New Leadership for Provenance Blockchain
In a significant move, Figure Technology Solutions has taken on a bigger role in managing the Provenance Blockchain. This change came after the community voted in favor of Figure's proposal in mid-January 2026. The company will now handle the community's directives for the Provenance Blockchain Foundation.
Figure relies heavily on the Provenance Blockchain for its digital asset products. With this new responsibility, Figure aims to boost the value and utility of HASH, the blockchain's token. This will ensure that those who help keep the blockchain running are fairly rewarded.
Michael Tannenbaum's Vision
Michael Tannenbaum, CEO of Figure, emphasized the importance of decentralization. He believes that with community support, Figure can help grow the Provenance ecosystem beyond its current reach. The new structure aims to make the blockchain more sustainable and clear in its governance, all while keeping control in the hands of HASH token holders.
New Structure and Responsibilities
Under the new setup, Figure will provide resources to support the Foundation's work. This includes:
- Developing the protocol
- Expanding the ecosystem
- Introducing a revised tokenomics model to create value through network fees
Despite these changes, the Foundation will remain independent, with decisions still requiring on-chain approval from HASH token holders.
June Ou's Excitement
June Ou, Director of the Foundation, expressed excitement about Figure's involvement. She believes it will help Provenance Blockchain become a leading public Layer 1 chain. Figure expects this move to increase awareness and utility of HASH and the Provenance Blockchain.
The company does not anticipate significant additional operating expenses from this change. With about 25% of the outstanding HASH tokens, Figure hopes the new structure will enhance the blockchain's potential.
Future Plans
Looking ahead, Figure's plans include driving third-party real-world asset (RWA) expansion. The company is optimistic about the future of the Provenance Blockchain and its role in the financial services industry.
