Read this info from LP: Storecoin governance institutes one entity, one vote, which prevents an adversary with a disproportionately large stake in the network asserting disproportionately large voting power. Any questions?
I think that the Know Your Voter process is too complicated to implement. The main problem is here: One entity, one vote mandates verified identities of all voters, which typically requires a centralized identity verifier to certify voter identities.
KYV will be a complex process (not from the voter's perspective, but the implementation), but we believe that it is necessary to remove any dependence on a centralized entity to make decisions. See
this paper for verifying identity as a social intersection. "Decentralization" means different things to different people and the meaning changes from one context to another. The question is, how can you start the process of decentralization without a (even semi-) centralized decision making process? We believe KYV is one such answer.
- Storecoindev.