Decred X / Part VI - Triune of Trust
One of society’s greatest perils for more than the past century is the belief that the State can plan an economy better than the market.
In the Western world, specifically North America, there is the embattlement of political schools of ruling thought. One camp will say that it is best if the Fountainhead, that of the Nation State, decides universally what governance is best for all of its residing states or jurisdictions that comprise it. Another camp will say that the decisions should be left to the deciding states or smaller jurisdictions theirselves, with each represented state ennacting rules and ethics for what best serves its inhabitants. The last camp will say that each individual decides for himself what best he/she is governed by, less it not bring any ill harm or impede on that of others.
Each school of thought is tied to a like beliefset of how much sovereign power is given to each entity: (A) The centralized Nation State, (B) the smaller governing jurisdictions, and(C) the sole individual .
And with each beliefset comes a certain measure of trust upon where that sovereign power lies. This is a ever changing catechism that has existed throughout the modern role of governance and humanity.
First there were monarchies. They were the ruling governance.
Then came democracies. An evolution in governance.
Then came corporations, with powers that superseded even some nation states.
All eventually soured due to a mixture of unsound governance distributions paired with the sequential arrival of evolved governance information.
The achilles heel of governance throughout the history of humanity is its susceptibility to politics. In its clearest definition, ‘politics’ is simply the art and science of centralized coercion. Pair this with the sometimes underlying malevolent nature that power and authority can bring out in human nature, and peoples perception of not only political government, but of ‘governance’ in general , can be less than optimistic.
“In its clearest definition, ‘politics’ is simply the art and science of centralized coercion.”
With this as our discoloured palette, we find ourselves in inchoate rumblings attempting to birth a more functional and trust worthy operative system; one who’s command and direct polity is decentralized and warranted for the trust of others.
Blockchains are not the answer. Just as in the physical world, ‘chains’ can just as easily enslave as they can secure. Our liberating answers lie more so in DAOs than they do in protocols that can be responsively inclined to becoming oppressive private databases. If blockchain governance operates in such a method that it continues to give imminent and impending power to the State, to conglomerates, or to a hub group of individuals then we really have not evolved from our current world operative system. Decentralization is the key.
As we head into an uncertain future, one in which all methodologies of modern day society continue to get unsettling discomposed, the decision making of the Defining Powers vs that of the lone individual will be an intensified focal point of what defines our reality, especially in financial terms.
The ascent of money is the ascent of power, whether driven by kings, monarchs, political state heads, oligarchy, and now the citizen individual. The ability to print money is the ability to print power. He who has the ability to control money and its flow thus has the ability to control the world. Up until the advent of Bitcoin, this power has been wholly held by larger governing forces. Bitcoin changed this, and Decred is evolving the game theory found there in.
“Just as in the physical world, ‘chains’ can just as easily enslave as they can secure.”
While the current market sphere is seemingly lasered in on current moving prices, trends, current developments, and arising technology within crypto, we need to adhere that the largest endowment and driving force of cryptocurrency is threefold:
- It gives the virtue of printing money back to the people .
- It gives the the virtue of distributing money back to the people.
- It allows both of these to be accomplished through decentralization.
Crypto takes these maximizing advantages that have only belonged to kings and the ruling mob at the top and places it back into the hands of the people. Decred , as a light bearer, goes one step further and gives those same people a tri-fold governance model baked into it. You can print and distribute your own money decentrally , and you can also govern it too.
Decred’s Triune Governance
People usually fail to see the future because it will usually challenge their position and perception of power. Decred takes this power and distributes it across the board to three separate functioning bodies: miners, stakers , and the treasury.
When we see the current ticker price for Decred, we are looking at more than merely a price tag juxtaposed with a current fiat or bitcoin price. We are literally looking at the current priced version of power, stature, voice, worth and soveriegnty all rolled into one amount staring at us from the screen. That is what Decred applicably truly represents and in its governance model it gives 60% of power, stature, voice, and worth to miners, 30% to stakers and ticket holders, and puts 10% aside for self funding purposes.
It is a triune of trust , decentralized to the core. The catechism of entrustment that has lied in question throughout history is defined, with anyone partaking in Decred’s economy signing off on it.
The DAO of the future is the one who’s governance model is scalable , that acts as a decentralized aqueduct to flow its money , stature, and worth into other businesses , projects, and entities that may be formulating in its network. The forward thinking devs of Decred had the hindsight to create this as an essential component of it’s protocol from its initial design. It is already baked in, ready to serve upon its demand.
The next 10, 30 , 50, even 100 years of blockchain deployment are going to be permeated with many unforeseen changes I honestly do not think the majority of us expect to occur. But they will. That is the nature of life; it is a chaos we only attempt to control.
But sound code = sound governance. Sound governance helps to mitigate chaos. When it is backed by trust it does so even more so.
Disclaimer: The preceding is not intended as investment advice but rather blockchain philosophy and monetary theory.
This article is open source, uncopyrighted, free to use for public domain as anyone may see fit. Attribution, although appreciated, is not required
