What is Decentralized Governance Interaxis

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One of the most important Building Blocks of Blockchain technology will be the idea of Decentralized Governance. • This is Governance, not only of nations or municipalities, but also of companies, organizations, projects, etc. • We first need to look back at how public companies are governed. If I own a share of stock, I have the ability to vote on the Board of Directors. Those Board members, then vote on the Executive Management of the company, and the management runs the day-to-day operations of the company. • So...my 1 share does not really give me the ability to make operational or even distribution decisions. I just have the ability to place people that will hopefully push and vote for my interests. • As we moved to Bitcoin, we outsourced much of the day-to-day - the inner workings - to code. The Bitcoin code determine the size of a block, the block reward, the difficulty to mine. The developers, none of whom work for a company called Bitcoin, can talk and decide if they want to make changes to the code, including the possible impacts on the value of Bitcoin. • For example, if some decide we need larger block sizes to allow for more transactions per block. • If there is a large split among the developers, they can decide to fork the code, and create a new chain with a new Cryptocurrency - like Bitcoin Cash. • There is no governance mechanism in which their votes are registered and a change is automatically made. • Blockchains that have come after Bitcoin have taken a Governance mechanism into the code, and added the Token element. • Tezos, for example, created a system that allows token-holders to propose changes, discuss, try them, and then use their tokens to vote. If the vote passes, the code is changed, without needing a hard fork. • We have learned that protocols can be somewhat ruled by code, allowing for more disintermediation of the management. For usability, we need a way to change the code, and that process, cyclically, should also be encoded. • Decentralized Governance is going to play a huge role as we move to more distributed organizations that want a transparent way to control funds for the good of the users. • We hope you enjoy this video, and subscribe. • Fund us at: • Twitter - / interaxis8 • Web - https://www.interaxis.io/ • Email - [email protected]

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