Non-profit blockchain organization PraSaga will operate as a foundation
ZUG, Swiss, July 12, 2022 /PRNewswire/ — PraSaga – the non-profit organization building the next generation of Layer One blockchain – today announced its official designation as a Swiss foundation. This critical milestone caps a busy first half of 2022 for PraSaga, which also included participation in the Chamber of Digital Commerce’s Blockchain Summit in washington d.c.to help define the future of the crypto industry, and assist Consensus 2022 in Austin, TXto introduce SagaPython, a new extension of the popular Python coding language, with integration into the PraSaga blockchain.
The news caps off a busy first half of 2022 for PraSaga, including participation in the Chamber of Digital Commerce’s Blockchain Summit.
Recognition as a Swiss foundation means that the PraSaga ecosystem will be governed by majority rule in the future. Decisions will be based on the authority of majority or super-majority votes, which means that no single entity will have the ability to take control. This will help ensure that PraSaga achieves its goal of creating a blockchain that delivers a better future, with transparent government, efficient markets, and true threat protection.
Michael HoldmanFounder and CEO of PraSaga said, “We understand the responsibility that comes with creating a blockchain and layer 1 cryptocurrency. Being constrained by profit margins and controlled by a centralized authority is simply not compatible with the goals we aim to achieve. achieve at PraSaga. Operating as a foundation enables us to pursue our ultimate goal of improving the quality of life for people around the world. By placing control of data in the hands of every individual, and in areas such as creating transparency in tracking carbon emissions and addressing gaps in the global supply chain”.
To obtain Swiss foundation designation, the organization had to comply with government regulations. However, this trip was worth it because Switzerland the legal and political stability, as well as the emphasis on innovation, make the country a unique financial centre. The Swiss financial industry is known worldwide for its banking heritage. Yet its constant drive to broaden its horizons and rapid adoption of innovations like fintech and sustainable finance make it the perfect place for a forward-looking foundation like PraSaga.
About PraSaga
PraSaga is a Swiss foundation building the next generation of Layer One blockchain. PraSaga’s technology solution addresses many of the limitations that plague first-generation Layer One blockchains. The SagaChain™ successfully addresses transaction fee reduction, supply chain scalability, and significantly reduces development costs.
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SOURCEPraSaga