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Tron Foundation Set To Dissolve, With Justin Sun Steps Down

The Tron Foundation, the organization behind the TRON (TRX) cryptocurrency in an announcement reveals it’ll dissolve itself next summer. Thereby, leaving the blockchain’s ecosystem completely in the hands of its community.

“📢@justinsuntron’s Open Letter on #TRON’s decentralization and Justin’s appointment as the Ambassador.”

“✅The #TRON Foundation has settled to dissolve itself on July 25, 2021”
*✅Justin Sun has accepted the appointment as Ambassador, Permanent Representative of Grenada to the @wto https://t.co/UbBMgrRkMh
— TRON Foundation (@Tronfoundation) December 17, 2021

Furthermore, Tron founder Justin Sun confirms he is stepping down as the CEO. Also, he’s ready to take up a job with the government of Grenada. Of course, as its ambassador to the World Trade Organization (WTO).

“Sun’s expertise in the blockchain industry will likely breeze some much-needed fresh air…”
“into the regional economy, as Grenada and [intergovernmental organization]…”
“CARICOM are among the hardest hit by a Covid-led tourism industry shutdown,”


So, the Tron Foundation reveals in a press release.

More so, Sun confirms that


“the TRON blockchain protocol is now essentially decentralized”
and “sufficiently self-sustainable as a decentralized autonomous organization” (DAO).

“For the greater benefit of society, there’s nothing better than having a founder of a…”
“thriving community abdicate all power over users, assets, and data,”

Then, Sun adds


Consequently, Tron Foundation’s three original nodes; ”justinsuntron,” “BitTorrent,” and “µTorrent” are no longer part of the list of blockchain’s “super representatives”. This means the network is now in the hands of 27 super representatives entirely by the community.

Furthermore, Sun reveals that he’s new Grenada’s ambassador role to the WTO will allow him to
“fight for the interests of developing countries”and also
“promote the development of the blockchain industry and digital economy.”

So
, “It’s time to forge closer collaboration between the blockchain industry…”
“”and international sovereign states,”


Lastly, Sun continues.

“I believe that the World Trade Organization’s recognition of blockchain…”
“technology’s value is of vital importance to our industry.”

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