Truffle to Leave ConsenSys, Receiving $3M Financing

The founder of ConsenSys, Joseph Lubin, will join the board of directors of Truffle
30 April 2019   419

The creators of the popular Ethereum developer tools called Truffle Suite, separated from their parent company ConsenSys, receiving from it $ 3 million of funding to focus their efforts on meeting the needs of corporate clients, Forbes reports.

Under the terms of the agreement, the founder of ConsenSys, Joseph Lubin, will join the board of directors of Truffle. The project intends to use the funding received to create a “enterprise-grade suite of blockchain development tools" and to attract new employees.

In the future, Truffle will work with Axoni, supported by Goldman Sachs and JPMorgan. Together, they will work on a product called AxCore, which will be used by the Depository Trust and Clearing Corporation to process transactions for $ 10 trillion per year. Even before the start of the official collaboration, Axoni used Truffle’s public tools.

Enterprise adoption is finally happening because the maturity of our space is finally advancing to a level where enterprises can capitalize. Not only that, but they have the funds to invest into making this the experience that it should be, the technology that it should be.
 

Wes McVay

vice president of partnerships, Truffle

In the near future, Truffle may name the names of its institutional partners. In addition, it plans to integrate its solutions into Quorum from JPMorgan, Hyperledger Sawtooth from Intel and other blockchains targeted at corporate users.

dOrg to Become The First DAO With Legal Status in US

DAO is a company in which the centralized leadership and hierarchy is replaced by a smart contract
13 June 2019   194

The decentralized autonomous organization (DAO) dOrg based on the DAOstack framework registered dOrg LLC in Vermont, USA. This was the first precedent in the United States, according to law firm Gravel & Shea.

According to the company, the blockchain-based limited liability company (BBLLC) has a legal status, which allows it to enter into agreements and protect the interests of participants in accordance with applicable law.

Note that a DAO is a company in which the centralized leadership and hierarchy is replaced by a smart contract. Decisions in such organizations are made by voting by the participants, which provides consensus.

dOrg asked us to help design a DAO legal wrapper after discovering the potential of BBLLCs. We believe that dOrg is now the first legal entity that directly references blockchain code as its source of governance. Its material operations and ownership interests are managed entirely on-chain.
 

Oliver Goodenough

Law professor, Vermont Law School and special counsel, Gravel & Shea

dOrg believes that they have made the first step in integrating the DAO format into the existing economy.

Some time ago, Moloch DAO attracted 1000 ETH from Vitalik Buterin, Joseph Lubin, start-up ConsenSys and non-profit organization Ethereum Foundation.