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Golem announces new initiative to pursue innovative, experimental and riskier research

Computer network.Max Pixel/Max Pixel

Mon, 01 Jul 2019, 04:03 am UTC

Golem, the entity that is known for developing decentralized CPU power, recently announced that it is branching off with a new focus in mind called the Golem Foundation. It will be testing the waters to see if its new approach will work and increase the value of its Golem Network Token (GNT) offering. As it stands, however, the announcement was quite non-specific when it came to details.

The firm made the announcement via blog post, which provides some interesting information on what this new Foundation will be for.

While the post lacked specifics, it did note that it will be under the direct supervision of Andrzej Regulski and Golem Factory CEO Julian Zawistowski. The Golem Foundation, it said, will “strive for new - perhaps innovative and experimental, and at the same time riskier - approaches to the value proposition for Golem and for the Golem Network Token (GNT).”

“The Foundation has been endowed with a portion of the original capital raised in Golem’s crowdfunding, which also means taking a part of the original liability towards the community that generously supported us back in 2016,” the post reads.

“Such an expansion of our structure will allow us for even better use of our resources. Golem Factory will be able to focus on the further development of the Golem platform, while the Foundation will have a chance to explore other opportunities without introducing any risks for the project.”

As for the Golem Factory itself, several projects coming from the firm have already been reported. After Brass Golem, the startup was also supposedly releasing another beta product called Clay Golem. In addition to that, another project is allegedly being developed called Golem Unlimited, CoinDesk reports.

So, while it appears that Golem is looking to expand its horizons with the Golem Foundation, it is still keeping to its original promise of delivering alternative computing resources. It was also made clear that these two entities will be operating with a significant degree of independence from each other. They may share liabilities, but they don’t share goals.

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