Governance - The Basics
The literature contained within these pages is a work in progress and subject to change in pursuit of refining its future iterations.
Overview
A typical organization derives its legitimacy from a government agency or its officially recognised affiliators. Oftentimes its the tax department, or a semi-governmental business bureau with "standardised" accreditations etc. Even for organizations where this is not the case, most will need a regulated bank account.
In comparison an Autonomous organisation is put simply a software that can be run on any computer, anywhere in the world, with no need for chasing the standardised model for being recognised. An autonomous organisation uses money that is global, open-source and beyond the reach and control of any central authority. Its important to note that autonomous organisations are not lawless. To the contrary, like any organization, autonomous organisations have hardcoded set of own rules on organisational objectives, memberships, voting rights, etc. There's little to no room for unmerited hierarchy, corruption, middleman, or even an uneven distribution of resources or profits. This is achieved through the use of hardcoded rules set within an autonomous organisations MOA are executed by smart contracts, 'methods' and virtual machines.
Consider for a moment an autonomous organisation whose:
- Infrastructure & Resources:
Can be accessed from anywhere in the world. With a simple but secure and non-tracking web browser (much like Dijets Horizon browser). The frontend to this infrastructure is backed by a highly robust and cryptographically secured payment network like Dijets. Moreover participating nodes of the said organisation are spread all over the world and are duly encouraged and incentivised for checking each others integrity. If one of the participating computer turns rogue and tries to process a fraudulent transaction, it will be instantly rejected by everyone else. Extreme hypothesis and assumption of an entire country or a continent deciding to ban a network like Dijets just wouldn't work because the decentralised nature of the network means that it simply keeps going with all the records and transactions still intact, immutable and fully accessible. Its truly hard to fathom an attacking vector that could compromise a networked organisation like that. In that sense, a broad generalisation could be extrapolated here that decentralised autonomous organisations are by far the most secure, efficient, economical and censorship-resistant organizations ever invented.
- Payments and Transfers that just can't be stopped:
Because Dijets and networks like Dijets are virtually unstoppable, by extension that makes all the payments conducted on it with its native currency (DJTX) also unstoppable. An autonomous organisation like such is free to contract and trade permissionlessly with any person or organization also on that network anywhere in the world without limitations or restrictions. In essence, cryptocurrencies together with a well forumlated autonomous organisation's governance are a return to a Free Banking system where merchants and consumers are free to choose which currency they use, based on the respective currency's merit and "UTILITY".
- Talent acquisition & Workforce:
An organisation unbounded and unconstrained by red tape can access labor anywhere in the world. Autonomous organisations technically don't even need to actively recruit because there are no fixed terms or tenure, streaming and uninterrupted transfer of money through a smart contract simply means that anyone willing to give their time and best efforts in exchange for DJTX currency could simply provide the service an organisation is in the market for.
But Why? What's in it for Dijets?
Please bear in mind that Dijets goal is not to set examples of novel governance structures. Instead Dijets aim will be to facilitate organisations around the world, the infrastructure for an autonomous organisation backed up by its currency DJTX, and a basket of its products and services with real world utility. All of Dijets design and development choices have been geared towards building an ecosystem that can provide the most flexible and secure tools for creating and managing Decentralised architectures.
Governance Mechanism
It's easy to get carried away with the limitless possibilties of a connected, decentralised, omnipresent and verifiably fair organisation powered by a scalable and lightning fast transaction finality but just as its required with brick and mortar corporations, an autonomous organisation too must have a set of rules and structure in place for its day to day running and continuous evolution. And that's where Governance steps in. The beauty of this system is in its forthright & simplistic approach to "making sure that every single decision, transaction, action, inaction, hiring, firing, upgrade, downgrade etc" is recorded on-chain where its accessible for everyone to check and verify its authenticity. These variables in turn are picked out by HAL: The oracle which continually evolves, recalibrates and enhances its computational capabilities via machine learning and data training libraries to finally be able to build a quantifiable profile of the collective performance by the council for its respective term. In layman terms, based on the council's overall performance across a large subset of measurable parameters, at the end of each council's term HAL should have a verifiable blueprint on either how or how not to run an autonomous organisation with the provided set of proposals and voting choices.
Dijets own Governance mechanism is there to act as a precursor and a testbed upon which organisations of industry 4.0 could rely on, forever. To get there, we intend to introduce censor-resistant, flexible models of governance accompanied by a proven track record of the respective batch of council's performance output for that corresponding term. The short term goal for Dijets Governance is to gradually move away from solely relying on the council for DIPs and instead encourage an open door policy where anyone from anywhere in the world could submit a proposal to improve Dijets and if that idea has legs than the council together with the core team could vote on implementing it. The proposing party in turn receives the financial incentive for having submitted a proposal that was accepted through a majority consent. Open and transparent governance is the key element to allowing anyone to suggest, debate, and implement changes to Dijets protocol — all while not having to rely on a single entity, or a team making decisions for Dijets Ecosystem.
The Big picture
You could easily dismiss ideas of autonomous organisations as wishful thinking or too radical for the current times but that would be a gross underestimation of Technology's exponential growth factor. And while we discuss the feasibility of autonomous organisations and how "Twilight-ish" they sound, Decrypt, Forbes and Harvard Business School published a joint report in February 2022 confirming that $8.2 Billion has already been committed and secured in Treasury wallets of autonomous organisations around the world. That number alone for all intents and purposes should give a good indication about the world's appetite for trusting programmable code with billions of dollars in capital. The most important element of this big picture for Dijets is to use its technology stack and products/services to usher in the era of distributed hyperconnectivity with no limits. Literally anyone in this world with just a few Dijets in their wallet and an internet connection could spin up an autonomous organisation for a hedge fund, in a completely private subchain network built around Dijets Ecosystem without a Goldman Sachs resume or $100 million angel investment.