Many of us witnessed the meteoric rise of bitcoin in 2017. Feelings of euphoria and positive sentiment were ubiquitous. But one can make the argument that Cryptocurrency, at that time, really only had “feelings” to offer the world.
People believed their feelings, though, and we saw the result of that combined belief reflected by price. Yet mass adoption has yet to take place with blockchain technology and crypto. Everyone is racing to be the project that brings about mass adoption, to etch their names in history as they ride the wave of Bitcoin and Satoshi Nakamoto. However, not all projects and visions are ernest. Many are aware of methods that can be utilized to turn hope into, for lack of better word, a “cash cow”.
I wanted to know for myself: is Elastos a vision of gains or a vision that gains?
There was no better place to get that information than from the creator of Elastos, himself. I, along with various community members, have raised multiple questions to the Foundation over a period of time. In the process of engaging with community members as he frequently does, Rong agreed to have a conversation with me. Here are a few things I’ve taken away from my conversation with Rong Chen.
Elastos Foundation & Satoshi Nakamoto:
Satoshi Nakamoto, the unknown “hero” of the new age praised for the creation of Blockchain Technology & Bitcoin. No one knows who he, she, or they are. There are a few conspiracy theories, one stating that the CIA is “Satoshi Nakamoto” and has created Bitcoin which thrives on the technology called blockchain as an alternative currency that would resolve the world’s debt crisis by reviving the “Gold Standard”.
Some say Wei Dai is the real Satoshi Nakamoto. He is a computer engineer best known as the creator of the Bitcoin predecessor “b-money”, and he is the developer of the Crypto++ library.
Others say Satoshi Nakamoto is nothing but a group of rouge Microsoft executives who decided to “fight the man” by utilizing their collective brain power to bring freedom to the world’s economies and return power to the pockets of the common man through digitized trust and wealth redistribution.
Whatever the theory, in whatever form, Satoshi did at some point exist, and he left something behind that would change the entire globe.
Rong Chen, Co-Founder of Elastos, likens the Elastos Foundation (and not himself) unto Satoshi Nakamoto. The only difference is that “Satoshi” isn’t anonymous. In Rong’s vision to break apart digital monopolies and certain government controls, he realized that the creation of a “New Internet” is essential.
A “New Internet” that is built by the people, for the people.
This new internet should be controlled by no single entity or person. Understanding this ideal allows for greater understanding behind the actions of the Elastos Foundation. The Elastos Foundation’s number one priority is to build the New Internet for the next generation similar to Satoshi Nakamoto who created Bitcoin and then released it completely as a dedication to the world.
The Foundation’s purpose is to create this New Internet, and have its participants decide its direction. Thus, the Elastos Foundation is our Satoshi Nakamoto. The foundation does not generate income on its own, it does not have any means of sustaining itself through the reselling of products. The ability to manage the funds it already has is its only saving grace.
One may say, “Well, that’s not a sustainable business model.” Yes, that’s correct, and that’s the entire point. The Elastos Foundation does not have plans to stick around to dominate and manage the New Internet with an iron fist. The Foundation plans to give birth to this New Internet, oversee its growth for as long as it can, and like a child turned adult, release it into the world to grow, mature, and bring about prosperity for all of mankind.
Structure of The Foundation
“The Elastos Foundation is a very small central coordinating body… The core teams all work as separate, but cooperating entities who have money for [at least] 2 years of development. Cyber Republic has been allocated the bulk of the funding raised and that is open to all.”
– Chris Mac.
The Foundation is staying true to the ideology that the internet will not be governed by any central body. Thus, their teams all follow a Holocratic business structure. Holocracy is a new way of structuring and running an organization that replaces the conventional management hierarchy. Instead of operating top-down, power is distributed throughout the organization, giving individuals and teams more freedom to self-manage while staying aligned to the organization’s purpose.
There are arguments to be made that can be negative or positive to this method as it relates to the development of the “New Internet”. While this distribution of power, even within the structure of the foundation, can lead to slower results compared to more centralized structures, there is one thing that cannot be argued: it is an organic attempt at bringing a selfless vision to life and, at the very least, it is free from any single point of failure and centralized domination. The Elastos Foundation is attempting to be true to the ideals of Blockchain: a decentralized workforce for a decentralized technology.
The New Internet & Bitcoin
Rong offered the world an opportunity, “For 6000 BTC I can build you a New Internet”, and the world accepted his offer. This has become Rong’s mission, his oath, and his pledge to humanity.
We often wonder why marketing has not been performed for the various pillars of the Elastos Ecosystem. “Does the internet have marketing?” or “Did Bitcoin have a marketing team?” are pivotal counter-questions. These questions state that throughout history, the most innovative, world-changing technologies were born by love and necessity. Like Bitcoin and the first iterations of the Internet, the Elastos Foundation is following in the footsteps of almost every great technology that precedes theirs. By creating the New Internet out of love, its necessity and inherent value will undoubtedly thrust it forward.
Is Rong’s Passion Burning? Or is Rong Burning With Passion?
I must say, even I questioned if he still has what it takes to push through impending storms. Rong has proven that he still has that burning fire, and will always care about the vision of Elastos and the “little man”.
He frequently takes time out his schedule to be of service and offer individuals support that may not even believe and support him. “I could be done with it all, be mad and upset and leave. But that would hurt all of us in the long run. I have tried to pitch this idea at Microsoft and they did not care. I’ve spoken to many other who did not care, and you know what I said, Amos? Forget them, I’ll go create it. These big organizations and monopolies do not care, and if Elastos is to fail, only darkness will rule the future”.
Rong is concerned about liberties that future generations may be denied as a result of these internet cartels. “It does not matter if we market today or tomorrow, what the Foundation does does not matter. I am aware that we may currently be having performance issues with various parts of the project. What project doesn’t? However, I can tell you this, the New Internet will be built. It will be up to you all to tell it what to do and where to go. Not me, not the foundation, but everyone. Me? I’ll be here taking the blame and attacks people send forward. It is my dream, that is my responsibility. We will build this internet and then leave it in the community’s hands”.
Cyber Republic is where your eyes should be set. The Elastos Foundation is keeping its promise to us as we see various components of the New Internet being built and released regularly. With the product being made, and with the assistance of the Foundation, we are seeing adoption already taking place. It is now our turn to keep our promise to Rong and the Foundation. The fundamental deciding factor to success boils down to one thing: participation.
I say, contribute today, work today, develop today! For whatever happens with this New Internet will be left to us to decide, as the Cyber Republic, the world’s first Decentralized Nation.
Elastos is not a vision of gains, it is a vision that will gain.