Justin Sun’s Open Letter to the Community on TRON’s decentralization and His Personal Journey
Dear TRONics, developers, and friends who care about the development of TRON:
The TRON blockchain protocol is now essentially decentralized.
Upon its official launch on June 25, 2018, by the community, the TRON network has since undergone an incremental process of achieving autonomous governance. Henceforth, I have no doubt that the TRON network is sufficiently self-sustainable as a decentralized autonomous organization (DAO).
Having completed its historical mission of establishing a DAO for the community, the TRON Foundation has settled to dissolve itself on July 25, 2021. Furthermore, TRON Foundation’s original three nodes, “justinsuntron,” “BitTorrent,” and “µTorrent,” have officially withdrawn from TRON’s ranks of super representatives this month. Now, the entire TRON network is run by 27 super representatives hosted by the community.
This marks TRON’s entry into a new era of decentralization. Personally, as an ordinary member of the TRON protocol community, I will continue to support and encourage the development of TRON and its decentralized community. I hope that my TRON community friends will continue to work together and propel the TRON platform into an evermore prosperous, thriving ecology.
I have always aspired to be a successful entrepreneur and effective leader since my early days and cherished the prospect of building a profitable business empire that caters to the needs and satisfaction of my customers, shareholders, and employees. But instead, I stumbled into cultivating a decentralized blockchain platform: TRON. Though created by chance, TRON became one of the earliest communities of decentralized autonomous organizations (DAOs) in human history. And I never regretted my choice to build TRON ever since.
TRON protocol now routinely processes daily transaction volume over $10 billion, with total crypto assets exceeding $60 billion. But unlike centralized platforms, and despite achieving significant success and social impact, we have never curated any user data in the TRON blockchain, nor do we have any right to do so. As the whole world confronts rising social issues caused by big tech data monopolies, TRON’s success in empowering its community is uniquely significant, and we will continue to herald that change.
For the greater benefit of society, there’s nothing better than having a founder of a thriving community abdicate all power over users, assets, and data. If we can achieve something great, then we should never exploit it for the benefit of one person or group at the expense of excluding the rest of humanity. A truly inclusive financial infrastructure that belongs to all mankind should be unlimited, decentralized, and thresholdless.
In the meantime, I want to share my thoughts on the outlook of TRON and the blockchain industry in the new era. Today, the overall market value of the blockchain industry has reached $2.2 trillion. Only Apple stands out as a single commercial entity that is more valuable than the blockchain industry. But I believe that the aggregate value of blockchain will exceed that of Apple before long. It is not a matter of how but a matter of when.
Against this backdrop, the next milestone for the industry is the establishment of a more harmonized relationship with international regulatory jurisdictions. Sovereign states are the most fundamental building blocks of the world order. The due recognition of the blockchain industry by sovereign states will be the final milestone towards achieving a truely decentralized financial infrastructure.
It’s time to forge closer collaboration between the blockchain industry and international sovereign states. With this in mind, I recently accepted the invitation and appointment of the Grenada government to officially serve as the Ambassador, Permanent Representative of Grenada to the World Trade Organization in Geneva, Switzerland. In the future, I will be working in full capacity to represent Grenada’s national interests, fight for the interests of developing countries, and promote the development of the blockchain industry and digital economy to the World Trade Organization.
To elaborate, the World Trade Organization is an international organization responsible for monitoring the implementation of various trade agreements between member economies. I believe that the World Trade Organization’s recognition of blockchain technology’s value is of vital importance to our industry. As for Grenada, it is a key member of the Organization of Eastern Caribbean States. It is also a member of the Commonwealth of Nations, the United Nations, the World Trade Organization, and other multilateral organizations. Additionally, Grenada is one of the few countries that enjoy visa waiver to four permanent members of the UN Security Council.
I have no doubt that TRON has embarked on a new phase of true decentralization. As an ordinary member of the TRON community, I shall humbly await and witness TRON’s future development. I am thrilled that I have also entered a new chapter in my life. With my new position under Grenada and the World Trade Organization, I am in a better position to help promote the close collaboration between the blockchain industry and international organizations.
I believe that blockchain technology will one day become the enabler of a decentralized financial infrastructure for all people; its fruition is only a matter of time. But through our efforts, we can make this day come as soon as possible. So let us embrace the future together!