The Ledgerium Foundation is a non-profit organisation that emerged through our partnerships from within the accounting and auditing industry, in which we came to understand the various issues and inefficiencies. These included problems in areas such as transaction management, auditing, and account reconciliation as the incredibly high volume of information being consumed by the industry created a myriad of issues including high fees, time inefficiency, and abuse. We recognised the untapped potential of distributed and decentralised ledger technologies in business and have committed ourselves to integrate blockchain technology into the financial sector.
Our mission is to promote, advance and develop the use of state-of-the-art blockchain technology. This goal has been pursued by a dedicated team of developers that aim to build a service which ensures integrity and truth behind all financial transactions. Culminating in the creation of Ledgerium, a new blockchain that builds off the successes behind Ethereum. Ledgerium utilises the protocols implemented by Quorum to allow for the creation of blockchains that features heightened privacy, security, and speed to its users. We also act as an independent body, separate from Block Ledger to allow it to maintain its neutrality and therefore immutability and transparency.
The Ledgerium Foundation also acts as an independent body, separate from Block Ledger to allow it to maintain its neutrality and therefore immutability and transparency. As such we will also hold 20% of the Block Producers, with 40% held as Community Nodes and the remaining 40% held as Enterprise Nodes. By holding 20% of total Block Producers, it ensures that there is no one entity that will hold a majority stake. Also, Ledgerium Foundation will have full access to all proprietary Ledgerium service platforms that provides identity, file service and other features.
Any block rewards received or acquired by Block Producers held by the Ledgerium Foundation will be sold with the funds used to continue the development and promotion of Ledgerium Blockchain. In addition, some of these funds may be used for educational purposes.