Governing Body

The ideal governance system for service oriented blockchain platforms like Cros allows all platform members to participate and make smart decisions quickly. However, in a decentralized setting, this ideal model is difficult to implement. Cros addresses this problem by developing a governance structure composed of elected contributors who share the core principles of Cros platform. The decision-making body must be able to make the best possible decision for the development of the platform based on a solid understanding of metaverse and blockchain technology, as well as a keen interest in the platform. Currently, however, the average blockchain user may lack the knowledge or interest in blockchain that is necessary to participate in Cros’s decision-making process. For example, Ethereum’s DAO has recorded a low voter participation rate (less than 10%). Because of the low participation, it is difficult to claim that any of the decisions represent the entire platform or present the future direction of the platform. Because of this, blockchain developers and communities insist a token-based voting system (with votes proportional to the number of tokens held) should be implemented rather than an identity-based voting system. This raises the issue of power being concentrated in the hands of those only interested in short-term financial gain.

We believe making platform contributors the main components of the governance structure, that is consistent with Cros' goals. Platform contributors are either service providers or those who have contributed to the development of the service in different ways (e.g., platform ecosystem contribution), have interests aligned with the long-term progress of the platform, and have a basic understanding of the platform. Platform contributors are more likely to make decisions that benefit the platform's long-term growth, and these foresight decisions will benefit everyone who uses the platform while also increasing the overall platform worth.