a16z Executive: The blockchain foundation model is outdated and should shift to a development company model.

According to a message from Deep Tide TechFlow on June 5, reported by The Defiant, a16z crypto policy head and general counsel Miles Jennings stated in a recent blog post that the blockchain foundation model is outdated and should be eliminated.

Jennings believes that non-profit organizations and foundations that once supported major blockchain projects such as Ethereum, Solana, and Sui now "create more friction than decentralization." He points out four major flaws of the foundations: lack of accountability, legal and economic constraints, operational inefficiency, and the evolution into centralized gatekeepers.

As an alternative, Jennings suggested adopting the "ordinary development company" model, believing that they can deploy funds more effectively, attract top talent, and respond to market forces. He proposed several tools to address the issue of misalignment between company and network interests, including public benefit corporation structures, revenue sharing agreements, and milestone-based token lockup plans.