One of the biggest premises of Blockchain and Crypto is the decentralization of data via the distributed ledger.
But is the dream of Decentralized governance something we should strive for as well? In my opinion, no we shouldn't. Companies such as these in the crypto space need leadership. They need a strong presence at the top to drive action and change.
The EOS failure to launch last week was a prime example of this. I fully understand the idea behind Block.One standing back and saying it was up to the community to agree to launch, but it resulted in fear and doubt in the platform as the community couldn't decide. If Block.One had a process in place to oversee this and take back control then the system would have been launched a lot earlier and a lot more confidence would have stay with the platform.
This seems to be the case with Steemit. Obviously I don't know the inner mechanics of the Steemit Inc office, but it would appear that Ned is in charge and can drive change. He is the figure head, everyone knows that he's the man to facilitate change.
Obviously Ned and STINC are air gaped from becoming a dictatorship by the witnesses (in theory). If a bad change is proposed, or something counter-intuitive to the ecosystem is suggested the Witnesses can decide not to agree to run the change.
In reality STINC holds enough SP that it can just change the witnesses to a set that WILL run the changes, but the theory is sound.
No system of governance is perfect. True decentralization just leads to chaos, democracy leads to chaos, dictators lead to chaos. All in all, chaos is guaranteed to follow any system of governance.
I don't think it'd be effective - it could work to a certain extent but we always need some centralization
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Upvoted and resteem
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Nope it won't!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
To the question in your title, my Magic 8-Ball says:
Hi! I'm a bot, and this answer was posted automatically. Check this post out for more information.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The whole EOS situation is a bit of a shit show, to be honest.
After the whole constitution debacle, downplaying the serious $10k bugs (some paid out as early as two days ago) the centralisation of a block producers, the fact block producers can vote to print more EOS tokens out of thin air and hold up the launch of the network doesn't inspire confidence in what they're building over there sadly.
I have yet to see EOS prove my concerns about the project wrong.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I wouldn't write off a decentralised system based off the attempts crypto has made. They are primative at best. Making distributed power function I believe is possible and benifical. Although I don't know exactly how it would work. I'd probably start by separating financial interest from function. There is plenty of people out to make money and couldn't careless if eos fails to work in the long run.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This is a question that is (as you know) at the forefront of my mind lately. Here was me worrying about how democratic DAC’s on EOS are going to work. But EOS has make it off the ground first.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
STOPDownvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit