Golem announces a new initiative with a ‘riskier’ approach

Golem, the decentralized CPU power developer, has announced the launch of a new entity called ‘The Golem Foundation.’ Golem Factory CEO Julian Zawistowski announced in a blog post dated June 28.

According to the blog post, the Golem Foundation will assist the latest initiative in expanding solutions and “increase the value of the entire project in the future.” 

Julian commenced the post by stating that the foundation aims to develop innovative and experimental, and also riskier approaches to the value proposition for its Golem Network Token (GNT). Julian further added that the new initiative would include testing of some “new hypothesis,” which enables better utilization of the company’s resources. 

The initiative will be under the supervision of Julian and former COO at Golem, Andrzej Regulski. Respectively, the duo will be handing out their positions to the co-founders Piotr Janiuk and Aleksandra Skrzypczak, as per the shared post.

Speaking about the influence of Golem Factory on various other platforms of the company, Julian added – 

“Golem Factory will be able to focus on the further development of the Golem platform, while the Foundation will have a chance to explore other opportunities without introducing any risks for the project. From now on, our liabilities towards the community will be fulfilled in parallel by Golem Factory and Golem Foundation.”

Furthermore, the foundation will be using the funds of the original capital raised in its crowdfunding back in 2016. The cryptocurrency and peer-to-peer application developer managed to raise about 820,000 ETH in the aforementioned crowdfunding campaign. 

The Golem Foundation aims to develop innovative and experimental, and also riskier approaches to the value proposition for its Golem Network Token (GNT)

In another blog post, Golem asserted that Brass Golem mainnet has functioned without any interruptions and are close to meeting their next milestone, Clay Golem. Also headlining that, simultaneously, they are also developing Golem Unlimited, which supports the formation of subnetworks on Golem run by data centers to broaden the networks reach.

In May 2018, Golem released its brass beta mainnet implementation; almost 18 months after raising funds through an initial coin offering (ICO).