Chapter 4 The role of the core team of the chainless system
The first part of this series is about the product innovation of the chainless system, the second part discusses the innovation of the chainless as a financial platform in production relations, and the third part is about the innovation of business models. The role of the core team of this article.
The chainless community is a community with currency as the bond
Satoshi Nakamoto created a new production relationship with Bitcoin as the bond, integrating computing power, programmers, and users. Its value is the “Watt steam engine” in the information age; the community’s development has broken traditional companies’ boundaries and requires a new form of social organization to suit the new production relationship- a community with currency as the bond.
The Ethereum Foundation is the core team of the Ethereum system
We see that the Ethereum Foundation is ultimately responsible for system security, fund allocation, and future development, and it also has legal personnel. The Ethereum system does not have a user community, while the chainless system has a user community. The proposal of the user community is an improvement on the Bitcoin and Ethereum communities, incorporating users into the community decision-making system. This kind of idea is widespread in blockchain projects. However, the chainless core team is not a foundation but a company, but it is not a standard corporate structure in the current sense. As the project improves, it will transition to community decision-making.
The core team has the right to operate
The project has profit income, and the core team has the right to invest in the form. Still, it does not have project equity and complete control and mainly exercises ecological management power through influence. It only has the right to operate and is ultimately responsible for the operation of the chainless system. Because a modern company has no complete structure, regulating the project with the current company law is impossible. As long as the project exists, the core team exists, but the community elects it in the later stage.
The check and balance role of the project party
Chainless has one more project initiator than Ethereum. The project party does not participate in daily management but bears the cornerstone responsibility for the project’s development. The project party plays a check and balance role. A power without checks and balances will eventually do evil. The community, the team, and the project party are both a community of interests and a check and balance relationship. Any system without a check and balance mechanism is like a car without brakes.
The withdrawal of the founding members
As founding members, they will gradually withdraw from the core team. The community elects the candidate. The system is more complex than Bitcoin, and taking 3-6 years as the exit target is appropriate. With exits, there are elections, and the 12-level design ensures that high-level talents are qualified to become core members. This upgrade is continuous, and elimination is done every month.
Autonomous systems require artificial intelligence
How should a community that transcends the company be operated? The best community project in the Internet field is YouTube, which has 50 million broadcasters and 2 billion users. Management is completely indexed. This index is quantitative and requires artificial intelligence. There is no established model yet, and further innovation is needed. The idea is to learn from the smart indicators and means of Web2.
Voting is achieved through representative democracy
The community transcends the boundaries of the company and the organizational structure of the company. Traditional companies have a separation of equity and management rights. The community brings together “equity,” control, management, and use rights. Users are shareholders and employees, and operators are supervised in real-time. The meaning of this management right is very different from the concept of company management rights. YouTube does not care about broadcasters, and broadcasters do not enjoy YouTube’s equity interests. The core team of the chainless system manages the community, which is equivalent to YouTube’s broadcaster management. It is comparable to being entrusted by the broadcaster to manage the project. This entrustment is equivalent to representation, and the decision is made by community voting.
Projects have development and maturity periods, and the corresponding strategies are different. The community is a practice of democracy. The group owner will make the delegated voting possible. As long as the group owners are sufficiently dispersed, the voting will reflect the true intention of the community. The group owner’s delegated proxy voting has a form of realization for the power of small shareholders, which is beyond the company’s decision-making mechanism. The effective management mechanism of the community inspires the effective management of society in the future.
Summary
There are concepts of ownerless communities and owner communities in the field of cryptocurrency. The ownerless community is an ideal state. Its checks and balances are reflected between the mining circle, the currency circle, and the core programmers, reflecting the high degree of automation of the system. For a fully automated system, even the community is not needed. Who has the right to improve a system that cannot be fully automated? Obviously, all participants in the system have the right. The community has the ultimate power for a system that relies on the community. The core team is equivalent to property management and is a management agency serving the community.
The core team is the actual controller in the owner community. Expanding the power of entrusted management is easy without checks and balances. In the chainless system, checks and balances are formed through the project initiators, making up for Ethereum’s lack of checks and balances.
The complete withdrawal of the founding members marks the formation of community autonomy, and the project initiators always play a cornerstone role.
If readers still don’t understand the community, please refer to “What Satoshi Nakamoto didn’t think of, didn’t say… Series 4: The cryptocurrency community has a long way to go” (chainless.hk).
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