The Phore Foundation will be established in Q2, 2018. This will be one of the many branches of Phore Blockchain, however, The Phore Foundation will also carry a significant amount of weight and influence.
It will be a non-profit entity whose purpose will be to support, standardize, and promote the development of Phore Blockchain.
This will be achieved through various avenues including:
- Establishing partnerships
- Engaging in industry networking
- Supporting the pursuit of new business ventures
- Making strategic investments
- Enabling the development of new blockchain technologies
- Providing legal counsel and protection of our intellectual property (IP)
- Enabling promotional efforts within the community and industry
- Engaging in philanthropy
- Staying on top of, and preparing for, future industry regulation and compliance
In essence, the Phore Foundation will be the tool with which the development of many aspects of the project will be enabled to flourish and grow. This entity will empower Phore Blockchain to engage in key support activities that will put us in a position to stay competitive in our fast paced environment.
An important division within The Phore Foundation will be Phore Labs. Phore Labs will serve to provide seed funding for new products, services and IP needing development and refinement prior to release in the Marketplace for sale, or for further public investment through Decentralized Crowdfunding. Phore Labs will serve to incubate new and potentially ground-breaking digital properties and increase its investment power as time goes by.
It is important to note, the Phore Cryptocurrency (PHR) and Blockchain will continue to function as a community owned and governed system that relies on democratic voting, Masternodes and Staking, however, the changes implemented with this organizational structure will allow us to reach a wider B2B market within the Enterprise Sector, safeguarding Phore Blockchain’s future sustainability.
Ultimately, The Phore Foundation will serve as the backbone of numerous aspects of Phore Blockchain in order to foster continued development for competitive products and services for years to come.