‘Ethereum Foundation is an opaque Swiss foundation related to cryptocurrency’

Ethereum Foundation, the non-profit organization that promotes and supports the development of Ethereum, has constantly been criticized for its transparency policy by both members of the ecosystem and outsiders. One of the most prominent figures who has been quite vocal about the policy, or lack thereof, is Bob Summerwill, the Executive Director of ETC Cooperative.

Summerwill, once again, touched on the topic in an interview with AMBCrypto, remarking that the Foundation is “an opaque Swiss foundation related to cryptocurrency.” He stated that the Foundation has responsibility and accountability in order to present itself as not being nefarious, but trustworthy with mature governance and transparency in operations, similar to any other non-profit organization. Summerwill asserted that there is no non-profit organization in the world that has a free card to act on its free will.

“You are being given a very special trusted status of saying, ‘we’re taking public funds and we’re administering them for social good.’ That’s certainly the case for charities but it’s very much the case for any non-profit. And, what you’ve actually have had at the Foundation is nothing.”

The executive director went to state that the Ethereum Foundation did not publicize information “on most foundation matters.” Summerwill also stated that he had posted a listicle on Hudson’s request on what the Foundation could do better for the community, adding that some of them are being “addressed a little in the meantime,” but many are not.

The listicle included disclosing information about the Foundation‘s board members, the basis on which decisions are taken, information about the voting and whether or not there are regular meetings, the money possessed, and the type of assets held by the Foundation, whether or not they had yearly budget allocation, its members, grants program, and more.

He further expressed dismay over the grant’s program process,…

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