ODIN Society Laying the Foundation for the Next Generation of Developers
This post was originally published by Christopher Reeder [nondescript | ODIN] on July 25, 2019, and can be found here.
Definitions
Workers Cooperative — A worker cooperative is a values-driven business that puts worker and community benefit at the core of its purpose. The two central characteristics of worker cooperatives are:
- workers own the business and they participate in its financial success on the basis of their labor contribution to the cooperative
- workers have representation on and vote for the board of directors, adhering to the principle of one worker, one vote (institute.coop)
Open Source — pertaining to or denoting software whose source code is available free of charge to the public to use, copy, modify, sublicense, or distribute. (Dictionary.com)
Liquidity — Liquidity describes the degree to which an asset or security can be quickly bought or sold in the market at a price reflecting its intrinsic value. In other words: the ease of converting it to cash. (Investopia)
Solvency — Solvency is the ability of a company to meet its long-term debts and financial obligations. Solvency is essential to staying in business as it demonstrates a company’s ability to continue operations into the foreseeable future. While a company also needs liquidity to thrive and pay off its short-term obligations, such short-term liquidity should not be confused with solvency. A company that is insolvent will often enter bankruptcy. (Investopia)
The Benefits of a Workers Cooperative
ODIN Society, a bonafide workers cooperative allows for the easy integration and on-boarding of human assets. We have created a network of individuals committed to the development of ODIN Blockchain and ODIN’s community network. The most tangible example of this was the formation of the ODIN Society. A group of nine individuals with a diverse background and unique experience from all over the world set on improving the everyday lives of the average person with Blockchain-based technology and solutions and through ongoing philanthropic endeavors.
Benefits of working with ODIN’s co-op — or any co-op for that matter.
- Governance
When implementing a community-driven governance model, the strength of the community has until this point been reliant on the altruistic values of those same members governing the community. ODIN Blockchain and similar trustless systems have eliminated this reliance. ODIN Society currently has nine vote holding members, each of which carries equal voting power. - Ownership is Decentralized
As mentioned above in ‘definitions,’ “workers own the business, and they participate in its financial success based on their labor contribution to the cooperative.” This distribution allows for built-in incentivization of the co-op members to do their part in advancing the project.
Open Sourcing the Code Base Allows Projects to Live on Long After the Original Developer Hits the Exit
- Knowledge Sharing
“Two heads are better than one, not because either is infallible, but because they are unlikely to go wrong in the same direction.” — C.S. Lewis
The human mind is the most powerful tool in the known universe, and the old adage that two heads are better than one has stuck for a reason. Scale this to ten minds, a hundred, a million, and what do you have? Keen insight, shifts in perspective, competition, and collaboration all working in unison at advancing a goal.
It doesn’t matter whether you’re building a car or a killer new blockchain-powered app like odin.chat being able to access quality information from other talented minds helps.
ODIN Society and its contributing developers are committed to open-sourcing all of its codebase upon the completion of internal and third-party vetting of our codebases.
Superblock Funding Allows Projects Reduced Dependency on Solvency and Liquidity
- Project Longevity
Markets rise and fall. We’ve seen what a proper bubble can do to the tech industry. Unfortunately, this means that promising concepts, products, and the core code powering them often sink with the ship, and for what? Liquidity issues?
ODIN Society has effectively solved this problem through the implementation of Superblock funding made available upon successful community voting via our Masternode Proposal Portal.
A potential contributor can draft and propose their possible product or service and have it voted upon by the Masternode holding community members, and in turn, their compensation package will be in ODIN Coin. These incentives the party to develop the best product or service they can as they are now vested in the success of ODIN by holding ODIN Coin. In other traditional community models, the developers are reliant on the funding of the project to either a.) come from foundation wallets or personal funds of coin holders or b.) the payment of fiat currencies.
I’m excited to see what the future has for both ODIN Blockchain and the Society that powers it.
Where do I find out more about ODIN?
Discord Reddit Telegram ODIN Blockchain M.A.S.H. Odin.Chat
Read more about how to get Ø(ODIN) here.
Come on by our discord and @ [nondescript | ODIN] to have a discussion around the topics in this article.
