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TMCNet:  XDB Foundation Formed to Support DigitalBits

[June 25, 2020]

XDB Foundation Formed to Support DigitalBits

Grand Cayman, Cayman Islands, June 25, 2020 (GLOBE NEWSWIRE) -- (via Blockchain Wire) The DigitalBits ecosystem has gained a new key contributor with the formation of the XDB Foundation (the “Foundation”), a non-profit organization dedicated to supporting DigitalBits, as well as related initiatives and technologies.  The XDB Foundation’s key initiatives include the DigitalBits Ecosystem Support Program, aiming to provide both financial and non-financial assistance to qualified entities and projects within the DigitalBits community, with a focus towards innovation and accelerating ecosystem growth.

Michael Gord, MLG Blockchain and GDA Capital (“GDA” or “Global Digital Assets”) founder, has been appointed to the position of Managing Director of the XDB Foundation. Michael brings a wealth of experience to the table, spanning both professional and evangelistic initiatives in the following categories:

Enterprise & Government - Under Michael’s leadership, GDA and its subsidiaries have worked with Fortune 500 companies, such as Toronto Dominion Bank, as well as governments in North America, the Caribbean, Africa and Asia.

Community Development - Michael has contributed to some of the world’s largest blockchain ecosystems, including TRX, LRC, and ONT.            

Developer Ecosystems - Michael has spearheaded initiatives such as Canada’s Next Top Blockchain Exec, the global Blockchain Gauntlet startup competition, global hackathon events such as the Borderless Block Party, and the build-out of global industry ambassador networks. 

Education Evangelism - Michael’s first initiatives within blockchain started with establishing the McGill Students’ Cryptocurrency Club, McGill Students’ Fintech Association, Bitcoin Canada and providing leadership on the global expansion of the Blockchain Education Network.  Notably, he is also a key contributor to the Kerala Blockchain Academy, one of the largest innovation hubs for blockchain technology worldwide. 

Foundation Governance and Objectives

The XDB Foundation will also establish a set of committees focused on the oversight of governance, education, research and development, and ecosystem growth and adoption. The Foundation’s core objectives include the following:

  • Support innovation and adoption of the DigitalBits blockchain
  • Shape commercial standards and requests for technical development
  • Growth of the DigitalBits Community through a diverse regional strategy
  • Accountability and sustainability practices
  • Facilitate partnerships and ecosystem development

The DigitalBits Project

The DigitalBits Project, since its founding in 2017 and the unveiling of the DigitalBits blockchain in March 2018, has seen a robust array of support from an ecosystem of top-tier partners, including developers, other blockchain projects, exchanges and enterprise partners. As the new project lead for the DigitalBits Project, the XDB Foundation is also able to leverage these building blocks to support the next phase of commercial integrations and brand adoption. The Foundation will provide a framework to help ensure longevity, integrity, and effective collaboration between the Foundation, the DigitalBits Project and a hallmark of commercial companies.

Moving Forward

As Q2 approaches an end, it is exciting to see all that has been accomplished since the DigitalBits Project first launched.  Under the oversight of the XDB Foundation, future roadmaps will be published. This will include a new category, Brand Integration, added to the DigitalBits Roadmap, to share updates from the robust ecosystem partners that will leverage the DigitalBits blockchain for their unique solutions. 

“I am excited to see the launch of the XDB Foundation and to be joining the DigitalBits ecosystem in this new capacity,” says Michael Gord, Managing Director, XDB Foundation. “In the coming weeks, the XDB Foundation will share additional updates regarding its key initiatives.  Over the past 2 years, we have seen DigitalBits achieve various milestones and with this next chapter I’m excited to see the XDB Foundation contribute as the new project lead supporting education, research and development, and ecosystem growth and adoption.”

About DigitalBits

The DigitalBits Project is an open-source project that developed the DigitalBits blockchain protocol and a secure, low-cost global transaction network, and tools. This blockchain protocol and network layer support various use cases including consumer digital assets, specifically branded currencies. 

About XDB Foundation

The XDB Foundation is a non-profit organization focused on assisting DigitalBits and related technologies. The XDB Foundation’s core objectives include: supporting the innovation and adoption of the DigitalBits blockchain and the use of cryptocurrency in enhancing the consumer experience and corporate social responsibility initiatives, shaping commercial standards and requests for technical expansion, growing the DigitalBits community through the inclusion of diverse regions; providing accountability and sustainability practices; and facilitating partnerships and ecosystem development. 


Robert Penington

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