Several large Ethereum-based projects have come together to create the Ethereum Community Fund (EFC), a vehicle to connect and fund the growth of Ethereum (ETH) infrastructure, according to the EFC website.
The founding members of the EFC are OmiseGo, Cosmos, Golem, Maker, Global Brain Blockchain Labs, and Raiden.
Ethereum co-founder Vitalik Buterin, Ethereum Foundation executive director Ayako Miyaguchi, and OmiseGo managing director Vansa Chatikavanij will join the project as advisors, according to Jun Hasegawa’s, the founder of OmiseGO, announcement on Medium.
The beginning basis of the EFC is the Infrastructure Grant program, which the website describes as a
“Permanent financial endowment to support and aid projects in building crucial open-source infrastructure, tooling, and applications.”
Jun Hasegawa tweeted at the participating members of the fund yesterday in celebration:
@jaekwon @julianzawist @heikohees @RuneKek Happy to working with you guys !! 😉 Exciting moment has been started with #ECF (Ethereum Community Fund) . Happy to having @VitalikButerin @mi_ayako @vchatBKK as advisors too 😉
More details following. Inquiry https://t.co/xtg7qxx8aK https://t.co/sYBxfhwLLd
— JUNΞ (@JUN_Omise) February 16, 2018
The EFC is not the first Ethereum-based global initiative created to develop Ethereum infrastructure. The Enterprise Ethereum Alliance (EEA) launched in Feb. 2017 is the world’s largest open-source Blockchain initiative.
It is currently partnered with more than 200 organizations, including big financial institutions like JPMorgan, Santander, and Mastercard, Intel. The non-profit’s aim is to bring privacy, scalability, and security to developing Ether and the Ethereum Blockchain.