by 0xbc02db030361121dd43bbb2fcbcb4f9f98c1dc7d (JasonX)
The formation of a council, that will have as one of its missions the establishment of an “Executive Arm”, represents a gross violation of the original trust set forth in the whitepapers.
Unlike other virtual worlds and social networks, Decentraland is not controlled by a centralized organization. There is no single agent with the power to modify the […] economics of the
Built with open standards as a public good, it operates beyond the control of any single entity
An Executive Arm would be a misappropriation of this “ownership of the LAND-owners”.
Considering that there cannot be legal implication from this is quite ludicrous.
Decentraland is a virtual reality platform powered by the Ethereum blockchain. Users can create, experience, and monetize content and applications.
As one of those who was attracted by this glorious promise, I can personally attest as to how this promise has been broken.
And from conversations I’ve had with others, it is quite clear I am far from being the only one having grievance over this.
Over the last year, I went on a deep dive of the situation in Decentraland, to try to understand not just what needed to be fixed, but also why things had gotten so broken in the first place.
And now I truly have a lot to say about it. And it is not pretty.
The vast majority of the applicants for a position on this council are, in my professional opinion, sorely unqualified for any such position.
Decentraland has become a ghost-town under the “leadership” of most of them, who have been presiding over this downfall with the use of their VP.
Now they are intent on institutionalizing their inability to properly lead the Decentraland project.
A council would essentially provide them corporate powers to push through changes which they couldn’t get the community to approve on.
A council would be the beginning of the end of the Great Grand Dream of Decentraland.
And so I had to delay even more my wondrous content-creation and go on a deep dive of the past of this DAO to understand what was going on.
And I have reached the conclusion that what is going on with this council formation may actually be highly illegal, and cannot even be allowed to proceed from this last standpoint alone.
First of all:
If suddenly there are actual legal entities to be sued, then there is quite a good chance for a few disgruntled LAND-owners to decide to go ahead and start lawsuits they may have been planning, with respect to the false claims that were made to them when they purchased their LANDs.
Whatever their belief may be about any such kind of false claim !
Knowing Human Nature, there is a very good chance for something like this to happen.
But more importantly:
As a security measure, elected Council members will have to disclose their real names and provide a valid photo ID to be shared with the rest of the elected Council members.
This needs to happen before a vote, not after a vote !
How are we supposed to have any way of validating that any given applicant’s resume is truthful otherwise ?
This is legally ridiculous !
I personally know the majority of the applicants, in my professional opinion, they are in no way qualified to be on any kind of such council.
As this is the first time the Council is being formed, members will also need to share their identities and ID with the Decentraland Foundation until the DAO establishes a formal legal entity. Once the DAO sets up its legal structure, it will take responsibility for safeguarding the KYC information of Council members.
until the DAO establishes a formal legal entity… How long is that ever going to take ??
For how long is it going to be only the Foundation, which is a separate legal entity, who will be the ones in charge of enforcing the “KYC” ? (KYC is the wrong term here, by the way)
Can we really trust an entity that has shown itself so incompetent as to deploy an Alpha product into production, and even attempt to label it “Beta” for a few weeks, to be able to properly “enforce this KYC” ?
…
Not really.
And it will no doubt be quite easy to make a legal case proving so.
And finally:
The Council will play a pivotal role in overseeing the DAO’s priorities, including potentially the Executive Arm
This a detail which makes it very likely for the SEC to want to weigh in. The original promise tied to VP is going to be completely thrown out the window if decision-power gets “reformulated” like this.
If you believe the formation of the council must be stopped & it is a terrible idea, please vote Yes
If you believe the formation of the council is a good idea vote No
- Yes
- No
- Invalid question/options