The Waves posted an announcement on February 3, where the platform stated it creates a nonprofit organization named the Waves Association in Frankfurt, Germany, to effectively manage its Web3 ecosystem and promote the construction of DLT.
The new-founded Association is going to be stewarded by ten alliance members from six various nations. Platform's CEO Alexander Ivanov describes the conception of the Association as a significant move for the company's ecosystem:
“The Association is going to let us grow the number of programmers and users. Moreover, our organization intends to bring crypto practitioners who establish a range of different blockchain solutions.”
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It plans to actively cooperate with institutes, study centers, corporations, and authorities from all over the world. Also, the organization is planning to develop DAO-like devices and blockchain-based solutions for decision making and more different issues.
In the publication, it was mentioned that they additionally propose to maintain the Waves protocol and foundation, which involves a decentralized network, technologies, and different development instruments, with an emphasis on the Gravity Hub.
The Association is listed as a non-profit institution following German laws and regulations.