Cardano MENA Community zoom Meeting # 3

Juana is describing her involvement in a workshop in Colorado focused on developing a governance process for Cardano " CIP 1694" :firecracker: :bomb:
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The proposed governance process involves three main bodies: the constitutional committee, the delegated representatives, and the stake pool operators. Any ADA holder can propose a governance action, and there are seven types of actions that can be proposed. The proposed action is voted on by the governing bodies, and if approved, it can be enacted. There are ongoing conversations about the voting mechanism and other aspects of the governance process.

Juana discusses the concept of liquid democracy and the confusion around the different terms used, such as delegated representative and Drep in catalysts.
The conversation revolves around how to incentivize people to participate in governance and how to capture involvement at the ADA holder level. One proposed solution is to withhold rewards unless an ADA holder votes on one of three things: abstain, delegate their vote to a representative, or vote for a motion of no confidence. There are also discussions about how many representatives are needed and what community tools can be created to incentivize participation. Workshops and grants are being offered to develop these tools.

Mishari believes that there is a gap between those who are oblivious to cryptocurrency and those who are racing ahead to implement it, and that this gap is widening. He think that there needs to be more focus on bridging this gap, as many people do not understand the usefulness of cryptocurrency. He mentions his own experience with cryptocurrency and his desire to see more usable applications, such as a platform for giving loans to people in need, and note that current applications often lack playability or practical use. They conclude that there is a significant lack of usable cryptocurrency applications.

Mishari also sheds light on people who are involved in the serious and complex discussions about the future of cryptocurrencies, where while people don’t care from one side, and are trying to build constitutions and governments on the other side. However, they feel that there are currently few usable and practical applications for cryptocurrencies, and many of the popular games and platforms are focused on NFTs and collections rather than actual impactful use cases.
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