Michael Stevens Chooses Electroneum as Payment method for $50 Million Fundraising Campaign

Michael Parsons Resigns — The Next Step for Cardano On November 13, 2018, the Cardano Foundation announced via a press release, the resignation of the Michael Parsons, Chairman of the Foundation Council of the Cardano Foundation. He acted in response to the petition signed by members of the cardano community in early October, calling for his resign. Parsons was replaced with immediate effect on an interim basis by another member of Council, Pascal Schmid. This leadership change in the Cardano Foundation was foreseen, as an internal rift was taking place in the organization for a while. The CEO of IOHK, Charles Hoskinson, has not hidden his dissatisfaction of the occurrence in the Cardano Foundation. Hoskinson has a lot of influence in the Cardano community, as he is one of the masterminds behind Ethereum and Cardano. He has noted previously the lack of vision, proper fund allocation, transparency, and financial accountability as major problems in Cardano. Michael Parsons, was said to have paralyzed the project because of his dictatorship in the Cardano community. This was perhaps the propelling force behind Parsons’ resignation as Chairman of the Cardano Foundation. The news of Parson's resignation is a victory for the Cardano community according to Hoskinson and he likened the event to the end of an era of captivity. What’s Next for the Cardano Foundation? Hoskinson says that the Cardano Foundation has to spend the next few months for clean-up, restructuring and rebuilding itself. With Parson's exit, he believes the Foundation can restore its credibility, trust, and faith with the community. He expects a more democratic foundation, more variety in the board, and suggests about 7 board members. He also advised that the Foundation should invest in its Swiss jurisdiction, cooperate with regulators while operating as a viable entity inside the ecosystem. He also mentioned that IOHK will keep working with the Cardano Foundation to move Cardano forward. Despite having internal squabbles, Cardano has witnessed tangible progress recently, which includes Trezor wallet stating their official support for the ADA cryptocurrency and Project Icarus passing the security audit. Q1 2019 is expected to bring developmental achievement for Cardano, as the project will progress without the restraints of the previous leadership and management. This change in Cardano proves democracy's power over authoritarian governance structure in the blockchain industry. It is important that democratic, transparent governance structures are established in the crypto industry, as those ideals of decentralization will differentiate it from the traditional fiat system.

Developed as a mobile cryptocurrency and aimed at the global payments markets, Electroneum becomes a mode of payment for Charity fundraising campaign for the eradication of gun violence in America.

Renowned American educator, Michael Stevens, has picked out Electroneum (ETN) as a payment method for raising $50 million for the Andrew Pollack’s charity Americans for C.LA.S.S (Children’s Lives and School Safety) campaign. In light of the recent school shootings in the US,the campaign is aimed at eradicating the risks of gun violence by implementing an eight-point safety plan in schools all across the United States. The use of Electroneum (ETN) for payment was brought to focus by Michael Stevens. Also the author of the children book series “ELLEN MELON” which has its line of side-products, Michael Stevens indicated that the cryptocurrency can be used to purchase any of these Ellen Melon products. He stated that all proceeds gotten from the book and products sale will be donated to the charity campaign.
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Electroneum to the Rescue

Commenting on the reason for choosing a cryptocurrency for payment, Michael Stevens explained that he was impressed by the Electroneum community and after due feasibility studies on the world of cryptocurrencies, believed that the ETN community would help with his cause.
“[…]I became fascinated with the crypto world and the positive impact it could have on people’s lives, particularly in third world countries. I watched hundreds of hours of YouTube video, read countless white papers and investigated the teams attached to each project.” He said.

“In the end, I was especially impressed by the Electroneum community and I believe they will make a real contribution to this campaign and the work C.L.A.S.S is doing […]” he added.

The Electroneum project was created and is especially focused on mobility and mass movement. Integrated with an instant payment system, it was aimed at rejuvenating the purpose for the creation of cryptocurrencies. As such, the Electroneum system processes payment faster and free.

Electroneum Takes One Step Towards Mass Adoption

As established before, Electroneum is aimed at mass adoption and with Michael Stevens turning to Electroneum for a charity fundraising that would call for consensus,the coin appears to have moved a step closer to its goal. Richard Ells, Founder of Electroneum, commented about the development after empathizing with the reason behind the fundraising campaign.
“[…]thrilled that our currency is being used as a means of raising funds, alongside traditional currencies and PayPal.”
Being a mobile cryptocurrency, having a legitimate stand with regulators via its KYC compliance and plans of a Virtual Currency Exchange in the works makes it a prime target for mass adoption. It is hoped by the Electroneum community that this precedes massive adoption and more bullish turns for the cryptocurrency.