The CEO of Cosmos resigns to dedicate himself to the Virgo project
Jae Kwon, co-founder and CEO of Tendermint and president of the Interchain Foundation, revealed in a series of tweets Tuesday night that he will be leaving his position at Cosmos to work on a side project. Tendermint is the company behind the development of the Cosmos SDK.
Cosmos Network was launched in March 2019 to act as the internet of blockchain. The project claims that it provides a secure and scalable ecosystem that supports interoperability between thousands of blockchains for a new token economy. Since its launch, it has apparently become one of the most promising in the blockchain space, with its native token, ATOM currently ranking as the 19th largest cryptocurrency in terms of market capitalization.
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According to Kwon, he will be pulling out of the Cosmos blockchain, so that he can focus on Virgo and make sure the ICF performs its functions as intended. The ICF is a non-profit foundation with a mandate to promote and develop technologies and DApps that focus on the Cosmos ecosystem.
AiB, on the other hand, is a software company that was hired by the ICF for the development of the Cosmos Hub, AiB is also commonly called the Tendermint team, with Kwon as co-founder and CEO, a role he is about to leave. Kwon said that proposed have the CEO position completely removed from the bylaws because the role is a problem.
“I am not the problem; the role of the CEO is. All in Bits, DBA Tendermint, will be a company that will adopt radical transparency and radically new social norms that allow expression and psychological safety, will define a new system of Process and Culture of Opening"he said, adding that “The cosmos is good, keep it good. But trust no one, and don’t worship heroes, or any butlers without skin in the game, it’s mostly about structural incentives”.
Not necessarily leaving the cosmos
This move does not mean that Kwon is abandoning the Cosmos project. The CEO said he would resign once his transition plans have been finalized, and after that, he will continue to serve as a board member of the ICF. This move does not mean that Kwon is abandoning the Cosmos project. The CEO said he would resign once his transition plans have been finalized, and after that, he will continue to serve as a board member of the ICF.
«I won't 'leave' Cosmos»he said, even though the project currently works fine without him. Kwon said he believes his focus on Virgo will attract more people to the Cosmos ecosystem and help keep it as one. «sub-mission». Virgo is a foundation that aims to provide the world with the best open collaboration technology. An excerpt from your website says what. It aims to use this new foundation to help solve the world's greatest challenges, such as preventing catastrophic climate change and environmental destruction, and meeting the basic human needs of members around the world.
