March 13, 2020
Provo, UT, March 13, 2020—To the Sovrin Community –
We would like to share an update from the Sovrin Foundation. The recent economic climate has forced the Foundation to make some changes to our operations.
The Sovrin Network is operational.
The Sovrin Network was designed to operate in a decentralized manner, independent of the Foundation staff and it’s functioning as expected.
The Sovrin Foundation is moving to a volunteer staff, but continues to operate.
With a volunteer staff, there are some changes that will need to take place:
The Sovrin Community comprises volunteers who develop code, staff committees, and working groups, and promote Sovrin. The community is strong, with hundreds of volunteers from around the world promoting the Sovrin Mission.
The token code is operationally ready and being tested publicly (https://sovrin.org/test-sovrin-tokens/). Developers and organizations can develop applications that use the token and test them on the Testnet.
Launching a token under Reg A+ will require additional funding to file and complete the registration.
Given the current market conditions, we do not anticipate a Reg A+ filing for the Sovrin token in 2020.
To any extent possible, a few of us will remain on board, on a volunteer basis to assist as we can. We will be transparent in our answers to your questions, as we have always been.
For many of you, with whom we have built good working relationships, this will be difficult news, and we don’t like it any more than you do. We want to thank you for your work in wholeheartedly supporting Sovrin’s mission. We encourage you to keep doing their important work for the good of the Network and future so together we can achieve Identity for All.
Executive Director & CEO
About the Sovrin Foundation
The Sovrin Foundation is a nonprofit organization established to administer the Governance Framework governing the Sovrin Network, a decentralized global public network enabling self-sovereign identity on the internet. The Sovrin Foundation is an independent organization that is responsible for ensuring the Sovrin identity system is public and globally accessible.« Building Identity Systems on the Sovrin Network The Status of the Sovrin Foundation »