Justin Sun’s recent announcement on 6th August 2018, that Raybo, a leading Chinese blockchain player will run for the position of TRON Super Representative has created ripples in the industry. According to the TRON Foundation, having Raybo as part of the team will make them more inclusive and expand their outreach.
This is significant, given the poor position of TRON (TRX) in the past 7 months, with the steady decline in the crypto bear price. To add to this, when TRON announced its main net launch, this also did not affect its declining price. It is the long-term investors that have demonstrated faith that TRON can weather the storm and come out stronger on the other side.
What does this mean?
Well, with TRON still trading at the same low it was in March this year, its double bottom trading will actually be the start of the long-term rise in the price of TRON. While some short-term investors may be skeptical, the innovations and resilience of TRON have demonstrated this pattern.
With the acquisition of bit torrent and its inclusion in the TRON digital system, more than 100 thousand users have been added to a system that now has enhanced world-class data storage and distribution capabilities, through decentralized systems. This leaves TRON as one of the larger independent blockchains, reducing the competitive edge of even the likes of Ethereum. This merger will see the powerful dapps, particularly in the entertainment industry emerge. This independent platform will rival the likes of YouTube and Facebook. As the use case rises, it is expected that the price of TRON will also increase over time.
The Leadership of Justin Sun has developed a strong team, which has so far demonstrated the achievement of every goal set out for the company. The decrease in price is attributed only to the bear cryptocurrency, and as in all financial markets, with the emergence of the bulls, the prices will rise.
Back to Raybo!!!!
The tweet from Justin Sun stated:
Raybo will run for #TRONSR. Raybo has been committed to promoting decentralized distributed clearing technology represented by Ripple in Greater China, promoting blockchain clearing technology in financial institutions such as banks. #TRON #TRX $TRX
It is said that the TRON candidacy for the TRON Super Representative is a fully democratic process aiming to ensure efficient governance of the Network. Currently there are over 63 candidates for the position. Raybo sees itself as part of the team, which will demonstrate TRON’s commitment to an inclusive and open community that is both decentralized and autonomous.
Raybo has reciprocated by stating its commitment to the promotion of the blockchain technology. As a Super Representative, Raybo will participate actively in governance of the TRON Foundation as well as act as caretakers for the larger TRON community and manage the development of the networks.
In order to increase the number of TRON and users on the Network, TRON announced a flash sale on 30 July 2018, which received a tremendous response. The TRON Foundation held its first global meeting, with all the members from Beijing, as well as San Francisco in attendance. This meeting demonstrated the growth of the TRON family from 108 members to 300 members.