Building a “Liquid Democracy” Society on Blockchain — 101 Guide
Imagine.. you can build your own democratic society.
What would it look like?
Would it be majority telling the minority what to do, like the current society?
Or would it be a “Liquid Democracy”?
Simply put, a Liquid Democracy is a more flexible delegative democracy. Instead of voting the candidate you want, you just say which voter you trust to handle this decision for you. Your voting weight is delegated to them and they can in turn delegate it to another voter they trust and so on. The end result should be that the most voted account is one that has trust connections to the largest amount of voters.
This solves the problem that people need to be constantly active, informed and attentive.
As crazy as it sounds, you can build your own democracy today, on Blockchain.
This is possible through something called DAO, or Decentralized Autonomous Organization, on Ethereum. DAO allows you to build a decentralized and democratic organization.
How does this Democracy Society work?
- It has an Owner which works like a CEO. The Owner is very powerful. It can add (or remove) voting members to the organization. Remember, the funds on this contract are only as safe as the the “owner” account.
- Any member can make a proposal. On Ethereum, this is to either send Ether, any Ethereum-based token, or execute some contract.
- Other members can vote in support or against the proposal.
- Once a predetermined amount of time and a certain number of members has voted, the proposal can be executed: the contract counts the votes and if there are enough votes, it will execute the given transaction.
Inviting others to join your Democracy Society:
You need 2 things.
- contract address — Click copy address on the Ethereum Wallet
- interface file — a small text string that works as an instruction manual of the contract — Click show interface on the Ethereum Wallet
- Try code this Democracy Society yourself! Click here for a copy of the sample code. Copy this onto the Ethereum Wallet.
- Some variables you can change:
Minimum quorum for proposals is the minimum amount of votes a proposal needs to have before it can be executed.
Minutes for debate is the minimum amount of time (in minutes) that needs to pass before it can be executed
Margin of votes for majority A proposal passes if there are more than X% of the votes. Leave at 0 for simple majority.
*The above content is my summary notes. A more detailed explanation can be found at https://ethereum.org/dao.