Governance: Blockchain's Most Overlooked Pillar

For TF 2 on November 9th, 2018, we were joined by Isaac Hart, a community manager at Decred, to talk about governance systems in blockchain.

Decred is an autonomous digital currency that is concerned about the governance of blockchains.

Isaac argues that:

"...governance is highly overlooked, yet remains a very important part of blockchain development and sustainability."

He made a very good example of the Bitcoin fork. He argued that the split, which mainly occurred on Twitter, was exaggerated due to lack of verified systems in blockchain to check actual opinion.

He says only 10% migrated to Bitcoin Cash which shows a majority supported the original idea.

Decred has hence built a system that takes actual data from verified sources which cannot be manipulated to help in making solid decisions in blockchain networks.

If you have a pull request on Bitcoin you must get an approval from a certain pre-determined portion of developers, miners and not forgetting, the common community and other stakeholders.

As Isaac hart quotes, the system Decred is building is open source and hence no one has the authority to say it is his or hers. The voting process is done securely and each vote must be thoroughly verified and tallied to ensure openness and accuracy in the voting process.

To learn more in-depth about governance of blockchains watch the full presentation at TF 2 below:

Be sure follow Decred on Twitter @decredproject and check out their website to learn more.

TF Blockchain (TF3) will be on March 28, 2019, in beautiful Seattle, Washington, at the top of the Columbia Tower Club.