Concordium is taking a major step towards decentralization

Concordium is undertaking a strategic move towards further decentralization, which aligns with the broader industry movement; valuing community engagement and less centralized control. This approach is anticipated to lay a stronger foundation for scaling and is vital for attracting developers and other partners.

We believe the time for this move is right, as Concordium has proven itself as a very stable and reliable blockchain, and hence is ready for handing over more control to the community around it.

As part of the restructured operating model, the current state of adoption, market visibility, trading, liquidity, and partnerships with other projects are being addressed. Efforts will be intensified to better incentivize external projects, ambassadors, and developers to enhance participation, thus contributing to the growth, diversification, and decentralization of the ecosystem.

Concordium is taking measures that include increased investment in and incentivisation of external communities, but also cost reductions across various departments that will have less relevance within the new strategy, and, as a consequence, some layoffs. The layoffs are a strategic choice, based on the direction of the new operating model, which includes certain roles to be decentralized or outsourced. Regrettably, this means that Concordium must bid farewell to some valued and esteemed employees who have made valuable contributions to the project.

At the beginning of the new year, the management will in more detail present the new strategy both internally and to the communities.

For any inquiries, please contact Anne Korsgaard at akl@concordium.com.

EMG Group, Concordium