“…one should never turn to one’s left when facing the nagual...”
Carlos Castaneda

Tales of Power

Cryptocurrencies are having crises of governance

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“… Cryptocurrencies are having crises of governance — Bitcoin about blocksize and other scaling strategies, Ethereum because the hard fork they made to try to save DAOhub in the midst of its crisis of having no way to authorize an update to a buggy smart contract. Plenty of other coins and systems have had their own issues along the way as well.

These problems are not incidental to the design of these systems, they are inherent.

Cryptocurrencies were designed to escape oppressive governance. Their creators have focused on optimizing personal autonomy and anonymity. The fact that we don’t know who stole $65 million from DAOhub or even who the original creator Bitcoin is, should make this fact obvious.

Why does this matter?

Any system that can’t regulate itself dies. If it can’t respond, adapt, or evolve, it’s dead.

The kind of governance we’re seeking is best thought of as a self-regulatory community. In other words, a community which has the necessary information, communication flows, and feedback loops to regulate its health and longevity.

Until people and community, along with the information flows required for that community to see its own patterns and issues are actually built into the ontology of cryptocurrencies, they won’t solve the problem of governance and collective self-regulation.”

source

also see Preparing Bitcon for a Hard Fork

 

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