Why I support the Merger Proposal for the New Foundation

This is in support of the Merger Proposal which is under consideration as a Foundation proposal that will be fundamental to the Steem Blockchain and the way we use it in the future.

Why Is It Important?

The process has the potential to change the way business is done on the Steem Blockchain at a very fundamental level. In other words, it not only affects every single person that holds any steem and participates at any level but has the potential to affect every single person that comes here in the future.

In any context imaginable it is vitally important.

What Does It Contain?

You should read and study the Merger proposal carefully, you should actually read and study all the proposals carefully and do your own due diligence when deciding which proposal to support.

It is a hybrid of three original proposals and takes the best parts of all three to make a single proposal that will fulfil the needs and desires of the whole Steem Community.

The Cliff Notes

This proposal provides a clear system and roadmap to promote, sustain and grow the Steem blockchain. It is built to be not only self sustaining (after an initial investment from Steemit Inc.) but to grow the Foundation funding over the course of years.

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GOALS:

Encourage Projects that will grow and enhance the Steem Blockchain.
Attract New Users
Support User Retention
Support projects that improve functionality and scalability of the Steem Blockchain
Investment, Marketing and Promotion
Stimulate Business Adoption
Mainstream the Steem Blockchain

The foundation will accomplish these goals through a series of boards of directors. An executive board, a board of directors and five specifically targeted ‘topical boards’.

The boards are structured to prevent and discourage conflicts of interest and specifically each fill a niche in the overall Foundation that will not overlap.

There are specific ethics and conduct guidelines and requirements aimed at preventing ‘over influence’ and prohibiting rewards for board members.

Financial requirements will fully allow this Foundation to do business in the US. If it doesn’t fly in the US, it won’t fly. Simple as that.

This is, overall a high energy proposal that represents a stunning number of ‘people hours’ when the original and merger proposals are considered. Not one iota of this proposal has been lightly considered.

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What Are the Potential Problems?

My hesitation is not much with the proposal as written (I think it’s a really good effort and worthy of support) but with a couple of things that are ancillary to the proposal.

1: The voting sample is TOO SMALL. Less than 500 voters will decide the direction the blockchain takes into the future. That means you need to register and vote which you can do right here. It is important not only in the sense of “Don’t Vote? Don’t Bitch.” but it is absolutely vital to us all. We need to ensure that the entire community is represented. Register and vote, even if that vote is for “none of the above”.

I’m not saying that the registered voters are anything but the very best in the entire system. My point is that not enough people care. I don’t see this as so much a problem with this vote because the interest is genuine and the decision made liable to be the best one available. I am concerned about the future. I can envision a situation where a relatively small number of people could hijack the process with such a small sample.

1. The Foundation as created needs to have the ability to refuse delegation. There are certain stakeholders that have large influence that is not always used for the community good and they have to be protected against. Large delegation means large influence and some of this influence could be counter productive to the community at large.

2. Centralized authority. I am generally of the opinion that decentralized is best in most instances. I believe this is one of those exceptions. It’s a governance project and those don’t lend themselves well to decentralized. This project has multiple checks and balances that will make it appropriate centralization in conjunction with the blockchain.

CONCLUSION: I find this proposal to be a well thought and crafted endeavor. I support it and would urge everyone to consider it carefully.

There are a few hours left to register to vote on these proposals. If you have not done so yet, do it right here and right now.