Meltem Demirors Joins Stacks Foundation Board: Report

Meltem Demirors joins the Stacks Foundation Board, which is a nonprofit organization that promotes the development of the Stacks network. This move was in the works for a year now but it finally happened so let’s see what it means for the Coinshares CSO in our latest cryptocurrency news.

She is a chief strategy officer at CoinShares and also an advisor on plenty of projects like Shyft Network and Casa but now she will be joining the Stacks Foundation board. Meltem Demirors joins the board of Stacks Foundation, formerly known as Blcokstack, the network designed to bring new types of decentralized applications and smart contracts. As the website put it, “Stacks unleashes Bitcoin’s full potential as a programmable base layer.” She commented on the idea of digital gold:

“Gold is a shiny rock. Bitcoin is not a rock. It’s not a f—ing rock. There’s a lot of work to be done on the narrative around Bitcoin. I think this narrative of, ‘Oh, Bitcoin is never changing and not innovative but it’s stable, and Ethereum is really innovative or other protocols are really innovative’—we need to kill that narrative. And Stacks is going to help us do that.”

With her new role as a board member, she will be joining board members Zavain Dar and Rodolfo Gonzales who is the CEO of CoinShares and will “help devise and implement a strategy for enabling developers to build smart contracts, decentralized apps and NFTs within Bitcoin’s ecosystem via a shared connection with the Stack blockchain.” Demirors continued:

 “Obviously, we’ve seen a lot of Bitcoin move onto Ethereum in the form of Wrapped Bitcoin, whether that’s done in a custodial manner or a noncustodial manner. What we haven’t really seen a lot of to try to bring Ethereum’s functionality and simplicity in programming to Bitcoin.”

Demirors and the Stacks Foundation have a lot of work ahead of them. Blockstack PBC or as it is now called Hiro, granted 100 million STX tokens to the foundation last year and at that time, BlockStack’s initial coin offering in 2019 had the tokens worth $23 million. Demirors said that creating a 10-20 year plan will be the main priority which will involve diversifying out of Stacks and trying to earn a yield on the Stacks:

 “Longevity and sustainability is something that’s been problematic for foundations and treasuries in the past. We’re really just stewards bringing our expertise and our insights to the foundation, but really the foundation serves the broader community.”