TL;DR
- Shytoshi Kusama and Kaal Dhairya emphasized that the strength of Shiba Inu lies in its community, not individual leaders, maintaining anonymity to uphold this principle.
- The developers plan to hand over control to the community by the end of 2024 to enhance decentralization.
‘Let The Mask Remain Famous’
Shiba Inu (SHIB) – the second-largest meme coin – saw the light of day four years ago. It was launched by an anonymous person or group of people using the pseudonym “Ryoshi.” While SHIB was created as an experiment in decentralized community building, currently it is one of the most trending cryptocurrencies and among the top 20 biggest with a market capitalization of over $8 billion.
In the following years, “Ryoshi” gradually stepped back, passing the leadership to another anonymous developer using the nickname Shytoshi Kusama.
Earlier this week, Kusama took part in an interview, wearing a mask and having their voice modulated. The developer said they don’t have the goal to reveal their face, claiming that the power of Shiba Inu is based on its devoted community and not on just a few individuals:
“There’s no need for my face to become a public figure. Let the mask remain famous. The power of SHIB is not because of me or because of Kaal, it is because of the community. And that is what is most important: the technology to take Web 2 to Web 3 and the brand of a very special dog breed that has gone viral many times as a meme.”
Kaal Dhairya – another enigmatic leader behind Shiba Inu – also participated in the interview. They claimed that the anonymity is the best way to blend with the community and get their “true, honest feedback.”
More Power to the Community
The developers also announced that they will hand control over to the community and step away at the end of 2024.
According to Kusama, the move aligns with their vision for true decentralization in the cryptocurrency space. The development is not about abandoning the project but rather “empowering the community even more than they already have.”
While Shiba Inu is decentralized in its governance and ecosystem, the degree of decentralization can vary depending on how actively the community participates in development processes. If a large portion of the SHIB Army (a term used to collectively describe all Shiba Inu investors, proponents, and traders) is passive, decision-making could become concentrated among a smaller group of engaging participants.
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