If recent developments are anything to go by, cryptocurrency enthusiasts can expect to come across lots of controversies in the coming days.
Even though the crypto universe has seen new projects being introduced on a regular basis, the fresh proclamations made by the team behind the Zcash Foundation are bound to ignite a much-needed discussion.
Ricardo Spagni was the first person to take a shot at the foundation by calling it out for its cash policies.
The Farce That Is The Zcash Money Policy
When it comes to the crypto universe, there is a need to approach each ICO and every new token using a fresh perspective.
It is common for traders and crypto spectators to overlook the fact that many of these upcoming projects will need to raise funds using one way or the other. In the case of Zcash, it was expected that starting its foundation would help ease some of these problems.
And as things stand at the moment, this is a factor that has not raised any serious questions among traders and crypto enthusiasts. However, there are those that have been concerned by the fact that the Foundation could be backing ICO ventures which many view as ridiculous.
It is a debate that was ignited last week when the Foundation released a press statement indicating that it had found victors of its quarterly Grants Program. The victors were thirteen in total, and they would all be backed by the Foundation in a bid to ensure that their project ideas were transformed into functional and feasible solutions.
As soon as the announcement was made, Ricardo Spagni went on the offensive and took aim at the Foundation for choosing to finance the projects in question. Ricardo had a problem with the fact that the foundation was backing ridiculous projects while he had been personally paying Jane Mercer Weiss salary. Jane is the person charged with ensuring that the Mac and Windows wallets remain online.
So the @ZcashFoundation is using a fraction of the founders reward to pay for largely nonsensical projects. Meanwhile, I’ve been paying @radix42’s salary for ages to keep the Windows & Mac ZCash software alive because I believe privacy is that important. It’s a pleasure, @zooko. https://t.co/Pgm4DFCHv6
— Riccardo Spagni (@fluffypony) November 9, 2018
From this comment, the emerging question is, why has the foundation chosen to give out grants to upcoming startups, yet the very individual who is tasked with maintaining their Mac and Windows wallets continues to have her salary being paid by an outsider? The issue raised by Monero’s creator has raised some serious concerns which ought to be addressed.
When pressed on the issue, Sonya Mann, the Foundation’s executive in charge of communications stated that the foundation had financed two of the four projects that had been submitted by Jane. The extra 2 projects were pulled out by her and her team, as was posted on GitHub.
Sonya went on to add that they had made attempts to try and strike a deal outside the parameters put in place by the Grants Program but had ultimately not succeeded in doing so. The reason behind this being that both parties currently had different ideas and plans on how things should be done.
As such, the only way that they can be able to finance startups is by offering gifts.