Hoskinson, who left the Ethereum foundation in 2014 before the pre-sale of ETH began, was pushed out of the organization after solidifying his stance on establishing the foundation as a full-profit entity. The Ethereum foundation however, decided not to accept venture capital investment and pursue the path of a non- profit company.
“Concisely, we had a philosophical fight about whether to take VC money or not and I was on the losing side of the fight. I was mutually pushed out of the organization and went on to do other things while they went on to form the foundation. They raised 18 million, launched Ethereum then spent most of it in the first year,” Hoskinson said in an interview.
Immediately after he moved onto other projects like the Bitcoin Education Project and Input Output, a consultancy firm specializing in Cryptography. Earlier this year, amid the Dao fiasco, Hoskinson also joined the Ethereum Classic community to form a better governance system, specifically a decentralized governance system.
Open source community
At various meetups and conferences like the Microsoft-hosted Ethereum Classic meetup, Hoskinson continues to share his view on the importance of a decentralized governance system and its efficiency over a foundation model in an open source community.
Microsoft, which has been heavily involved with Ethereum since the beginning of 2015, provided the location, meeting rooms, and ecosystem needed for Ethereum Classic to direct their meetup with Hoskinson.
The American giant’s support for Ethereum Classic and its meetups and discussions suggest that it is interested in both the decentralized governance model of Ethereum Classic and the foundation model of Ethereum.
It is optimistic for the network that a long time supporter of the technology is willing to host and sustain discussions on various stances for the long-term sustainability of the network.