Article Summary
Movement Labs, a Web3 company and core contributor of the Movement Network, has announced the formation of Move Industries, a new organizational structure led by two employees. The transition aims to simplify the operational structure, enhance accountability, and reinforce the commitment to core technology and enhanced governance.
Original Post
Movement Labs, a Web3 company and core contributor to the Movement Network, has announced the creation of Move Industries, a subsidiary organization formed by two Movement employees. This transition focuses on enhancing governance, accountability, and technology development.
Key Changes
- Move Industries, led by CEO Torab Torabi and President/CMO Will Gaines, was established with a focus on engineering/product, community/brand, and ecosystem/business development.
- Co-Founder Rushi Manche was terminated.
- Co-Founder Cooper Scanlon is voluntarily passing leadership to Torab Torabi.
- Improved governance, including expanded board oversight and transparent decision-making processes, will be implemented.
Move Industries’ Commitment
Move Industries is dedicated to maintaining Movement’s position as a leading Move-based blockchain ecosystem. The team aims to fulfill their promises to the community by improving chain performance, increasing economic activity on-chain, and supporting projects built on the Movement Network.
Impact on the Movement Community
The new structure puts the community at the heart of every decision. Move Industries intends to return to crypto’s “radical roots” by giving financial power and opportunity back to the people.
What This Means for You
- Improved governance and decision-making processes will lead to more transparency and community involvement in the project’s future.
- A more focused organizational structure will allow for stronger development and support for the Move Network ecosystem and its builders.
- A renewed commitment to core technology, financial power, and opportunity for the people underlines Movement Industries’ dedication to the blockchain community.
Key Terms
- Move Labs: A Web3 company and core contributor to the Movement Network.
- Move Industries: A new organizational structure established by two Movement employees focused on engineering, community, and ecosystem development.
- Move-based blockchain ecosystem: A decentralized network that utilizes the Move programming language and is maintained by Movement Labs and Move Industries.
- Rushi Manche: A Co-Founder who has been terminated from Movement Labs.
- Cooper Scanlon: A Co-Founder who is voluntarily passing the torch to Torab Torabi to lead Move Industries.
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