Thanks! I would like to Welcome Baby Eloise Grace Lee, she is was born on 21 Jan and is a blessing to us. I'll be sure to teach her about the ways of NEM and the decentralized future she might be unnoticeably living in ;)
Morning all, in light of a recent article in coindesk and discussion on NEM Red. We would like to reassure all proposals and partners that while the NEM Foundation may have financial challenges at present, our own funding and organisation is not affected.Our budget comes from an entirely seperate source and the organisation is not part of the foundation. We work together closely and support each other but exist seperarely both legally and financially.We have our own finances in a seperate trust and already allocated in coordination with the core devs and the community
Wouldn't it be a goood idea to put some clarification on the nem website(s) about all current nem related organisations, structures, companies and their relationship and their funding. I'm thinking about the core dev team (three of them?), TechBureau, NEM Ventures, The Foundation and its international components, including the difference between paid staff, volunteers and community. Financially, most if this goes back to the funds the core dev team has created and set aside in the NEMesis block.It could be a good iedea, unless some of these groups are interested to keep some of these details as hidden secrets and want to keep the public unaware of some historical facts.I could start writing ...., but somehow I believe it is not up to me 😉
I agree, I like this idea. We don't control the NEM.io website but I will try and put something on ours - probably take a couple of days as we had other stuff planned before all this noise became a distraction. I suspect the foundation is probably busy just now comms wise, so it may take a while to have that conversation, I'll leave them to it for the time being.In the meantime, I tried to map this out in a simple picture for people on here which may help - any longer time NEMbers feel free to correct it, its a draft. In time I'll put it up on our site with a paragrap on each one
With regard to the CoinDesk article, there are three items I think should be corrected:1. NEM Foundation at this time has not submitted a proposal to the NCF for funding, despite CoinDesk saying it will, I have spoken to a member of the council and they are looking at other reserved funding pools (with a public vote), that was an interpretation2. The Foundation doesnt control any of those reserved pools, so the quote that the 202 members of the foundation will vote is unlikely to have any sway, it will need to be a community, probably PoI, vote. In a similar way Ventures did back in Sept.3. Lon Wong did not found "NEM" in 2015, NEM was released in 2015 and was "founded" by a forum post by UtopianFuture, NIS1 was released in 2015. About 1.5-2 years later (maybe 2016 or 2017 I don't have the date to hand) the foundation was created and funded by reserved pools allocated in the Genesis block for this type of purpose. @Erik_VH and @kodtycoon are 2 of the founding 10 members and because they were there, anything they say on this should be taken as good information. Lon Wong was the founding president of the NEM Foundation, not of NEM, NEM is a distributed community that has no single leader.I havent fact checked the rest but the above are 3 elements I know to be inaccurate.I would urge people to read the formal announcement from the Council on the NEM Forum: https://forum.nem.io/t/nem-foundation-message-to-the-community/21753 I personally appreciate the openness in this post and that there and intention to outline the plan to the community for approval and @DyNEMite (and the team) should be credited for being transparent with how they intend to deal with a situation.
Who was the source for the CoinDesk article anyway? NEM has never received significant attention from traditional crypto media. And now, when there is some news with potentially negative impact on the market, this news gets published within a few hours?
Despite only 12 are mentioned incomplete here https://nem.io/about/foundation/ , there were 14 NEM Foundation Ltd founding members:1. Chan Ken Leng2. Wong Kian Lon3. Jeffrey Thomas McDonald4. Li Shiteng5. Yeoh Jit Leong6. Kailin O’Donnell7. Kristof Alfons Simonne van de Reck8. Nelson H. Valero9. Niko Markus Juhani Mäenpää10. Ewan Henry Trevis11. Clayton Matthew Bittle12. Albert Castellana Lluis13. Jimmy Batifol-Oliverio14. Erik Maria W Van Himbergen
Jeff is not mentioned on the website as founding member, probably because he is still a council member, mentioned on top of the page.Li Shiteng is mentioned nowhere, so I expect him to be the non-crypto guy asked by Lon for the purpose of facilitating and executing the administrative Incorporation.Any additional info about the beginning of the Foundation can be found here: https://blog.nem.io/nem-foundation-inauguration/
The first proposed council did not include myself yet, as it was mentioned/suggested I would be taking on the role as Belgian/European lead and join the Council afterwards. So I agreed to vote for the proposed Council then.And after the first council was in place, i was never contacted to actually take on that role. It was only much later I discovered somebody else had that title on his business card. I guess bad politics were already active then ...
I found some results of an early exercise I did on the NEMesis funds. Not sure if I should post that here. Basic info that got me started was the Developer contract. That should be mandatory reading for all community members and mandatory knowledge for all those involved a little bit more. I can't seem to find it anymore on the nem.io website. I wonder why the document is no longer available? Would that be on purpose?Anyway, this link still seems to work: https://drive.google.com/file/d/0B_0Z9jDGHPxPbndmbm96eW1XaEk/view
Thanks @garp I think maybe we should take it private and add stuff to a summary. I'm not going to do a forensic exercise on the foundation and what was or wasn't done over the past 2 years, it was just an attempt to help people understand how the ecosystem fits together and why the foundation is part of, but not all of NEM as there seems to be a lot of confusion.I'll try and put something on our own website over the next few days as well with a paragraph or so on each.