TL;DR As stated from the get-go, while Beam started the project as a for-profit venture, the long-term goal always was to pass the control to Beam holders, the first step toward such decentralization was the non-profit Beam Foundation, next stage is the BeamX DAO
The Beam Foundation uses the funds allocated to the Beam DAO Treasury to continue developing and promoting the Beam protocol and advance the broader privacy-related agenda.
The Beam Foundation is registered in Singapore as a Company Limited by Guarantee, the preferred method of writing a non-profit body in Singapore. Singapore is crypto-friendly, but also it is a truly global city, a place where East and West meet.
The Beam Foundation governs by a Board of up to seven members; the current Board, all of whom have supported Beam for a long time and have the project's best interests at heart. The four current board members are:
- Guy Corem: Professionally involved in the cryptocurrency industry since 2013, Guy co-founded and was the CEO of Spondoolies-Tech. In addition, Guy co-founded DAG Labs.
- Bo Dong: A veteran crypto trader and entrepreneur since 2016. Dong has a deep understanding of token economies and liquidity. Dong is the founder and CEO of Altonomy, a well-known liquidity provider in the cryptocurrency space.
- Ferdous Bhai: A highly-respected Bitcoin advocate, has established Canada’s largest Bitcoin OTC brokerage, YapCX, and started a high-performance cryptocurrency exchange, ChainRift. Ferdous is an acclaimed proponent of Bitcoin’s peer-to-peer decentralized permissionless governance.
- Wilke Trei: A mathematician specializing in computational discrete mathematics, Wilke is also a freelance mining software developer focusing on memory-heavy algorithms that run on GPUs.
The Board performs the Governance of the Foundation. After gauging the community's will via community calls, polls, and chats, the Board then decides by a simple majority.