Governance in this blockchain space basically sucks. Every model whether it be proof of work, proof of stake, delegated proof of stake (dpos) all give more power to the few and less power to the masses. We have been saying scalability is the number one problem to fix as we transition into a phase for mass adoption but I believe the correct governance model will in the end win the majority of people. With many 1st world countries adopting a democratic governance model I believe this should also be the standard for blockchain one identity one vote.
I will focus on the EOS blockchain and their dpos governance model. We are only one year in and it has been hijacked by block producer (bp) cartels. Blockchain technology wont make bad people good or greedy people generous but if we get the governance model right we can control it with a better equipped math based system. As a person living in a first world country I strongly believe that having the right to vote in a system in which my vote counts just as much as the next person is one of the greatest rights that needs to be defended. Men and Women from all walks of life have fought and died for this right and will continue to do so to preserve their freedom and the freedom of others.
Although I think the current EOS governance is failing I think dpos has the best chance to get governance right and here is my idea. Please share comment let me know if you think this can work or why I’m completely wrong. Although every one hates KYC or some form of bio identifier I think it’s needed. I propose having a verified account voting system in which you can link one or multiple accounts to this verified voting account. This would mean you would need one verified account with just one EOS or even a fraction of EOS in it to be allowed to vote for bps and if you choose you could link all your other EOS accounts to this voter identified account or keep them anonymous, but regardless of if you have one account or 5 accounts linked you only get one vote.
Now here is how we incentivize people to create this voter account, in my last post I mentioned getting rid of the 4% inflation rate in EOS maybe a hasty decision. We should use the 4% inflation to do an equal daily distribution of EOS to all verified voter accounts that have voted for bps or proxied their vote to someone else.
Just my thoughts please let me know yours.
