A New Era: Sögur
A personal note form Sögur’s Managing Director, Keren Orian Nadel
When we began this project 3 years ago, we envisioned the future of currency with a knowledge of the history of money; a deep understanding of monetary world and crypto ecosystem the coin would be launched into; and, crucially, a strong belief that technology empowers us to solve the challenges of local money in a globalised world.
2020 has been one of the most dramatic and disruptive years for human life in living memory. The far-reaching effects of Coronavirus have pushed us all to adapt, re-evaluate our commonly held notions of ‘normal’, and evolve.
Individuals and organisations globally have adapted to weather this storm — and so have we. Our project held its first-ever participants’ vote between 2 and 6 September 2020, on a number of key changes to the Monetary and Governance Models. These changes were ratified by 91% of holders, and implemented with immediate effect, as is written into the Governance protocol.
Since democratic governance is one of our founding principles, this voting process has been a true point of pride. It is the first example of the project’s purpose-built governance mechanisms doing what they were designed to do: count, configure and implement the will of the sovereign majority. And though we originally believed that the first vote would be under different circumstances, I am proud to see how the project — which our dedicated team has created and made into reality — has behaved, as truly democratic and self-sustaining.
This governance mechanism, along with the power of technology this project is built on, has meant that our responses to a dramatic and fast-changing market situation has been swift and certain — which has been a considerable strategic advantage. I believe that these democratically-ratified changes will support us on our onward journey. A summary of these can be found here.
The same vision which originated Saga — to create a truly global and democratically governed digital currency — still underpins this project. These amendments not only represent the first instance of Saga delivering on its promise of a democratically governed currency, but also a new era of the project. And with this new, amended model, we are also excited to share that we have a new name, to carry us through this new era and beyond: Sögur.
Taken from the Old Norse for history, our new name is a nod to our history, and the history whose shoulders we stand upon when looking to build the future of currency.
Thank you for your participation and support of this project thus far. We look forward to continuing on this journey with you.
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