To distinguish charlatans from valuable players in crypto: * charlatans hype their supposed governance innovations * valuable players focus on minimizing governance (a.k.a. trust minimization) Only the latter gives you global seamlessness, censorship resistance, etc.https://twitter.com/Ruminorang/status/1027756116141371392 …
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There’s a yawning gulf between one-man-one-vote and direct exercise of ownership. Would you regard corporate governance as inherently flawed? Because direct governance of stake is strictly superior, lacking the principal-agent problem.
All kinds of governance are extremely flawed compared to a trust-minimized protocol, where (as with cryptocurrency) the latter is possible.
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