– TIMESTAMPS –
2:22 Power Of Community Governance
4:47 Off-Chain Governance
8:02 On-Chain Governance
12:07 How DAOs Can Replace Governments
15:42 DAOs And Decentralized Identity
💪The Power Of Community Governance💪
About 100 years ago, it was popular for communities in some western countries to form fraternal or ‘friendly’ societies to collectively fund their own healthcare. A single day’s wage could cover a year’s worth of basic medical care. Unfortunately, these societies disappeared due to government regulations
Off-chain governance is common among proof of work cryptocurrencies such as Bitcoin, Litecoin, Monero, and also Ethereum for the time being.
One off-chain governance process some of you are familiar with are improvement proposals posted by crypto community members on GitHub for everyone to see and discuss
If you want to make a big change to a proof of work cryptocurrency like Bitcoin, the economic majority must be in favor of the change. This includes Bitcoin miners, Bitcoin developers, and also BTC holders
On-chain governance is common among proof of stake cryptocurrencies such as Polkadot, Solana, Terra, and eventually Ethereum after 2.0 rolls around
That said, on-chain governance is not limited to cryptocurrencies. On-chain governance is frequently leveraged by decentralized applications, especially DeFi protocols
Smart contracts which define and enforce the requirements for tabling, passing, and rejecting proposed improvements. Some of these set ups can be extremely elaborate as they are entirely on-chain
👨💻How DAOs Can Replace Governments👨💻
According to Ethereum founder Vitalik Buterin, the main thing that’s missing from cryptocurrency governance structures is a mechanism for properly funding public goods
Public goods are the things that governments are supposed to provide. This includes stuff like roads, bridges, police, firefighters, military, elections, regulations and various administrative practices
One solution is quadratic funding which is based on the idea that if multiple people are allocating money to a particular thing, that thing is worth more than the sum of the money being poured into it
🆔DAOs And Decentralized Identity🆔
Rather than entrust the user verification mechanism to a centralized party, we can use decentralized identity solutions instead
Though there are many cryptocurrency projects currently working on this, they all work in more or less the same way, and that’s to have someone else using the app or dApp verify your identity
This can be something as simple as meeting up in person or having a video call online, and many of these decentralized identity solutions don’t even require any form of ID.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#Crypto #Ethereum #governance #DAO #blockchain #Voting
Schemes and Plans for Functioning of Dholera City
Dholera is really a growing town within Ahmedabad. They have gained significance a short while ago because of the Dholera Special Region (Dholera SIR). It’s a self-governed economical location enjoying total assistance in the federal government and contains potential for personal segment contribution.
Commodity Trading Under the Guidance of a Broker
Day traders especially those who are still new can benefit from the guidance of commodities brokers. Experts may be able to help starters in making their plans based on the goals that they would like to achieve. It is necessary that new traders work on attainable objectives when dealing with commodity futures. They also have to determine the extent of their knowledge about the way the market behaves. Commodities brokers can help as many of them specialize in precious metals, foreign currencies, treasury bonds, agricultural products, energy sources, stock indices and also futures options.
The Basics of Options and Futures
Traders who would like to lessen the risks that they are taking usually diversify their investments. Instead of putting it all into stocks or bonds, they consider options and futures. They are able to speculate on the prices of various goods and securities which may provide them with profit even without actually acquiring ownership. Those who buy futures contracts only agree to buy a specified volume of the commodity at an agreed price and at an agreed date in the future. They do not have to deliver the goods physically but they can trade it with others in order for them to earn profit from the original price that they have paid for.
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