Thread by @willwarren89

1) A few thoughts on governance for decentralized networks:

The network with the "best" underlying tech, but no clearly defined governance process will either (a) become outdated/irrelevant due to inability to coordinate community for upgrades...

2) ...or (b) succumb to centralized decision making in order to remain relevant, causing significant % of users to lose trust and abandon the network for an alternative.

In other words:
governance = maybe don't die

3) The social dynamics involved in a governance process (how and where discourse takes place) are just as important as the rules and thresholds that dictate the outcome.

If you can pay Cambridge Analytica $ to change how voters view an issue, then why does it matter if a...

4) ... governance process is democratic or not? $ is still equivalent to votes, just one step removed.

If a small group can censor /r/Bitcoin to shield the community from ideas they find threatening, then why does it matter that Bitcoin's underlying network is decentralized?

5) Conversely, if a small group can spam /r/Bitcoin with misleading information, leading part of the community to believe in a false narrative, then why does it matter that Bitcoin's underlying network is decentralized?

6) Whoever controls the narrative controls the outcome. Who does this for BTC? For ETH? How does one control the narrative?

To create an informed community, there need to be rigid guidelines around discourse and the venue where it takes place.

7) How does one enforce rigid guidelines around discourse?

(a) pick the right venue. @KialoHQ is the best interface for public debate I've seen so far.

(b) set and enforce clear rules and expectations.

(c) ensure participants are true stakeholders.

8) Maybe crypto projects with huge war chests don't need to think about funding today, but what happens when they run out? Whose responsibility is it to take over development of public infrastructure?

Should core developers be viewed as firefighters & police, everyone chips in?

9) Decentralized networks face the same governance challenges as nations. Nations tax citizens and inflate their currency to pay for communal services. I wouldn't be surprised to see this become standard for decentralized networks as they mature.

10) DAOs are one of the most compelling use cases for Ethereum. We shouldn't be scared of DAOs just because "the DAO" was a dumpster fire. The idea of allowing a community to allocate capital for their collective benefit is insanely interesting.

11) Taxes paid into an ecosystem fund, which is allocated by a community-run DAO could not only sustain an ecosystem, but act as a powerful growth engine. Similar to a hyper-growth tech company, but with worse execution.