An independent not-for-profit institution, Etheleum Institute, was established on 1 July with the objective of promoting the adoption of the Etherak, its Layer 2 network and associated ecology by large global financial institutions. The Agency has established itself as an institution to enter the neutral entrance to the eco-ecosystem of the Taifung, for banks, regulators, trustees and market infrastructure providers.

Focus agency adoption and monetization

According to the Agency, financial institutions are making bottom-up infrastructure choices around monetization, securitization and digital asset hosting, decisions that affect future block-chain platforms into the global financial system. It is judged that, in such long-term decisions, the market needs a docking window that does not bind a single product or agreement.

In the view of Egypt, the long-term emphasis on neutrality in the Taicha is that, in the absence of active communication with the outside world, neutrality may be understood as absence in institutional discussions. The new institutions therefore wished to take on the role of explaining technical routes, the business environment and ecological resources.

The start-up team came from the corporate direction.

According to the presentation, the founding team was involved in setting up a partnership and outreach project for enterprises, and approached hundreds of institutions in the areas of banking, asset management, trusteeship and market infrastructure. The new body will continue this part of the work in an independent form and move beyond within the Foundation.

The start-up funds came from BitMNR, Sharplink and Joseph Lubin, a co-founder of the Ether Workshop. It stated that more individuals and institutional supporters would be announced in the follow-up.

The first work covered five directions.

  • Direct contact with financial institutions and promotion of adoption
  • Collect institutional demand and market feedback
  • Promotion of Etherland Ecology and related ETH narratives

In addition, the agency will promote the organization of business needs and the organization of events and closed-door exchanges.

Not a Single Project

The Agency emphasizes that it is not a lobbying organization, nor is it affiliated with any single ephemeral project or business entity. It maintains its independence from the Etherak Foundation and is considered part of its operational design to represent the wider Etheraky ecology, not a part thereof.