I have some questions about the treasury system invented and engineered by IOHK for Cardano
and ZenCash
In short treasuries should provide a funding for a sustainable and democratic evolution of a decentralized system.
This raises some questions that have many similarities with real political/community situations.:
1.) How do you find majorities for evolutions that many recognize as necessary but are very complex/expensive? (let’s say something like inventing a provable PoS instead of wasteful PoW)
2.) who defines the timing for votings? is there something like a monthly submission deadline, and then a general pre-defined scheduling like: 15 days for promotion and discussion, then vote. Or are there different timings for small&simple and huge proposals?
3.) what happens (or better who acts) in case of ultimate urgency? waiting for the next submission deadline is not an option if Twitter and Reddit are full of reports similar to a DAO hack.
4.) what if a majority votes for simplicity’s sake against a minority that must bear the consequences? Let me bring up a real-world example: It’s easy to find a majority on a vote prohibiting farmers from applying pesticides and herbicides. But by far most of this voters are not going to buy organic food. To be more precise: They are not willing to pay a higher price for not quite flawless fruit and vegetables. Such a vote would force farmers to produce fewer goods at the usual discounted price with more work. This closes the circle to my question 1 because thus people instead of voting down a minority could just have started buying much more organic food, and the farmers would have loved to follow this trend.