Who is behind Pi Network?
Pi Network probably sounds familiar, right? Digital coins that are supposedly free; you only need a few clicks on your phone to get them.
But there is one important question: is this really such a digital treasure? Or is it just a pipe dream?
Who clicks on the lightning bolt every day? Millions of people; perhaps you are one of them.
But on the other hand, many also say that this is a hallucinatory project without a clear basis. Let’s take a closer look at the facts, not just the rumors.
Pi Network founder a Stanford graduate
Who is behind Pi Network? It turns out that this is not a cheap project. It comes from one of the best universities in the world, Stanford.
The brains behind it are not ordinary or anonymous individuals. Among them are Dr. Nicholas Kokalis and Dr. Cheng Diovan, both PhDs from Stanford.
This is crucial, because it means their academic reputation is heavily at stake. This is different from other crypto projects where the founders are vague.
This isn’t just about creating a coin to get rich quick, right? The founders want to build a Web 3 platform where the primary capital is us, the people.
Our identity, our social trust, no longer revolves around who has the most powerful computer. In essence, they want to give the power of the internet back to us, the users.
Pi is different from Bitcoin
And what about the technology? Well, that is where Pi is truly different. Forget the energy-guzzling way Bitcoin is mined. Pi uses a much smarter and more efficient method.
Just look at the comparison. Bitcoin uses proof of work, which requires exorbitantly expensive machines and sky-high energy bills. Pi uses the Stellar Consensus Protocol.
This means you can simply use your phone in your pocket. No large capital needed, no energy consumption. Moreover, transactions are incredibly fast; they take only 3-5 seconds. This is the revolution; everyone can participate. If you don’t use advanced machines, how do you secure the network? That is a question that has always been asked. The genius of the founders of the Pi Network lies in the concept of a security loop.
Simply put: you invite friends you trust, and your friends invite their friends. This network of trust between people acts as a digital guardian. This way, the system knows that we are real people, not bots.
Pi is about to become a gigantic digital ecosystem
But wait, this is not just any project. The founders of Pi have very ambitious plans for 2026. Pi is preparing to transform from a simple coin into a gigantic digital ecosystem.
Pi’s upgrade schedule is quite full. There are protocols 20, 21, 22, and 23. The goal is simple: to activate smart contracts. These form the brain of the network and will be a real game changer.
What exactly are smart contracts for? Pi will not be just a coin for transactions. Decentralized applications, DApps, games, NFT marketplaces—everything—can be built on the Pi network.
This is what will ultimately generate real value and value for the Pi coin.
Every hero story has a villain. Now that we have seen all the golden potential, it is time to discover the dark side, the hidden threats that can throw everything into disarray.
Take this news into consideration. 100 billion coins will be put into circulation. The basic law of economics is simple: the greater the supply, the harder it is for the price to rise.
This is the biggest risk for the Pi network. It is true that approximately 80% of the 100 billion coins are supposedly intended for the community, but 20% is still in the hands of the core team. That is an enormous amount, 20 billion coins. This can raise questions about how truly decentralized this project is.
Of those 100 billion coins, only a fraction is currently in circulation. There are still tens of billions of coins locked up that can be gradually brought to market.
Imagine if the tap were to open; a tsunami of coins could ensue, causing the price to plummet if demand is not high enough.
The most important question for us in Indonesia is: is Pi Network legal? Is it allowed to be officially traded here or not?
It is important to know that as of January 2025, the supervision of crypto in Indonesia will be in the hands of a different agency. It is no longer in the hands of Bappebti, but of the Financial Services Authority (OJK).
This means that regulations will become much stricter. So, is Pi legal or not? The answer is unclear. To be able to officially trade Pi on local exchanges such as Indodax or Tokocrypto, it must pass the OJK selection procedure and be placed on the whitelist of approved crypto assets. ***tok
