Early this week, the Pi Network community was little bit shaken by the disturbing development that PitoGo LLC will be closed based on the earlier announcement of its original founders. PitoGo is one of the platforms developed during the Pi Network hackathon that started early last year, expected to be among the pioneering service providers in the Pi ecosystem.
Primary reason as earlier cited was that after almost a year, “PiNetwork has still not updated the latest SDK API.” As stated, there seems to be a gray area such as whether eventually there will be a commercial wallet, among other possible business options like peer-to-peer, or peer-to-peer company transactions. Being the crucial requirement for the project to develop its business model, and platform’s payment system, of which without it, practically make the project not fully developed for commercial operation even in the immediate future. Along with the present policy and obvious transactions limitation at this stage in the enclosed mainnet.
Later on the same week, the following statement was posted in Facebook:
Considering that the PitoGo founders have fully depleted their financial resources as they resigned from their previous jobs, then invested their funds, possibly including their life savings. Most likely since the start, have focused most of their time on the project, indeed making great sacrifices to help build the Pi Network ecosystem.
Then lately this week, made the crucial decision to exit from the project, for them perhaps to focus on their physical survival needs. Most likely find jobs, as their expected income from PitoGo operation did not materialize on time.
What we can only hope for now is that the PitoGo case will be the first and the last. Pi Network Core Team at this stage should be on full throttle to encourage and support developers working on their respective projects.
After all, the success of Pi Network will be partly dependent on how diversified and comprehensive the Pi ecosystem will be. So that losing even just one potential player in the ecosystem, will be a great loss at this stage.
Credits to CryptoDrive
