EMURGO is pleased to officially announce that EMURGO’s Head of R&D and smart contract developer Robert Kornacki has been appointed as a new board member of the Ergo Foundation -  a community-driven entity focused on promoting the widespread adoption of the Ergo Platform blockchain protocol and a decentralized financial infrastructure. More details are provided below.

As a board member of the Ergo Foundation, Kornacki will have full voting privileges on all future Ergo Foundation decisions as well as its Development Fund directives. This board appointment serves to further strengthen EMURGO’s recently announced partnership with Ergo - a proof-of-work blockchain protocol built to be an efficient and secure financial contracts platform with its UTXO-based smart contracts - and strategically positions EMURGO at the forefront of development of this emerging industry area of UTXO-based smart contracts that is being worked on by Cardano and Ergo.

The scope of the original aforementioned partnership covers the joint exploration of stablecoin R&D and the provision of decentralized financial services applications, by leveraging each entity’s respective expertise in Cardano’s technical structures and privacy with UTXO-based smart contracts. To the benefit of the Cardano community, as of today, the EMURGO-Ergo joint partnership has resulted in technical specification releases that can be found here.

The partnership also covers the full integration and support of Ergo’s native blockchain token (ERG) into EMURGO’s Yoroi Wallet as the first cryptocurrency to be integrated into Yoroi after Cardano ADA. This is one of the first steps undertaken as Yoroi Wallet consistently evolves into a full gateway to process various decentralized application requests and also enable the smooth transfer between token types that are issued on Cardano’s blockchain and ADA.

This appointment as a new Ergo Foundation board member coupled with the Shelley upgrade, and the continual development of UTXO-based smart contracts through the existing partnership, also provides the synergy to meet the increasing surge in global demand for decentralized financial solutions (DeFi).

Please follow EMURGO on Twitter @emurgo_io to keep up-to-date on the latest developments.