The Fundamentals of Blockchain Governance From Thomas B. Cox

billbozbillboz Posts: 15 admin
edited January 21 in Governance

What is Governance?
Answer: Governance when defined narrowly is different from policy-making; governance is the work of carrying out policy decisions in an orderly and reliable manner.

Governance includes the methods for supporting policy makers to make policy -- e.g. creating voting methods, designing ballots, etc.

Governance when defined broadly includes policy-making as well as carrying out policy.

What Governance is Needed by a Blockchain?
A blockchain that is governed needs decisions made -- and needs mechanisms in place to support decision making -- regarding these sorts of things:

Who shall qualify as a member of the group?
Who shall be placed into positions of trust to carry out the work of the group? (example: judges, block producers, registrars, police)
How shall the group select those individuals to be placed into those positions of trust?
What powers shall the group delegate to these positions of trust?
How shall the group monitor the individuals occupying the positions of trust?
How shall members of the group resolve their differences?
How shall members of the group escalate their differences if the initial attempt to resolve them, failed?

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