[NetBehaviour] arts blockchain and DAOWO

ruth catlow ruth.catlow at furtherfield.org
Sat Dec 2 13:29:05 CET 2017


On 30/11/17 03:44, Rob Myers wrote:
> On 26/11/17 07:06 AM, ruth catlow wrote:
>> Hello Rob
>>> On 25/11/17 05:21 AM, ruth catlow wrote:
>>>> - Environmental and energy costs – more on this soon but I have been
>>>> looking at Faircoin – proof of cooperation and I wonder if the
>>>> clear-as-daylight, explicit mapping of environmental harm onto
>>>> crypto-currency trading could provide the impetus for a global move
>>>> to 100% renewables and zero carbon emissions.
>>> Decred's experiments in governance (and energy efficiency...) are more
>>> reflexive and to my mind sounder than Faircoin's for reasons I discuss
>>> indirectly in "Blockchain Poetics" -
>>> https://www.decred.org/
>> Please could you spell it out!?
> In the essay I talk about how well-meaning political changes to the
> technology of Bitcoin upset the economics of it.
> Faircoin uses an energy-efficient quorum of servers to assemble blocks,
> it does not create new coins via mining, it has allocated large amounts
> of coins to deserving individuals, it is seeking to build the price of
> the currency so it can better deliver value, and it is seeking to secure
> people's accounts with smart card technology.
> Or, from the point of view of the economics of mainstream
> Cryptocurrencies, Faircoin is baking in centralisation, pre-mining,
> whales, air-drops, pumping, and trusted third part hardware. These are
> all antipatterns, and all it takes is one bad actor for any one of them
> to become a problem. Game theory trumps good intentions where one of the
> players can defect...
> These are problems of governance. The current impasse in Bitcoin
> development is also a problem of governance. Decred is all about getting
> governance right. The proof-of-stake system it uses to mine blocks has
> been extended to a more general voting system -
> https://docs.decred.org/getting-started/constitution/#blockchain-governance
> https://bitcoinmagazine.com/articles/decred-launches-proposal-system-advance-blockchain-governance/
> https://bravenewcoin.com/news/decred-launches-decentralized-voting-process-for-blockchain-protocol-changes/
> So while it doesn't have the same objectives for "fairness" of initial
> distribution of wealth that Faircoin does, I think it has a better model
> of "fairness" in governance that might have a better chance of leading
> to an ultimately  fairer and more co-operative economic system within
> its own limited domain.
> - Rob.
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