Real-life Governance Use Cases in Traditional and Blockchain Industries
▻https://hackernoon.com/real-life-governance-use-cases-in-traditional-and-blockchain-industries-
Blockchain governance is a critical issue as the technology gains wider use across industries. It attracted close attention after the Ethereum DAO incident, where a token holder exploited a bug to funnel about one third of the total value in the network into their own account. (The bug was later fixed via a “forking” algorithm, but the issue remains an open question.) More recently, the heist of more than half a billion dollars’ worth of digital currency from the Coincheck exchange in Japan was largely due to a weak governance structure, which in turn was because of lack of standardization to enable timely action.Governance is about who makes the rules and who enforces them. It is not only about the control of the blockchain; it identifies resolution mechanisms to deal with technological (...)
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