The Ethereum co-founder will advise the organization on blockchain and cryptocurrency issues
Ethereum co-founder Vitalik Buterin will advise the re-established Dogecoin Foundation, a statement published on Tuesday revealed.
THE About page the Foundation lists Vitalik as one of the four Council Advisors, with the role of advising the team on blockchain and cryptocurrency issues.
In addition to guru Ethereum, other key advisors will include DOGE co-founder Billy Markus, aka “Shibetoshi Nakamoto,” as community and meme advisor; Max Keller, Dogecoin Core developer, who will be the technical advisor, and Jared Birchall, who will represent the self-styled “Dogefather” Elon Musk.
Previously established in 2014, the Foundation took a back seat as the meme currency remained in the shadows of the broader crypto market. Now, the team wants to have a robust organization that will, in the coming weeks, announce new projects aimed at complementing the core cryptocurrency portfolio.
The Foundation will not seek “take over control”, but “speed up” the development, clarifies the statement.
“We believe that Dogecoin’s success is due to its wide adoption and global usefulness, and we intend to focus on projects that increase the acceptance of Dogecoin at the grassroots level,” noted the organization.
The Foundation will also seek to protect the Dogecoin brand by assuming custody of the Dogecoin brand and logo. This will maintain the brand for the community, allowing its use in DOGE-related memes and other fun projects.
Dogecoin continues to gain traction after explosive performance in early 2021 saw its price hit highs of $0.73 on May 8th. The price has since dropped to current lows of $0.30 as the broader cryptocurrency market struggles with downward pressure. But despite the drop in prices, the Dogecoin brand continues to expand, with the DOGE logo currently featured on the kit from English Premier League club Watford.