A report said that the Cardano (ADA) ecosystem has a complex governance structure, not dissimilar from the way the US democracy operates, with its built-in checks and balances.
It has been reported that according to the Foundation’s incoming CEO Frederik Gregaard, there are three main players: the Cardano Foundation, EMURGO, and IOHK, where the governance will only get more complicated as more organizations join.
However, he also said that he intends to maintain the Foundation’s independence from Cardano’s founder and IOHK CEO, Charles Hoskinson, who created this structure in the first place.
He added:
“The Foundation law in Switzerland says that we need to be independent. That’s exactly why it’s interesting and why Charles chose to set it up like that, because he really, truly feels that the people who are going to protect the Cardano protocol for the generations to come, need to be independent.”
As per the report, the Foundation’s mission is the advancement of “the Cardano protocol.” It also retains a development company for the protocol, which is currently IOHK, though its contract expires later this year. With the Voltaire era scheduled for release in a few months, the community will soon vote on whether to extend IOHK’s contract. In the unlikely event that IOHK fails to secure the backing of the community, another development company will be hired to take their place.
More from our CEO @F_Gregaard on the #Cardano Foundation preserving its independence in his latest interview with @Cointelegraph.https://t.co/dPFXYdKsib — Cardano Foundation (@CardanoStiftung) October 3, 2020
Gregaard accepts that Hoskinson is more than just the head of Cardano’s development company and there may be times when they will butt heads over the direction of Cardano’s development.
He said:
“Charles did initiate the project together with one of his colleagues. So, there’s no doubt about how brilliant he is and how visionary he is. But he’s running a product company that needs to deliver products. <…> I’m sure that there are going to be some fights in terms of priorities and some spots where we believe, together with the community maybe, that we should go a bit more right and Charles wants to be a little bit more left and we need to agree on that together.”
Also, he said that having worked with Hoskinson for the past 6 to 12 months (as a PwC consultant), he has a good feeling about this relationship, though he does not expect it to be easy.
Thus, Gregaard is a big supporter of decentralized governance, as, for him, this presents a viable alternative to the current state of the world, where Facebook and Google manipulatively exploit their users.
Source: Cointelegraph
Comments