The decentralized autonomous body known as the Secret Network, which regulates the block chain With an emphasis on privacy, he apparently made the decision to reorganize his foundation to function as a nonprofit organization with a “transparent operation,” as stated on the proposal’s website. On the web page dedicated to the proposal, this decision was disclosed to the general public.

Under the plan that was developed, the newly established group would “register as an NPO and submit an annual account of its operations, including key performance indicators (KPIs), funds and targets.” At least three people who are already involved in the community the foundation serves will make up its board of directors, which will be responsible for overseeing the organization’s operations. It is proposed that no entity be allowed to hold more than two board seats at any one time if the notion is to be implemented as it is now. The current restriction of one seat per corporation would be increased to accommodate this new provision.

The victory was his with 90.13 percent of the votes in his favor. There was not a single vote cast by DAO members in favor of vetoing the measure, and 9.87% of members chose not to participate in the vote. Nor was there a single vote cast in favor of vetoing the proposal.

After a public dispute erupted between two independent entities promoting the Secret Network called SCRT Labs and the Secret Foundation, the license was finally granted. The dispute revolved around who would get priority when it came to advertising for the Secret Network. Guy Zyskind, CEO of SCRT Labs, accused Tor Bair, CEO of Secret Foundation, of cashing in SCRT tokens as a dividend that he paid himself without disclosing the transaction. Guy Zyskind is the CEO of SCRT Labs. Tor Bair is the CEO of the Secret Foundation. This lawsuit was filed on January 14.