Tron Foundation Will Dissolve Next Summer As Justin Sun Steps Down

Tron Foundation will dissolve next summer as the founder Justin Sun announced he will be stepping down and joining the government of Grenada as an ambassador to the World Trade Organization. Let’s find out more in today’s Tron news.

The Tron Foundation will dissolve next summer as it was announced earlier today after Justin Sun announced he will be stepping down from his role as CEO. Now, the foundation will be left in the hands of the community. The Tron Foundation said in a press release:

“Sun’s expertise in the blockchain industry will likely breeze some much-needed fresh air into the regional economy, as Grenada and [intergovernmental organization] CARICOM are among the hardest hit by a Covid-led tourism industry shutdown.”

📢@justinsuntron's Open Letter on #TRON's decentralization and Justin's appointment as the Ambassador.

✅The #TRON Foundation has settled to dissolve itself on July 25, 2021
✅Justin Sun has accepted the appointment as Ambassador, Permanent Representative of Grenada to the @wto https://t.co/UbBMgrRkMh

— TRON DAO (@trondao) December 17, 2021

In the open letter to the community, Sun noted that the TRON Blockchain protocol is essentially decentralized and self-sustainable just as a decentralized autonomous organization. Sun added:

“For the greater benefit of society, there’s nothing better than having a founder of a thriving community abdicate all power over users, assets, and data.”

For this reason, the Foundations’ three original nodes- BitTorrent, uTorrent, and Justinsuntron, have withdrawn from the list of super representatives and left the network in the hands of 27 super representatives hosted by the community. As for his new job as a Grenada ambassador to the WTO in Geneva, Sun said it will allow him to fight for the interests of the developing countries and to promote the development of blockchain technology and the digital economy. He stated:

“It’s time to forge closer collaboration between the blockchain industry and international sovereign states. I believe that the World Trade Organization’s recognition of blockchain technology’s value is of vital importance to our industry.”

It’s still not clear how Sun landed a government job exactly on the Caribbean Island. However, a spokesperson for Tron said that this isn’t a paid role and added that one of Sun’s goals is to make blockchain mainstream by bringing it closer to the political scene via the World Trade Organization. Sun loves promoting crypto to influential names as we have seen in the past. Back in 2020, he paid $4.5 milion for having a meal with the billionaire investor Warren Buffet and he gifted Bitcoin to the investor who previously called the cryptocurrency “rat poison squared.” Sun later apologized for being “big-mouthed-over-marketer.” But now, the diplomats of Geneva could be more interested in lessons about crypto.