cardano social reason for being.

A social purpose corporation ( SPC ) is a type of for-profit entity in some U.S. states that enables corporations to consider social or environmental issues in decision making instead of relying only on profit-maximizing goals. The social purpose corporation structure permits consideration of these issues but does not require it.

By having a Social purpose corporation running today, the community will be prepared for when the Cardano Foundation works out its management problems, and if any issues ever arise again, the Cardano Social purpose corporation will be there too.

I’m not for more government oversight, still look at what we have today clearly, this is not working. Let’s change that for all time, right now.


I keep seeing community effort like this left on the roadside:

This lack of action, not enabling Portuguese translation is just one of many examples, should not be happening in Cardano’s ecosystem, and should never be allowed to happen again. By enacting a social purpose corporation, comprised of community members and yes even Foundation members Cardano gains mightily.

@jonmoss could you please tell Pascal Schmid, Tilmar Goos and Steve Wagendorp about this post. Thank you.

Cardano Observer, supporting and growing the Cardano ecosystem, from the roots up.


Fair enough.


@Jotunn the timer has and always had a purpose, which we can’t disclose, but if you think hard about it you should come up with the right answer.

You idea for the Social purpose Organization is interesting. We have to put the basis of a new organization for the Cardano Ecosystem on a legal grounding. Whether this is the right one or not should be a serious & comprehensive debate within the Community including legal subject matter experts.

The Cardano Foundation has 600+ million ADA holdings and millions of USD / BTC value holding.

This is something we believe we have to reclaim and absolutely worth fighting for as it would enable tremendous opportunity for the Community development initiatives. Otherwise you would need to crowdsource every project.

It’s no issue you are a pacifist, it’s a good thing. Nevertheless please don’t criticize others in the Community who work day & night next to their job & family to fight and somehow reclaim these resources for the good of all of us, including you.

If you review the Forum history of the members in the Guardians of Cardano, you might realize these were one of the most active, constructive and positive members on the Forum with lot of good ideas about the Foundation & Community development.
Let’s have some respect to each other, let us be better in this sense then any other crypto Community out there.

And for now we should all aim to build the new organization for the Cardano Community & Ecosystem over the next year without throwing stones on each other, we need some positive vibe in this space, united for the same goals, though debating our differences in a friendly & mature way.



I’m sorry you interpreted this post as throwing stones your way, it is not, it is about making Cardano’s future a positive one.

A social purpose organization has the capability of moving the Cardano Foundation forward now and in the future. I would not have suggested this if I did not seek out legal counsel first.

Did I address this, no, I’m confused, of course, the Cardano community should have accountability.

You do not know me I do not know you. If you believe what I wrote is unwarranted criticism, then you just made my point stronger.

I also see that @rickymac is one of the Guardians, so you are not speaking on behalf of all of the guardians, are you?


A little difference opinion is fine, maybe a few different approaches to solving the community development and discourse problem is a good thing.


I believe it it is confusing to see a post by the @GuardiansOfCardano in this context, I, @Jotunn am speaking on my behalf not a group, but one is left to wonder who they are addressing in this context. Don’t you agree?


For those who are interested in why I’m recommending a Social Purpose Corporation, SPC, for Cardano’s future:

Jay Coen Gilbert, the co-founder of B Lab, hired Philadelphia law firm Drinker Biddle & Reath to write model legislation for an entirely new kind of corporation, a benefit corporation, which requires directors to pursue a social mission and minimize their environmental impact while also making a profit.

A social purpose can be anything intended to benefit the environment, your community, your customers, your suppliers, your employees. The legislature avoided defining a comprehensive list of permitted social purposes. While the legislature failed to provide a specific reason, it’s reasonable to infer that permissible social purposes are to be broadly construed and will not receive much legislative scrutiny (if any).

Social Purpose Corporation, SPC, requires directors to pursue a social mission and minimize their environmental impact while also making a profit.

Charles Hoskinson:

About 3 Billion people are unbanked and as the consequence of not having good identity, financial infrastructure; they don’t have the ability to climb out of poverty without a considerable amount of assistance or leaving their country which creates brain drain.

If Cardano is not prime for having an arm as a Social Purpose Corporation, then tell me what is.

A Social Purpose Corporation is revolutionary and is just waiting for the right time to be enacted on in the cryptocurrency space. It is my sincere opinion and with the legal advice I received, that I wholeheartedly believe that time is now.

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Very well said. I cannot agree with you more, @Jotunn.

Are you able to share the process and costs involved with incorporating an SPC?
Do you propose that such an SPC would be incorporated in the United States?
Is it not possible to formalise the community structure without creating a legal entity?

  • Registering a Social Purpose Corporation is similar to registering other profit corporations, read very straightforward.

  • Social Purpose Corporation are USA entities I did explore other options but unfortunately, they all lacked accountability and transparency.


  • It is possible to formalize the community structure without creating a legal entity but without clear transparency, not to mention accounting accountability I would not advise it.

While we agree with your ultimate goal, have you perhaps considered that many might not actually be in agreement with your current means/tactics to reach this goal? AFAIK, neither you or your tactics/plans were elected by me or the community. I for one would like to hear other less militant ideas and believe that @Jotunn might be onto something. Also, please stop crying me a river and telling me everytime how you are working day and night for my own and the communty’s good. While you’re at it, please lay-off the bully tactics, just because someone disagrees with you. You are not speaking to Michael Parsons; you are speaking to respected members of our community. Enough said!


While not entirely applicable I found this very insightful:

The B Impact Assessment
The most credible tool a company can use to measure its impact
on its workers, community, and environment, and customers.

Would a volunteer Community Representative Board not be sufficient?
Personally, I would rather community members volunteer their time rather than being incentivised by remuneration.

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An SPC targets specifically what Cardano’s social purpose is for, profits and social good. The bonus is once structured it can oversee those goals, a check, and balance for CF.

Never repeat what has happened again.

Alas, no, look at what we have now.

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Where would initial operating/startup funds come from for an SPC? Venture capital? Angel investors?

I like your idea!

I thought the same and was hoping someone would voice it. Note, an SPC costs next to noting to enact, by ‘Angel investors’ I’m also adding in volunteers.

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I’m not a fan of this whole counter thing as I feel like something has been withheld and I have to wait to participate. I think its important that we do have a presence that shows that we are keeping an eye on the foundation, though not to loose track with our focus to move on with getting things done.

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I am liking this even more! I am wondering if chances to get serious investors would be better after Staking has taken effect though. Successful decentralization of the network would definitely help. But perhaps it’s not too early to start trying get an audience for this. What are your thoughts?

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Maybe a volunteer organisation until we can seek funded representation through a Cardano Improvement Proposal?


Good idea, I hope some current CF team members see the merit in this and volunteers.

I agree, I never want to face this sort of situation again, to that end we need check and balance.