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Peeling the Layers of Decentralized Governance
William Mougayar
Investor, Advisor, Board Member
Author, The Business Blockchain
Founder, The Token Summit and WMX
@wmougayar
wmougayar@gmail.com
January 10 2019
Disclosures and Market Activities
• Book (10 languages)
• Token Summit
• Blogging
• WMX Blockchain Index
• Strategic Advisory
• Boards & Foundations
• Startups Investments
• ICOs participation &
Advisory
• Regulatory interactions
Decentralization is the
blockchain’s raison d’être.
© 2018 William Mougayar @wmougayar
The stone age didn’t end for a
lack of stones.
© 2018 William Mougayar @wmougayar
Nothing wrong with Central Systems, as long
as they are NOT:
© 2018 William Mougayar @wmougayar
1. Unfair
2. Corrupt
3. Untrustworthy
4. Evil
5. Abusive
6. Inefficient
7. Expensive
8. Useless
Reality:
Few centrally-run organizations
don’t have these flaws!
The Incentives to Move to
Decentralization Must Be Strong.
© 2018 William Mougayar @wmougayar
➔ Loss vs. Gain Risk Appetite
Decentralization is
an unusual beast.
© 2018 William Mougayar @wmougayar
Decentralization
On-Chain
0%
100%
100% IDEAL
?
?
© 2018 William Mougayar
@wmougayar
Reality
Decentralization Projects Are
Communities.
© 2018 William Mougayar @wmougayar
Communities Toolbox
© 2018 William Mougayar @wmougayar
✓ Strong mission
✓ Free entry
✓ Transparency
✓ Free contributors
✓ Full re-mixability
✓ Strong protocols
✓ Fair authority
✓ Non-tribalism
✓ Self-organization
✓ Tolerance
✓ Measurable success
✓ High scoring
✓ Decentralization
✓ Free workspace
✓ Smooth learning
✓ Regular structure
✓ Positivity
✓ Sense of humor
✓ Minimalism
✓ Sane funding
Source: Social Architecture by Pieter Hintjens
© 2018 William Mougayar @wmougayar
BLOCKCHAIN
Technical
Business
Legal
Social
• Implementation
• Motivation
Simultaneous
Impact is
Necessary
Decentralization is a
Defense Mechanism.
© 2018 William Mougayar @wmougayar
© 2018 William Mougayar @wmougayar
Blockchains
P2P Networks
Protocols
Dapps, Apps &
Platforms
Socio-Political
Change
Lots here
Blockchain-Based Governance Segments
Key Drivers:
• Financial Efficiencies
• Rewiring the Web
• Fixing Unfair Societies
Different Priorities … Different Governance
© 2018 William Mougayar @wmougayar
Blockchains
P2P Networks
Protocols
Dapps/Apps/Platforms
Socio-Political Change
Sybil attacks, Consensus process.
Installation, Self-incentivization, Economics.
Adoption, Ecosystem, Value.
Network Effects, Development, Support.
Inclusiveness, Fairness, Wealth Distribution.
Segment Key Considerations
Diverse Governance Stakeholders
© 2018 William Mougayar @wmougayar
• End-users
• Developers
Users
• Core
• Community
Developers
• Token holders
• Equity owners
Investors
• Active
• Passive
Regulators
• Miners
• Stakers
Nodes
• Foundations
• Founders
Organizations
• Internal
• External
Influencers
© 2018 William Mougayar @wmougayar
Blockchains
P2P Networks
Protocols
Dapps/Apps
Platforms
Socio-Political
Orders
Users
Developers
Investors
Nodes
Organizations
Influencers
Regulators
Mapping Segments to Stakeholders
Some Experimentations in
Decentralized Governance
© 2018 William Mougayar @wmougayar
❑ Liquid Democracy
❑ Quadratic Voting
❑ Futarchy
❑ Token Curated Registries
❑ Foundations
❑ Councils
❑ Associations
© 2018 William Mougayar @wmougayar
➢ Token Curated Registry
➢ Community Veto
➢ Liquid Democracy
➢ Cryptoeconomic Modeling
➢ Off-chain Voting
➢ Cross-blockchain Governance
© 2018 William Mougayar @wmougayar
➢Board
➢Community
Governance Panel
➢Helios Voting
(private,
verifiable)
© 2018 William Mougayar @wmougayar
➢ Smart contracts for on-chain governance
➢ Aragon Governance Proposal process:
➢ Community proposals
➢ Aragon Association reviews
➢ Token vote
➢ Digital jurisdiction
© 2018 William Mougayar @wmougayar
➢ Melonport AG handover to Melon Council
(Swiss Verein non-profit association)
➢ Melon Council to oversee protocol evolution
➢ Melon Technical Council appointed by MAG
(MTC)
➢ Developers apply for funding via Melon
Improvement Proposals (MIP)
➢Melon Exposed Business (MEB)
© 2018 William Mougayar @wmougayar
➢ Blockstack PBC decentralizing itself
➢ App Mining payouts based on decentralized
rankings
➢ Non-profit Foundation
➢ Independent regional entities
➢ Signature Fund
➢ Milestone-based fund unlocking
➢ Advisory Board for Token Fund
© 2018 William Mougayar @wmougayar
Are We Decentralized Yet?
© 2018 William Mougayar @wmougayar
Decentralization
Appliance
Dilemma: We are still defining
Decentralization
© 2018 William Mougayar @wmougayar
In Blockchains:
❑ How transactions are validated (double spend problem)
❑ How attacks are mitigated or eliminated (security)
❑ How rules/protocols change (evolution)
Use Governance as a Tool,
not a Weapon.
© 2018 William Mougayar @wmougayar
Governance
vs.
Governing
(not the same)
© 2018 William Mougayar @wmougayar
12 Issues and Challenges
© 2018 William Mougayar @wmougayar
❖ Token isn’t always needed
❖ In decentralization, economic incentives matter
❖ It is not just about voting
❖ Decision-making by consensus is not ideal
❖ Communities alone shouldn’t govern
❖ Beware of premature decentralization of governance
❖ When will Code = Governance?
❖ Transparency / Openness in Self-governance
❖ One size doesn’t fit all
❖ Large gap in governance UI’s (still very technical)
❖ Legal and moral aspects of unstoppable P2P networks
❖ Obsession with self-governance (DAO was not a standard)
“In decentralized systems,
problems can be solved early
and when they are small.”
-- Nassim Taleb
© 2018 William Mougayar @wmougayar
Let’s remember…
© 2018 William Mougayar @wmougayar
Computation
Protocols
Data
Content
Storage Work
Rewards
EarningSpending
Sharing
Industry
Trade
Law
Finance
Nations
Big Picture: The Blockchain Economy
Can the blockchain lead us to a
new world that is better than the
current one?
© 2018 William Mougayar @wmougayar
THANK YOU
William Mougayar
Investor, Advisor, Board Member
Author, The Business Blockchain
Founder, The Token Summit and WMX
@wmougayar
wmougayar@gmail.com
http://startupmanagement.org/blog

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Decentralized Blockchain Governance

  • 1. Peeling the Layers of Decentralized Governance William Mougayar Investor, Advisor, Board Member Author, The Business Blockchain Founder, The Token Summit and WMX @wmougayar wmougayar@gmail.com January 10 2019
  • 2. Disclosures and Market Activities • Book (10 languages) • Token Summit • Blogging • WMX Blockchain Index • Strategic Advisory • Boards & Foundations • Startups Investments • ICOs participation & Advisory • Regulatory interactions
  • 3. Decentralization is the blockchain’s raison d’être. © 2018 William Mougayar @wmougayar
  • 4. The stone age didn’t end for a lack of stones. © 2018 William Mougayar @wmougayar
  • 5. Nothing wrong with Central Systems, as long as they are NOT: © 2018 William Mougayar @wmougayar 1. Unfair 2. Corrupt 3. Untrustworthy 4. Evil 5. Abusive 6. Inefficient 7. Expensive 8. Useless Reality: Few centrally-run organizations don’t have these flaws!
  • 6. The Incentives to Move to Decentralization Must Be Strong. © 2018 William Mougayar @wmougayar ➔ Loss vs. Gain Risk Appetite
  • 7. Decentralization is an unusual beast. © 2018 William Mougayar @wmougayar
  • 8. Decentralization On-Chain 0% 100% 100% IDEAL ? ? © 2018 William Mougayar @wmougayar Reality
  • 9. Decentralization Projects Are Communities. © 2018 William Mougayar @wmougayar
  • 10. Communities Toolbox © 2018 William Mougayar @wmougayar ✓ Strong mission ✓ Free entry ✓ Transparency ✓ Free contributors ✓ Full re-mixability ✓ Strong protocols ✓ Fair authority ✓ Non-tribalism ✓ Self-organization ✓ Tolerance ✓ Measurable success ✓ High scoring ✓ Decentralization ✓ Free workspace ✓ Smooth learning ✓ Regular structure ✓ Positivity ✓ Sense of humor ✓ Minimalism ✓ Sane funding Source: Social Architecture by Pieter Hintjens
  • 11. © 2018 William Mougayar @wmougayar BLOCKCHAIN Technical Business Legal Social • Implementation • Motivation Simultaneous Impact is Necessary
  • 12. Decentralization is a Defense Mechanism. © 2018 William Mougayar @wmougayar
  • 13. © 2018 William Mougayar @wmougayar Blockchains P2P Networks Protocols Dapps, Apps & Platforms Socio-Political Change Lots here Blockchain-Based Governance Segments Key Drivers: • Financial Efficiencies • Rewiring the Web • Fixing Unfair Societies
  • 14. Different Priorities … Different Governance © 2018 William Mougayar @wmougayar Blockchains P2P Networks Protocols Dapps/Apps/Platforms Socio-Political Change Sybil attacks, Consensus process. Installation, Self-incentivization, Economics. Adoption, Ecosystem, Value. Network Effects, Development, Support. Inclusiveness, Fairness, Wealth Distribution. Segment Key Considerations
  • 15. Diverse Governance Stakeholders © 2018 William Mougayar @wmougayar • End-users • Developers Users • Core • Community Developers • Token holders • Equity owners Investors • Active • Passive Regulators • Miners • Stakers Nodes • Foundations • Founders Organizations • Internal • External Influencers
  • 16. © 2018 William Mougayar @wmougayar Blockchains P2P Networks Protocols Dapps/Apps Platforms Socio-Political Orders Users Developers Investors Nodes Organizations Influencers Regulators Mapping Segments to Stakeholders
  • 17. Some Experimentations in Decentralized Governance © 2018 William Mougayar @wmougayar ❑ Liquid Democracy ❑ Quadratic Voting ❑ Futarchy ❑ Token Curated Registries ❑ Foundations ❑ Councils ❑ Associations
  • 18. © 2018 William Mougayar @wmougayar ➢ Token Curated Registry ➢ Community Veto ➢ Liquid Democracy ➢ Cryptoeconomic Modeling ➢ Off-chain Voting ➢ Cross-blockchain Governance
  • 19. © 2018 William Mougayar @wmougayar ➢Board ➢Community Governance Panel ➢Helios Voting (private, verifiable)
  • 20. © 2018 William Mougayar @wmougayar ➢ Smart contracts for on-chain governance ➢ Aragon Governance Proposal process: ➢ Community proposals ➢ Aragon Association reviews ➢ Token vote ➢ Digital jurisdiction
  • 21. © 2018 William Mougayar @wmougayar ➢ Melonport AG handover to Melon Council (Swiss Verein non-profit association) ➢ Melon Council to oversee protocol evolution ➢ Melon Technical Council appointed by MAG (MTC) ➢ Developers apply for funding via Melon Improvement Proposals (MIP) ➢Melon Exposed Business (MEB)
  • 22. © 2018 William Mougayar @wmougayar ➢ Blockstack PBC decentralizing itself ➢ App Mining payouts based on decentralized rankings ➢ Non-profit Foundation ➢ Independent regional entities ➢ Signature Fund ➢ Milestone-based fund unlocking ➢ Advisory Board for Token Fund
  • 23. © 2018 William Mougayar @wmougayar Are We Decentralized Yet?
  • 24. © 2018 William Mougayar @wmougayar Decentralization Appliance
  • 25. Dilemma: We are still defining Decentralization © 2018 William Mougayar @wmougayar In Blockchains: ❑ How transactions are validated (double spend problem) ❑ How attacks are mitigated or eliminated (security) ❑ How rules/protocols change (evolution)
  • 26. Use Governance as a Tool, not a Weapon. © 2018 William Mougayar @wmougayar
  • 27. Governance vs. Governing (not the same) © 2018 William Mougayar @wmougayar
  • 28. 12 Issues and Challenges © 2018 William Mougayar @wmougayar ❖ Token isn’t always needed ❖ In decentralization, economic incentives matter ❖ It is not just about voting ❖ Decision-making by consensus is not ideal ❖ Communities alone shouldn’t govern ❖ Beware of premature decentralization of governance ❖ When will Code = Governance? ❖ Transparency / Openness in Self-governance ❖ One size doesn’t fit all ❖ Large gap in governance UI’s (still very technical) ❖ Legal and moral aspects of unstoppable P2P networks ❖ Obsession with self-governance (DAO was not a standard)
  • 29. “In decentralized systems, problems can be solved early and when they are small.” -- Nassim Taleb © 2018 William Mougayar @wmougayar Let’s remember…
  • 30. © 2018 William Mougayar @wmougayar Computation Protocols Data Content Storage Work Rewards EarningSpending Sharing Industry Trade Law Finance Nations Big Picture: The Blockchain Economy
  • 31. Can the blockchain lead us to a new world that is better than the current one? © 2018 William Mougayar @wmougayar
  • 32. THANK YOU William Mougayar Investor, Advisor, Board Member Author, The Business Blockchain Founder, The Token Summit and WMX @wmougayar wmougayar@gmail.com http://startupmanagement.org/blog