TRON (TRX) Founder and CEO Demonstrates His Support for Net Neutrality

Siamak Masnavi

On Thursday (1 November 2018), Justin Sun, the founder and CEO of TRON Foundation, announced his support for net neutrality, and demonstrated this support with a $10,000 pledge to, a crowdfunding effort by the non-profit organization "Fight for the Future", which was founded in 2011 with the mission of ensuring "that the web continues to hold freedom of expression and creativity at its core." The goal of this organization is "to build tech-enhanced campaigns that resonate with millions of people, enabling them to consolidate their power and win historic changes thought to be impossible."

Net neutrality "is the principle that Internet service providers treat all data on the Internet equally, and not discriminate or charge differently by user, content, website, platform, application, type of attached equipment, or method of communication."

Fight for the Future's latest campaign is about putting pressure on the U.S. Congress to save net neutrality -- which was killed on 11 June 2018 following a vote by the Federal Communications Commission (FCC) in December 2017 -- by passing legislation that would "effectively force the FCC to bring back the rules the FCC approved in 2015." Under the Congressional Review Act (CRA), "Congress, with the approval of the president, can not only reject regulations issued by a federal agency but effectively bar that agency from taking similar action again."

The website says that although the Senate has already passed a resolution, "now the House is running out of time to do the same." It further says that the money being raised will be used to the following:

  • "Flood Congress with phone calls, tweets, and emails"
  • "Run crowdfunded billboards, newspaper ads, and online ads"
  • "Organize in-district actions and events"

Here is how Justin announced his support for this campaign on Twitter:

The press release by the TRON Foundation says that Justin's $10,000 donation will "help fund efforts to educate voters in key districts across the country to vote pro-net neutrality and support lawmakers to reverse the decision that ended net neutrality." This donation comes shortly after TRON's "initial pledge of $3M to the Blockchain Charity Foundation headed by Binance."

The press release also contained the following quote from Justin:

"Given my deep belief in an open and decentralized internet, I support and urge others to do the same in this critical moment where Congress can still act in favor of net neutrality. When the internet is free and open, it fosters innovation that benefits not just a few, but all of us. It's our responsibility to protect these core values and push our community towards the cause."

Justin, who is also the CEO of BitTorrent, apparently "plans to energize support from the BitTorrent community of over 100M users." BitTorrent "has a long-standing history of supporting net neutrality and also and through campaigns that have urged tens of millions of users to get involved."

Featured Image Courtesy of the TRON Foundation

Justin Sun: TRON Aims to Get to 2,000 Dapps by the End of 2019

The head of the TRON Foundation, Justin Sun, has recently spoken about the cryptocurrency's ecosystem and about the development of decentralized applications (dApps) on it. Sun revealed TRON is looking to launch 2,000 dApps on its blockchain by the end of the year.

The TRON Foundation, an organization focused on the ongoing development of TRON (TRX), one of the largest platforms for building decentralized applications, has argued that price “instability” in the crypto market “creates a lot of skepticism about the long-term prospects of the blockchain industry.”

The organization explained in a blog post, posted on April 17, that “companies and institutional investors are sitting on the sidelines and not [using] blockchain or cryptocurrency as a form of payment because” of the extreme volatility of cryptoasset prices.

TRON-based USDT Will Help Stabilize Crypto Market

The Foundation’s recently published blog post revealed:

[High volatility in cryptocurrency prices] is a big reason why we need stablecoins on the TRON network. By implementing a [TRC-20 based] USDT on [the] TRON blockchain, we’re taking a [huge] step into a world representing stability — and into the world of decentralized finance.

The TRON Foundation’s management also noted that “users in [South] Korea will be able to quickly and efficiently transfer” USDT payments “back to relatives in Israel” or in other countries throughout the world. It added that “consumer electronics [manufacturers] will able to pay Asian suppliers and track the progress of their purchased goods every step of the way.”

More Trading Pairs For USDT Including BTT, TRX

Commenting on the Foundation’s decision to implement a TRC-20 based USDT stablecoin on the TRON network, Justin Sun remarked:

I think of USDT built on [the] TRON blockchain as a win for the blockchain industry and for our community. More people will be able to trade TRX, BitTorrent (BTT), and other TRC-based tokens through the TRC20 based USDT pair, creating liquidity. In turn, liquidity helps build confidence and trust that typically results in greater stability throughout the ecosystem.

As mentioned in the organization's blog, an “incentive plan to reward holders” of the TRON-based USDT token will be launched, “by airdropping super-attractive APRs over the first 100 days after launch.”

The incentive plan has been introduced in order to help “accelerate the transition from the USDT-Omni product” into a “more robust TRC-20 based USDT offering,” the TRON Foundation's blog stated. Going on to confirm that the TRON Foundation does not hold any user assets, the distributed ledger technology (DLT) development organization noted the funds are “safe and sound on [blockchain-enabled] exchanges and in individual wallets.”

Explaining why the introduction of the TRON-based USDT will help the cryptoasset ecosystem, Sun said:

As we introduce this new stablecoin, I ... firmly believe it will accelerate our push to be the leading platform for developers of dApps. We already have nearly 300 [dApps] on TRON in just a few months, and we aim to get to 2,000 by the end of this year. More people will be able to engage with these dApps as it’s a lot easier for people to understand and use a stablecoin in a consumer-facing use case.