How XBD Foundation Fuels DigitalBits Ecosystem

DigitalBits Project aims to bridge the gap between blockchain innovation and legacy systems. The network is supported by an ecosystem of technology, integration providers, payment solutions, and more. Currently, the project is trying to move to the commercial phase to accelerate the ecosystem growth. For this reason, it has established a non-profit organization; the XDB Foundation.

Acting as a key contributor to the DigitalBits ecosystem, XDB Foundation will focus on advancing innovation. It will provide both financial and non-financial support to projects in the DigitalBits community. Furthermore, the XDB Foundation will work to implement programs and campaigns to fuel enterprise adoption, acquisition of global markets, fundraising, and much more. 

Michael Gord, Founder GDA Capital has been appointed as the Managing Director. According to Michael, the XDB Foundation will focus on 5 primary pillars to accelerate the adoption of the DigitalBits ecosystem. These are:

  1. Transparency and governance
    XDB Foundation will focus on ensuring that the grant distribution is transparent. It will also streamline all the compliance matters to ensure the project stays on the right side of the law.

  2. Global community development
    With a vision to build a global community, XDB Foundation will identify the community champions. Consequently, it will offer community champions an ecosystem participation opportunity to add value to the same. With this effort, the foundation will build a global XDB Ambassador network.

  3. Developer evangelism
    The XDB Foundation will host hackathons, developer challenges, and startup competitions to catalyze developer evangelism. It will reward developers and will connect them with entrepreneurs to build products. Furthermore, it will also help projects built during hackathons to get funded through investor participation. 

  4. Enterprise adoption
    As the DigitalBits community continues to grow with the efforts of XDB Foundation, the solutions built will be more in line with the enterprise needs. XDB Foundation will connect with more brands and will build enterprise pipelines for the adoption of products.

  5. Global markets expansion
    The Foundation will ensure the ecosystem always has sufficient funds to operate and grow. 
More Contribution
Furthermore, it will set committees to maintain an oversight of all the work done to strengthen the above-mentioned pillars. These committees will support technical innovation and adoption of the DigitalBits blockchain. Apart from that, it will shape the commercial standards to maintain funds for growth of the ecosystem. 
 
According to Michael, the XDB Foundation will devise a diverse regional strategy to strengthen the DigitalBits community across the globe. The foundation will ensure the practices that are being followed are accountable and sustainable.
What is the XDB Foundation roadmap for now? 
As a neutral agnostic governing body, XDB Foundation plans to implement initiatives like DigitalBits Ecosystem Support program. Impressively, foundation is already discussing the concept of branded currencies with large enterprises and have received encouraging feedback. 
XDB joins WSA
The XDB Foundation recently became a member of the World Stablecoin Association (WSA). Precisely, in the association, it will champion the branded stablecoins which is a subset of branded cryptocurrencies. 
Previously, Altcoin Buzz talked about how a leap in blockchain-based rewards is opening up new opportunities for DigitalBits.
XDB Foundation’s long term vision is to have 1 billion users of branded stablecoins. The foundation will work to build such a massive ecosystem within the next 5 years. 
Next Phase of Early Access Program 
Many brands have shown interest in building branded stablecoin infrastructure. DigitalBits is working on its Early Access Program (EAP) with several brands. Furthermore, the XDB Foundation will implement the next phase of EAP. According to Micheal, the foundation will invite enterprises to participate in the program. As a matter of fact, brand integration is one of the ultimate goals of XDB Foundation.
Global community and developer activation campaign
Coinciding with the start of the school year in North America, XDB plans to conduct a DigitalBits awareness campaign. This educational campaign will accelerate blockchain learning. 
Conclusion
The establishment of the XDB Foundation marks an important step in the roadmap of DigitalBits lifecycle. With this, the DigitalBits project will move from a proof-of-concept phase to a commercial phase. 
 
Recently, BitMart, the popular cryptocurrency exchange listed XDB as well.
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