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Pi is a genuine effort by a team of Stanford graduates to give everyday people greater access to cryptocurrency. Pi’s core team is led by a team of early innovators in blockchain and social computing, with PhDs from Stanford University. No one can guarantee that the project will succeed. However, the Core Team is committed to working their hardest along with all Pioneers to make our shared dreams a reality, while maintaining the highest standards of integrity. You can learn more about the “Core Team” on the Team page on the website.

Pi’s utility will be backed by the time, attention, goods, and services offered by other members of the network in exchange for Pi. By pooling our attention, goods and services around a common currency, Pi’s members are building the network together. Because this is a network supported by blockchain technology, the network can help its members reduce their costs and prevent slippage that typically goes to banks, technology giants (e.g., Facebook, Amazon) and other intermediaries. Today, we are laying the infrastructure for this digital currency and for a utilities-driven app ecosystem by distributing the currency, building the community, developing the technology to ensure its security and designing new types of online social experience.

Pi Network is building a peer-to-peer ecosystem including marketplaces where our members will be able to directly spend Pi to buy goods and services. Once Pioneers are able to pass KYC verification and migrate their mobile Pi balance to Mainnet, this option will be available. When Pi apps transition from Testnet to Mainnet, this option will be scaled and diversified across the ecosystem. Pi Mainnet Enclosed Period restricts the use of Pi to such scenarios in the enclosed environment where the Mainnet blockchain is guarded by a firewall that prevents any external connectivities. Refer to the whitepaper draft here for the reasoning and importance of the Enclosed Network period.