The Omnitude Foundation’s Mission, Governance Constitution and Design
Here is a first release of how we see the Omnitude Foundation working and we’d love your feedback on this important aspect of our business.
Mission
The Omnitude Foundation will be a not for profit entity, committed to the development, governance and growth of the Omnitude ecosystem. The Board of Trustees will constitute the governing body of the Omnitude Foundation. They will define the strategies and select functional committee chairpersons to facilitate the operation of the Foundation. Designed for openness, inclusiveness, security, transparency and efficiency, the Foundation will ensure the development, innovation and growth of the Omnitude ecosystem.
Governance Constitution
The Omnitude Foundation will have a charitable or not for profit status, committed to the development, governance and advancement of the Omnitude Platform’s ecosystem. The decentralized operating mechanism of blockchain technology enables the Foundation to have an innovative governance structure, much more aligned with the decentralized operating
community. The organizational diagram below provides a representation of the Omnitude Foundation’s governance structure.
The Omnitude Foundation Governance Structure
As mentioned earlier The Board of Trustees will be the governing body of the Omnitude Foundation. It will be an elected Board consisting of identifiable stakeholders. The Board of Trustees will lay out the critical strategies and select functional committee chairs to oversee the operational units of the Foundation. From time to time there will also be temporary Committees initiated to address short term needs. These will operate in the same
way as the established Committees.
Stakeholders
In the Omnitude Platform, the stakeholders will be ECOM holders and each will have specific roles such as Sponsored Nodes. Each of the stakeholders will hold voting rights and will be individuals, corporations, partners, ‘not for profit’ entities and other institutions with a valid legal status. There will be a stakeholder vote allocation model to ensure the inclusiveness of all
identified stakeholders in the Omnitude ecosystem.
The Board of Trustees will be heavily involved in the blockchain ecosystem by providing active governance, ensuring the security, integration readiness, adoption and collaboration of the Omnitude ecosystem. The Omnitude Foundation will be the Issuing Authority that grants Omnitude IDs to any party wishing to participate in the Omnitude ecosystem.
The Omnitude ecosystem codebase will be released under the MIT License to ensure any network participant can extend and adopt the platform for its’ specific use cases The Board of Trustees will also be responsible for setting up the general oversight and framework, including the design of the operating rules of the blockchain, intended to achieve these goals.
Last but by no means least important, the Board of Trustees will have a social responsibility to enable access to Blockchain development so that individuals and Small to Medium Enterprises can participate in the new ecosystem. To this end the Educational sub-committee will be developing an Omnitude Blockchain Academy in conjunction with 3rd Party providers to offer world class training opportunities and scholarships within the first year of obtaining
Charitable status.
We’d love to hear what you think. Please give us a round of applause or comment below and let’s create some good discussion. Thanks!
