Ten Theses on Decentralized Network Governance — Placeholder

Existing systems of decentralized network governance differ in two defining aspects: (1) whether rules around implementing changes to the relevant software protocols are included in the software itself; (2) the level of formalization and institutionalization of off-chain governance.

I define governance as the process of applying any design feature or control mechanism that maintains and steers a system.

Decentralized networks are fields — social arenas of symbolic and material production in which interested actors compete and cooperate over network-specific resources as they provision and consume the products and services available in the network.

Decentralized network governance consists of four main components: (1) leadership, vision, and values that attract and guide network participants; (2) rules inscribed in the relevant software protocols; (3) rules and regulations external to the relevant software protocols; (4) community coordination and management.

Blockchain-related technological and institutional innovation is part of an ongoing maturation phase of the Information Technology (IT) Revolution, which includes the emergence of IT-native forms of socio-economic organization that are digital, global, and increasingly decentralized and automated.

Good decentralized network governance is one that steers the network through its various stages of development towards more innovative and socially useful functions, while adequately resolving conflicts between different stakeholders participating in or affected by the network.

In addition to conventional market dynamics, an overarching factor driving the evolution of decentralized networks is the tension between ideology, reality, and financial incentives.