We must solve the difficult task of building a management system for our ecosystem.
The main challenge is to solve the conflict of interest problem between node holders and projects using our system. The fact is that node holders are interested in maximizing the value of their assets, which is achieved by increasing fees and increasing the value of cryptocurrency. For users of the system, both of these processes are fatal — an increase in commissions increases business costs, an excessive increase in the value of the LAW causes currency risks for those who generate revenue outside our system (an analogue of exporters’ losses when the value of the domestic currency increases).
This task is like the problem of ensuring the true independence of central banks from governments, because the combination of these two functions gives rise to a similar conflict of interest.
Since the primary source of power is the holders of the nodes, it is necessary to provide for a mechanism of checks and balances that restrains from excesses in monetary policy.
Since the search for the perfect solution can take a long time, we offer an interim solution that can be used right now.
In our view, the system will be based on decision-making by several communities, as is done in many states that form several chambers of parliament to represent various interest groups.
In general, such systems are described by transactions with two keys.
At the first stage, we propose using a smart contract that allows spending public funds in the presence of 2 keys. The first key is the result of voting by the holders of the nodes. The second (as a temporary solution) remains with the development team. In the future the second key is subject to transfer to a specially created body that ensures the interests of users of the system.
Thus, at the first stage, the spending of public funds becomes possible with the proposal of the development team and the consent of the holders of the nodes.
We will be glad to any constructive suggestions and ideas, we ask you to send them to a specially created topic in our feed on Ubikiri:
https://ubikiri.com/profile/post/e05bcdb7-bd14-409e-9c4d-b8447d799be0
