BlockChain ‘Governance’

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Blockchain Governance

Thursday 3H

Convener: Dave Shephard

Notes-taker(s): Guy Onename

Tags for the session - technology discussed/ideas considered:

Discussion notes, key understandings, outstanding questions, observations, and, if appropriate to this discussion: action items, next steps:

Magic internet governance

———>  Voting               |—>  Anonymity

———>  Consensus     |—>  Pseudonymity

Auditing

Blockchain 

1. Immutable system of record

2. Ordered 

3. Consensus mechanisms

4. Permissionless

Bad actors make system anti-fragile

Decentralized/authority-less

What is the overall cost for maintaining the bitcoin blockchain?

[Christoper Allan]

  • There is a transaction fee

[whiteboard]

Amount of bitcoin miners receive is;

———————

                            :arrow_lower_right:

          25BTC  (12.5BTC in 2016)             

which gets cut in half every 4 years

  • Bitcoin value is not going up which is causing a problem

[Dave Shepard] 

If you want blockchain based governance systems. You get transparency and no humans can mess around with it.

[whitebaord]

  • Transparency

——> Automated

[Christopher Allan]

Permissionless blockchains - systems are baked in to the system such as Ethereum

Permissioned blockchains - relying on the miners/consensus mechanism

There are hybrid model Permissioned and Permissionless blockchains

Sidechained blockchains are tied to Permissioned blockchains

Sidechains are pegged at a certain price and will always be the same

Can you change parameters of a blockchain?

Lightcoin is the second largest blockchain

Proof of stake

  • Stellar

--- Governance

--- Proof of stake

— Proven

[Jude Nelson]

Permissionless is set at a extremely high price

[Kaliya]

Let’s not forget about governance out side of the technology

[Dave Shepard]

[whiteboard]

space ——> voting/consensus

Turkey has created a taxi system that uses voting system for the union. Bitcoin could be used for something like that.

Ordering is necessary to achieve consensus

  • blockchain has to be solve the ordering problem then the consensus problem

[Christopher Allan]

Don’t need to have perfect consensus

Voting on the blockchain might be too soon

  • Too difficult due to algorithm faults

Bitcoin is a public ledger. You can see the transaction but not the person doing the transaction (unless you’re a very large state actor). Hashes are used once per transaction.

UREA was making currency for governance

Paxos has been proven correct. [Jude Nelson] there’s a paper on it.

[Christopher Allan]

I believe there is not a proven governance model for all blockchains

  • There’s a huge risk to the community if there is a “hard fork”
  • They do not like federated systems
  • It reminds me about Kaliya’s complaint which is why white male’s version of identity. Blockchain Identity has a lot to offer to this community.

[Mehdi - Oauth]

Augur uses crowd bets to produce predictions of war for example.

[Christopher Allan]

  • There are various versions of consensus - 100% consensus, consensus +1, etc.
  • If we can get a large sufficient group of people to vote, we can use that to get a better voting system

lifewithalacrity - Christopher Allan’s Blog (edited)