EOS Alliance | Constitution Referendum Series | Summary | Week 5 | Korean/English

Recap of the Alliance open calls from Week 5, as interpreted by Martin Breuer(EOS Nation, Regional Director)

Week #5’s Korean/English Call of the EOS Alliance Constitution Referendum Series was scheduled for Wednesday, September 19 at 9:00 pm Seoul Time / 12:00 UTC.

This week, participants were asked to directly compare Constitution version #1 to Dan Larimer’s version #2.

Both versions can be found here:

Daniel Larimer’s v2 proposal: “Intent of Code is Law”

Current EOS Constitution v1

The call had 8 participants, so there was no need to go into smaller groups.

After the earlier “English Only” call dealt with article 1, 2 and 4, this group decided to start with article 5 of Dan Larimer’s Proposal.

Which goes a little something like this:

“All service providers who produce tools to facilitate the construction and signing of transactions on behalf of others shall present the full Ricardian Contract terms of this Constitution and other referenced contracts.”

The group’s findings, questions & suggestions were:

The equivalent in the current constitution v1 would be:

Article VII — Open Source

“Each Member who makes available a smart contract on this blockchain shall be a Developer. Each Developer shall offer their smart contracts via a free and open source license, and each smart contract shall be documented with a Ricardian Contract stating the intent of all parties and naming the Arbitration Forum that will resolve disputes arising from that contract.”
  • Regarding the most recent hack where a bad actor made fake EOS — his intent was clear, he stole EOS — would he be liable under Dan’s v2 of the constitution?
  • On a more general note, it was agreed that it would be necessary to have official translations for the new constitution proposals, possibly before they are put to vote.
  • Also: Contracts that are written in English and/or other languages could be different when translated.
  • Sub-documents, glossaries and 2nd Level Law (also in other languages) would be very useful to avoid misunderstandings.

The group then moved over to article 6 of Dan Larimer’s proposal:

“No Party shall have a fiduciary responsibility to support the value of the EOS token. The Parties do not authorize anyone to hold assets, borrow, speak, nor contract on behalf of EOS token holders or the blockchain collectively. This blockchain shall have no owners, managers or fiduciaries.”

The equivalent to this article in the current constitution would be:

Article V — No Fiduciary

“No Member nor EOS token holder shall have fiduciary responsibility to support the value of the EOS token. The Members do not authorize anyone to hold assets, borrow, nor contract on behalf of EOS token holders collectively. This blockchain has no owners, managers or fiduciaries; therefore, no Member shall have beneficial interest in more than 10% of the EOS token supply.”

The group’s findings, questions & suggestions were:

  • The general intent of both articles seems to be to protect Block One.
  • In Version 2 Dan got rid of the exact number of percentage whereas in Version 1 10% is clearly mentioned to be the most one entity would be allowed to own.
  • How ownership can be proven if one actor separates his tokens in multiple wallets?
  • Would bonds be a tool to hold “whales” accountable through reputation? 
    Should the voting threshold for amending the constitution be raised? Is 15% sufficient or should it be higher?
  • What would be an accurate number of circulating supply since tokens are in the EOS savings account or not claimed yet from ERC20 Tokens?

The group then started to analyze article #7 of V2 by Dan Larimer:

“A Ricardian Contract is deemed accepted when a transaction is incorporated into the blockchain.”
  • The article means that a contract only becomes valid when it’s published via transaction on the blockchain.
  • It basically means “Read the terms and conditions before you sign the terms and conditions”.

At this point the time was up and we discussed ways to improve the calls.
The main focus was on participation. 
The amount of 8 participants can and should definitely be improved.

An EOS Alliance account on Koreos or KakaoTalk would be an option to improve outreach to the Korean Community. 
Who would be responsible to set up and/or manage this account is still to be determined.

Next week’s scheduling of the Korean call then was discussed as well.
Since there’s a Korean National Holiday coming up it would be necessary to adjust the schedule accordingly.

The best way to stay up to date about upcoming calls is at https://eosalliance.io/events/list/

Thanks for reading and see you on the calls, Martin.

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