Update On The Steem Proposal System Was Just Released
@blocktrades released an update noting the progress of the Steem Proposal System.
steem.DAO
To start, it is no longer the Steem Proposal System but steem.DAO.
This is to capture the essence of decentralization and a tag that is likely to take off. For those unaware, DAO stands for Decentralized Autonomous Organization. This is an entity that does not have an owner, stock holders, or a board. It is completely decentralized with the ownership belonging to the community. Like a decentralized network, it lacks a single access point.
A company like this is running either on its own (autonomously) or is driven by a committee of representatives (oracles maybe) to oversee it. As with steem.DAO, there is nobody running it although it is being led by a number of member from the community to signed up.
This idea was proposed by Steemit and it makes a lot of sense. The tag DAO is going to become very popular in the future so we are already jumping the field with this.
Blocktrades put a link to the GitHub repository of the fork from the Steem code base. They also took a look at the Bitshares worker proposal system and spelled out those differences.
https://github.com/blocktradesdevs/steem/issues
Funding
There is great debate about how to fund the system. A couple options were presented with the donation route being the one opted for. This is how the initial set up will be although many of us are skeptical that the needed funds will be derived from this approach.
Thus far, using inflation is now clear. That is on the back burner until the donation path is applied.
Reason For Funding
Some might not understand why there is a need for this to begin with.
Simply put: development costs money. Even if someone is doing it on his or her own, the time involved takes away from other projects that "pay the bills". At the same time, depending upon the coding being done, there are times when aspects of the project need to be contracted out. Just because one is a coder does not mean there is expertise in every programming language.
The idea behind a worker proposal system is that the community can decide what projects it wants to see created on here via voting to fund. It also helps to draw in other developers who otherwise might not have the resources to pull a project off.
The link to Blocktrades post:
https://steempeak.com/steemdao/@blocktrades/update-on-steem-proposal-system-steeem-dao
It is always good to see things progressing.
If you found this article informative, please give an upvote and resteem.
I'd like funding for proposals to be very granular, with folks kicking in able to determine a lot of the parameters that affect how their money is spent. There are certain government servants we've likely interacted with whose salaries I doubt many of us would voluntarily fund a portion of, although our taxes are taken from us to do it no matter what we think. I bet some of us would be unwilling to fund certain endeavors unless we could hold those we are paying accountable for their performance on our dime, and we shouldn't be forced to expend our little stakes for things folks with big stakes want.
There are economies of scale that matter a lot here.
This is an important step towards decentralization, crowd-sourced project funding, and blockchain development, amongst other perhaps equally important things. I reckon we shouldn't rush headlong into it, neglect to ensure we can keep it under control, or fail to extract our heads from should we find we did rush headlong into a brick wall.
Some thought needs to go into this, and I do hope that tendency I have noted for folks to try to ensure their stake is tapped least is dealt with fairly. No one wants to pay more than their fair share, and that means everyone needs to pay their fair share. However, those with little to share can share less. Take an accounts last SP, and you force them out.
A flat tax would do that to some, but impact whales hardly at all.
For this reason, it would be foolish to tax author rewards, for example, because whales get very little author rewards compared to other sources. This would be very regressive, because it would primarily fall on those with the least stake, who need it most, and are most vulnerable to leaving. Whales would scarcely feel it, because their stakes are rewarded through other ways far more than by posting and commenting.
We need to grow our community to increase the value of Steem. Shrinking the community - particularly now, when we are seeing terrible retention - would do the opposite and decrease the value of our Steem even more.
None of us want that!
Thanks!
I still don't understand why Steemit Inc has never issued contracts to complete work if they actually wanted help with development. There's been literally zero communication about what needs to get done and how much those tasks are worth.
A large percentage of this community is willing to work for a discount so hopefully these proposals get things squared away.
I am glad the Donation system is being used. There was a little bit of consternation at some of the other options being discussed. I will be spending some time, letting the Photography, and Writing Communities know that funding seems to be decided on, without adversely affecting their posting.
Another reason why donation system can be bad is that it can make those who donate have more power and in control.
Only the largest project can run this way and usually in parts.
But Blockchain system based work process can also be bad if not done the right way:
https://medium.com/@arjunblj/zcash-the-founder-incentive-trilemma-fe7689fc8293
Highly rEsteemed!
@taskmaster4450, Let's see what will come out of this Steem Proposal System and DAO Economy. Hope that it will boost Steem Economy. Stay blessed and keep spreading the positivity.
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.
I see some contradiction on the community wanting to have a voice on how to develop with this proposal system but not willing to put into the funding it self and leaving it to the charitable efforts of the community. It will not work and will come back to drawing from inflation. However, I respect the iterative process we are undergoing as at least discussions are occurring.
Posted using Partiko iOS
This post has been included in the latest edition of SoS Daily News - a digest of all you need to know about the State of Steem.