RATE Group | Why Cryptocurrency Companies Prefer to Register as Foundations
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Why Cryptocurrency Companies Prefer to Register as Foundations

05 Aug Why Cryptocurrency Companies Prefer to Register as Foundations

Posted at 13:08h in Cryptocurrency News by

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The cryptocurrency market and the rapidly growing blockchain industry have demonstrated that even established systems—such as currency—could be completely changed within a short period. There are so many peculiar things about this new sector, and one of them is that many of the blockchain companies are registered as not-for-profit foundations. To understand why the foundation status is best suited for crypto firms, we must understand how foundations are structured as opposed to other forms of legal entities.

 

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One of the most significant concepts on which blockchain technologies and cryptocurrencies are built is decentralization. The idea revolves around removing control from a centralized organization and placing it in the hands of the masses. Decentralization can be applied widely and has even been advocated by the World Bank as one of the ways of empowering communities at the local level.

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