Bitcoin Blockchain Governance
I have to chuckle when I hear “Bitcoin will not succeed because it needs GOVERNANCE.” This usually comes from those who don’t fully comprehend the nature of “Collaborative Consensus Decision Making”.
Having worked with collaborative technologies for many years before Blockchain and Bitcoin came along I am not at all uncomfortable with the process by which Bitcoin and Ethereum arrive at decisions to move their respective technologies forward.
The “Process” (I use that term lightly) is messy, difficult, noisy, and long, but at the end of the day it works! It’s as much a journey as it is a destination and one is not more important than the other at this state of blockchain evolution.
As the community grows globally the “Process” will grow in complexity and difficulty, and some say it will grow to the point that it cannot support the continued “Governance” of the respective currencies, others will attempt to shoe horn it into an institutionalized command and control modality, instead of letting it congeal into a solid support foundation.
Like many Open Source initiatives Collaborative Consensus Decision Making has supported organizations for decades and could support these currencies for decades as well. It often resists formalization and institutionalization when the stakes are high and the level of familiarity is low, that’s basic human nature. However like most journeys we discover things about ourselves and the others in our world and eventually the band hits its stride. Conventions become standards and the rough edges give way to seamless performance. (think internet browser technology)
Back when “Electricity was the new thing and it generated an increased transnational flow of ideas and products.” it took decades before global standards took hold. While blockchains have far less legacy technology to deal with than the electrical industry reaching stride is still a global problem that cannot be rushed.
Collaborative Consensus Decision Making is a real solid process, but for those accustomed to command control and political maneuvering it’s like fingernail on a chalk board. Breathe-in breathe-out give it time, even something as foundational as TCP/IP is a process (think IPV6).
At some point it’s a matter of faith, you look at the writing on the wall and believe or not. If you want to know what everybody else is thinking the daily price is one clue.
What are your thoughts?