Waves Launched a Non-Profit Association Under German Law

Published on by Cointele | Published on

According to a Feb. 3 press release, open source blockchain platform Waves established a non-profit organization called Waves Association in Frankfurt, Germany to provide effective governance for its own ecosystem, Web3, and to foster the development of DLTs, including public and private blockchain protocols.

Uniting six countries The Waves Association will be represented by ten community members from six different countries: Portugal, Spain, Switzerland, Germany, the Netherlands, and Russia.

Goals of the non-profitAccording to the press release, the Waves Association will actively collaborate with universities, research centers, as well as companies and governments in Europe and around the world.

The association will furthermore develop DAO-like tools and blockchain-based solutions for decision-making and member engagement, including voting and decentralized management.

The Waves Association also intends to support the Waves protocol and infrastructure, which includes a decentralized network, technologies, and various development tools, with a focus on the Gravity Hub, a blockchain-agnostic protocol that solves interoperability issues.

Under German tax code The Waves Association is registered as a non-profit organization under the German tax law.

Winheller was led by German attorney Johannes Fein, who was also responsible for the founding of the association.

Last year, Waves announced the development of a new generation of its technology, including the Gravity Hub interoperability protocol, which unites third-party blockchain protocols like Waves and Ethereum.

On Dec. 2, Waves launched its own exchange using its own blockchain protocol.

Earlier in September, Waves transitioned to a self-regulating monetary system, allowing the community to determine the block generation reward size and coin supply.