The Electra Foundation is a not-for-profit organization supporting the development, adoption, and promotion of the Electra Protocol blockchain. The foundation has a number of responsibilities in regards to Electra Protocol:
- involvement in identification and due diligence processes
- supporting efforts to list XEP on exchanges
- signing agreements with partnering entities
- funding community initiatives
- supporting blockchain developments such as smart contracts platform
- supporting the creation of tokens/smart contracts which don’t need programming skills
- supporting the issuance of debit cards, micro loans, insurance, and other products
- educating the public about blockchain adoption
- publication of websites and services
The Electra Foundation is based in Tallinn, the capital city of Estonia (Europe) and it is operated by volunteering members and advisors.
The creation of the Electra Foundation was especially driven by the belief that crypto projects have to be fully compliant to upcoming regulation in order to be long-term successful. That’s why the Electra Protocol blockchain is not driven by any means of funding via ICO (initial coin offering), initial exchange offering (IEO), or venture capital (VC).