A truly decentralized system would decentralize authority!

Decentralized governance or the term decentralized is gaining popularity day by day due to its advantages. It is becoming popular among people day by day because it frees from third party hassles and also because it is very conscious about freedom as well as security. However, it may currently reflect the principles of the Web3 system. As an executive at the Cardano Foundation said about this, there are challenges to be faced in implementing a truly decentralized system. Recently the Cardano Summit was held in Dubai and there an executive from the Cardano Foundation discussed the benefits and challenges of decentralized governance in Web3 systems.

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The Cardano Foundation is claimed by the organization as one of the largest Layer-1 and several large blockchain projects with onchain governance, and it says it has fully implemented the model. Even at the time the foundation claimed they wanted to think of themselves as the world's largest DAO. But of course the community can choose the direction the chain takes by voting. However, implementing them requires a more centralized approach to the governance of other large blockchain networks.

Although decentralization is an important goal of blockchain networks. Decisions can be made more quickly in a centralized system. The issue of decentralization is quite important as it provides several benefits. Centralized authority is very good for speed and getting things done quickly. But one thing must be kept in mind that if a truly decentralized system is to be implemented then the authority must first be decentralized. This is what an executive of the Cardano Foundation claimed. Because if such can be implemented then surely it will give more credibility and long term sustainability to any organization or system.

Although such measures will slow it down in the short term, it will pay off in the long run and ensure that the incentives for each participant are aligned to the community's best. A challenge to decentralized governance. Because participants must be educated before implementing it. And this takes a lot of effort. And if you want to be successful, we have to have high participation in governance decisions. Organizational authorities emphasize the importance of educating voters on the decisions at hand to implement decentralized governance.