Tezos Prepares to Launch as Johann Gevers Resigns the Board

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Tezos, one of the biggest ICO of 2017 which raised some $230 million at the time, might now finally be nearing a launch as a board dispute seems to have ended with the resignation of Johann Gevers.

“To serve the best interests of the Tezos Project, Johann Gevers and Diego Olivier Fernandez Pons have voluntarily offered to resign from the Foundation Board,” Ryan Jesperson, a new member of the board, said.

Johann Gevers was accused of misleading the board regarding a bonus he was to take, leading to a dispute between him and Arthur and Kathleen Breitman, the founders of Tezos.

That dispute led to the board withholding funding and gave rise to some six class action lawsuits as the project appeared mired in endless arguments, considerably delaying their planned launch of October last year.

Arthur Breitman, however, appears to have skillfully maneuvered to in effect force Gevers’ hand by planning to go rouge and launch the token in any event.

“We plan on releasing the token and going rogue in the next few weeks. We’re able to release the token on our own terms…

For awhile I felt like I was being ‘gaslit,’ but then I unburdened myself of the morality of it.  Things needed to move forward.  It’s unfair, but we need to ship the code,” Breitman reportedly said.

The developers would have probably had the ability to do so as they have the tech knowhow and hold the Tezos trademark, but the mere suggestion of it seems to have led to sufficient pressure on the board and the resignation of Gevers.

“With the appointment of the two new members to the Board, the Foundation is preparing itself to assist in the timely launch of the Tezos network,” the Tezos foundation says.

Which suggests this most peculiar of disputes might have come to an end, at least perhaps as far as the tech launch itself is concerned.

A tech that, ironically, plans to provide a solution to blockchain governance by incorporating processes within the code itself.

There would be a sort of developers fund and a token holders vote which, when passed, automatically merges the new code in the network, so upgrading it.

How exactly this will work we will have to wait and see for the actual code to launch and the expert analysis of it, but at the time we did think it was an interesting project, although we would have much preferred if they did not literally show for the past few months just how messy governance can become where millions are concerned.

 

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