VeChain Foundation Just Announced The 2nd Term Steering Committee Election

SINGAPORE, Nov. 16, 2021 /PRNewswire/ -- An exemplary governance model for an enterprise-grade public blockchain requires a specific set of qualities: transparency, integrity, and performance. It is the VeChain Foundation's unwavering vision to maintain and incrementally improve such a model and ensure a robust, detailed design that utilizes a mutually reinforcing mix of legal, cultural, market, and codified elements to help steer the collective.

Since the initial stages of development, VeChain has been pursuing the goal of designing and promoting a governance model that better incentivizes stakeholders to participate in the governance process and, ultimately, use this research to promote sustainable and mass adoption of blockchain.

As per the Governance Chapter of the Whitepaper, the Steering Committee ("SC") of the VeChain Foundation, elected by eligible stakeholders of the ecosystem every two years, facilitates the efficiency of decision making and ensures the fairness and effectiveness of execution for all fundamental matters that require stakeholders' input.

Despite the pressure of COVID-19 we made tangible progress towards ecosystem growth, including a major consensus upgrade of PoA 2.0 and national-level innovations on Sustainable Development Goals ("SDGs"). During this time, we have also been actively searching for candidates that share the vision of creating a sustainable distributed business ecosystem on top of the VeChainThor blockchain while representing the various stakeholders in the ecosystem. In pursuit of this agenda, the VeChain Foundation officially announced the commencement of the 2nd term of SC elections.

Current Board: Top Tier Professional Minds

The Board of Steering Committee represents the VeChainThor blockchain stakeholders' interests of long-term development of technical infrastructure, business expansion and VET value enhancement.

The current board has gathered talents and resources from enterprises and academies such as Renato Grottola, SVP, Global Growth & Innovation Director at DNV Supply Chain & Product Assurance, George Kang, SVP and Regional Manager of Supply Chain & Product Assurance Group, Greater China at DNV, and Sunny Lu, CEO of VeChain, ex-CIO of Louis Vuitton China.

All members represent the VeChain Foundation on various occasions such as professional associations, academic organizations, industrial forums, technical conferences and more, in which they should be capable of elaborating on VeChain Foundation's strategy and vision, networking and bringing in the necessary resources to help the growth of the ecosystem.

Next Round of Election - Leading The Sustainable Future

Assuming no acts of force majeure, the elections of the VeChain Foundation Steering Committee happen every two years, with the term of the next Steering Committee beginning from March 2022. Starting from now onwards, eligible applicants can submit all required application forms, including the declaration of intent form, to the VeChain Foundation operations team.

It was October 2018 when VeChain launched the first Digital Carbon Ecosystem project. Since then, VeChain has worked on multiple carbon-related projects across the EU and China and provided enterprises with blockchain-enabled sustainability solutions. As one of the most eco-friendly public blockchains, VeChainThor is committed to helping global enterprises and governments achieve SDGs efficiently, quickly and at low cost.

We recently announced that Antonio Senatore, ex-Global Blockchain CTO at Deloitte has officially joined the VeChain Foundation as Head of Technology for SDGs, with the immediate goal of building VeChain's technical force focused on delivering SDGs and related Ecosystems. He is also a member of the current SC board.

If your intent is to take your application further, we highly recommend learning more about the election rules and declare your intention to run as soon as possible.

About VeChain Foundation

Launched in 2015, the VeChain Foundation has worked tirelessly to build the bridges between blockchain technology and the real world. VeChainThor's evolution continues to gather pace, transitioning from consortium network to best-in-class public blockchain platform using Proof of Authority consensus, boasting advanced technical features, governance structure and economic model.

As the ecosystem enabler, the Foundation's mission is to empower builders and innovators by developing tools that systematically eliminate adoption hurdles. Through the development of a suite of innovative tools such as Multi-task transaction, fee delegation and VeChain ToolChain™️, VeChain has been able to substantially lower the barriers to entry for businesses and developers alike.

VeChainThor has already been applied across a diverse array of use cases, aiding the daily operations of corporations, and creating new value and efficiencies. Alongside key strategic partners PwC and DNV, VeChain has collaborated with world-leading enterprises including Walmart China, Bayer China, BMW Group, BYD Auto, PICC, Shanghai Gas, LVMH, D.I.G, ASI Group and more. For more information, including developer tools/documents and foundation grants, please visit: www.vechain.org

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