►
Description
We hosted another special Governance Meeting on July 11th.
Rune joined us to dig into to some major themes concerning the '20% Principle', explore some of the finer points of what makes 'Sustainable Finance', and talk about the road to 'Gradual Decentralisation'.
Foundation Proposal: https://medium.com/makerdao/foundation-proposal-caeb382465c1
Website: https://makerdao.com
Twitter: https://twitter.com/makerdao
Reddit: https://www.reddit.com/r/MakerDAO/
Chat: https://chat.makerdao.com/home
Email: info@makerdao.com
A
Foundation
proposal
meeting
this
is
a
series
of
weekly
meetings
with
special
guest
room,
Christensen
who's
going
to
be
walking
us
through
the
foundation
proposal
document
that
we
released
a
couple
weeks
ago.
It's
an
extremely
important
document,
I'm,
hoping
that
everybody
has
had
a
chance
to
read
it.
If
you
haven't
it's
linked
in
the
comments
below
I've
always
wanted
to
do
this,
and
while
you're
there,
please
click
Subscribe.
A
A
I
want
to
talk
briefly
about
a
new
meeting
schedule
that
we've
been
talking
about
internally,
there's
a
great
deal
of
information
that
we
as
a
foundation
need
to
go
over
and
to
understand
in
advance
of
the
release
of
decentralized
governance
before
the
release
of
the
multi
collateral
pie,
and
because
of
that
volume
of
information
we
all
need
to
sort
of
become
ad
hoc
experts
in
and
then
we're
going
to
be,
having
three
weekly
meetings
instead
of
one.
The
schedule
has
been
posted
to
Reddit,
but
the
plan
right
now
is
Tuesday
is
at
9:00
PST
a.m.
A
we'll
continue
with
our
community
meetings
or
talk
about
general
events.
What
the
foundation
has
been
up
to
what
kind
of
partnerships
we
have
things
like
that
on
Wednesdays
will
be
having
proposal
meetings
where
we
speak
about
anything
related
to
sort
of
the
overarching
vision
of
the
organization,
we'll
talk
about
a
foundation
proposal
itself
and
the
issues
that
are
contained
in
there
like
sustainable
finance,
the
20%
principle,
gradual
decentralization.
Those
meetings
are
also
at
9:00
a.m.
on
Wednesdays
on
Thursdays
we'll
be
starting
a
new
series
of
meetings.
A
The
first
one
will
be
tomorrow
with
a
special
guest
recurring
guest,
almost
a
co-host
at
this
point,
Stephen
Becker
who's,
our
head
of
risk,
and
he
will
be
helping
us
all,
get
ramped
up
on
the
so
the
complexities
around
scientific
governance
and
the
risk
framework
that
the
risk
teams
have
been
working
on.
So
we
can
all
understand
how
we're
gonna
do
governance.
A
What
that
governance
is
going
to
look
like
for
maker
down
and
talk
about
how
we
onboard
collateral
and
dealing
with
some
of
the
finer
points
of
what
risk
actually
means
which,
which
is
going
to
be
a
significant
amount
of
information
to
absorb
some
hoping
to
see
everybody
there
as
well,
if
your
interests
align
with
that
Thursdays
at
9:00
a.m.
PST,
that's
my
plug
I
think.
B
A
Great
point,
so
if
anybody
has
something
that
a
burning
question
that
needs
to
be
answered
feel
free
to
pipe
up,
you
know
with
a
voice
or
type
your
question
in
chat
and
Jess
will
be
monitoring
that
and
she'll
make
sure
that
you're
heard
room.
Do
you
want
to
introduce
yourself
and
tell
us
what
you
do
at
maker?
Then
everyone.
A
That
about
covers
it,
I
think
so.
The
last
few
meetings
that
we've
had
have
been
primarily
focused
with
exploring
some
issues
around
the
20
percent
principle,
which
it
is
complex,
there's
a
lot
of
nuances.
There
there's,
there's
I,
think
there's
gonna
be
more
conversations
to
be
had,
but,
and
we
still
have
a
few
questions
remaining
Rudy.
Do
you
want
to
give
us
a
brief
overview
just
to
set
the
stage
of
what
the
20
percent
principle
is
about,
and
then
we
can
talk
about
those
questions.
Yes,.
C
B
A
B
B
A
That
that's
an
interesting
point
and
you
phrased
that
before
which
I
think
that
a
lot
of
our
or
holders
are
kind
of
they
find
that
kind
of
compelling
and
I
do
too.
So
there
there's
the
straight
up
a
practical
application
of
creating
relationships
with
local
regulators
being
seen
as
a
good
actor.
So
it's
there's
business
utility
in
doing
good
from
this
perspective,
but
there's
also
the
flip
side
of
that.
Is
it's
not
a
completely
sort
of
cynical
exercise?
It's
a
wait.
A
We
have
this
very
strong
focus
on
actually
doing
good
in
the
world
as
well
as
sort
of
baked
into
our
DNA,
which
it's
an
interesting
points
of
stress.
So
when
it
comes
to
dealing
or
at
least
creating
relationships
with
local
regulators
or
local
governments,
will
that
be
well
that
factor
into
the
charities
or
the
humanitarian
efforts
that
we
focus
on?
Will
we
look
to
specific
geopolitical
implications
or
relationships
that
can
be
sort
of
fostered
by
picking
one
one
fund
over
another?
So.
C
I
mean
ultimately
MPI.
Let's
make
the
final
decisions.
Everything
like
this
right,
but
I
I,
absolutely
think
that
there
is
I
mean
it's
it's
an
especially
seen
in
like
that.
This,
of
course,
is
also
justified
as
for
Union
and
exercise
in
promoting
adoption
and
growth
right,
so
I
think
there
absolutely
is
an
opportunity
to
make
you
know
to
ensure
that,
like
the
stars
align
in
terms
of
me,
we
do
our
charity
and
we
distribute
die
or
like
support,
charitable
or
whatever
infrastructure
in
areas
that
that
use
that
in
some
way,
when.
A
C
What
did
you
know
a
deeper
penetration
of
the
society
and
then
being
able
to
add
on
top
like
as
a
cherry
on
top
like
this,
like,
like
actual
show
up,
obviously
again
like
fundamentally,
has
to
be
non
cynical,
but
actually
earnest
charity
and
earnest
like
efforts
done,
but
just
to
show
basically
look.
We
want
to
help
we're
good
guys
and
we're
doing,
but
you
know
that's
a
primary
reason.
Excuse
me:
we
are
good.
C
C
Of
us
as
good
guys
and
you're
completely
honest
about
that,
we
really
haven't.
You
know
just
like
it's
just
like
an
extra
thing.
We
brings
the
table
in
terms
of
the
kind
of
like
a
long,
lasting
partnerships
we
can
make
on.
You
know,
unlike
a
I,
mean
on
a
societal
basics.
Right
I
mean
this
is
something
I
thought
about
for
I
interned
with
the
social
contract,
we're
sort
of
going
out
and
trying
to
to
my
get
to
an
entire
people
of
a
whole
country.
C
That's
like
a
very
delicate
situation
to
be
in
right
and
you
sort
of
deep,
every
single
car
you
have
available.
If
you
want
to
actually
be
able
to
both
the
beats,
the
competitors
in
the
marketplace
and
also
win
the
people's
hearts,
and
so
them
actually
be
seen
as
I
said,
not
really
a
contender
in
the
marketplace,
but
actually
like
a
saver
from
the
heavens.
C
In
a
sense
right,
I
mean
all
those
right
I
mean
in
terms
of
how
we're
like
changing
things
completely
and
and
how
we
had
a
vision
for
the
future
where
finance
and
Margaret's
and
so
on.
Just
have
like
a
dick
and
more
like
yeah,
you
know
like
it
a
completely
different
verge,
so
that
is
but
these.
So
these
are
all
the
advantages
like
all
the
arguments
that
what
I
call
like
external
augment.
C
So
basically,
all
these
like
I
mean
ultimately
in
a
sense,
you
can
consider
like
cynical
reasons
for
why
it's
profitable
carry
right
because
they're
really
like
justifications
for
if
we
spend
20%
of
our
surplus
on
charity-
and
you
can
actually
expect
to
get
value
that
is
greater
than
20%
of
our
service
if
we
or
if
we
had
just
like
to
buy
and
burn
or
be
used
in,
something
else
actually
turns
out
that
credibly
committing
to
charity
is
actually
a
like
a
legitimate
business.
Strangely,
but.
A
C
There's
also
yeah,
there's
also
those
the
other
side
to
the
coin
right,
which
is
what
I
call
the
internal
argument.
So
basically,
they
act
like
in
which
I
actually
believe
on
the
stronger
is
stronger
argument,
which
is
actually
that,
fundamentally
for
maker
to
sort
of
function
like
for
the
for
the
maker
community
and
and
the
community
spirit
and
sort
of
the
people
like
I
mean
not
just
the
people
involved
now,
but
especially
the
fact
that
we
want
to
be
able
to
onboard
people
into
our
community
in
sizes
that
are,
you
know
like.
C
We
want
to
be
able
to
confidently
open
up
and
let
in
a
hundred
thousand
people
if
we
and
we
popping
something
like
five
thousand
people
right
now.
So
you
know
we
have
twenty
new
guys
for
every
old
guy
everyone,
okay,
and
we
want
to
be
actually
sure
that
the
the
principles
and
the
community
spirit
and
some
of
the
moral
standards
and
thinking
habits
that
we
build
up
very
strongly
like
imprint
themselves
on
the
new
guys
and
and
another.
C
In
but
we
sort
of
want
to
make,
we
sort
of
want
to
assume
that
we
already
have
a
good
idea,
what
we're
doing
in
sort
of
it.
What
we
already
build
up
is
is
the
right
path.
Right,
I
mean
that,
because
that's
a
goal
with
the
situation
currently
and
we're
still
flexible
enough
to
actually
set
out
the
path,
and
then
we
want
to
make
sure
that
the
path
would
take
is
it's
one
that
is
so
like
you
know
like.
C
A
C
Absolutely,
and
in
fact
also
I
mean
that's
why
it's
great
but
I
keep
repeating
these
documents.
I
mean
I'm,
good,
saying
this
every
time
at
the
past.
The
past
meetings
like
this
right
because
ultimately
idea
is
that
these
arguments
and
this
type
of
thinking
should
spread
out
in
community
and
go
from
community
member
to
new
community
member
and
then
well
I
mean
and
then
so.
The
internal
argument,
basically
is:
if
these
new
people
I
mean
let's
say
the
outsider,
who
comes
in
and
he
is,
he
is
brought
into
our
our
mind.
C
Space
right,
like
he's
far
into
our
way
of
thinking
and
he
internalizes
20%
of
charity,
that's
great,
like
that's
a
good
thing
and
I
feel
feel
good
about
it
and
that
will
actually
result
in
him
being
a
better
governance
system.
Again.
Will
some
result
in
him
be
more
likely
to
output,
useful
scientific
governance
for
the
for
the
scientific
framework
and
and
and
the
the
the
main
link
here
between
like
what
like?
Why
that
should
be?
C
Better
is
basically
that,
like
the
scientific
put
like
the
pursuit
of
science
itself
and
then
scientific
consensus
and
scientific
process,
it's
fundamentally
something
that
isn't
you
know
like
it
is
not
profit
motivated
right
like
fundamentally
like
it
is
something
that
is
I
mean
you
could
say
altruistic,
but
maybe
that's
like
that's
a
where
it
that's
loaded
and
a
slightly
different
way.
But
it's
also
is
like
it's
I
guess
another
another
way
to
call
it
be
constructive.
Right,
like
you
participate
in
in
science,.
C
C
The
world
and
like
it
is-
and
this
is
then
when
we,
when
we
come
back
to
right
there-
is
action,
also
going
to
be
a
class
effector,
potentially
like
out
there
in
the
in
the
dark
depths
of
the
fortwo
economic
landscape,
that
will
that
could
potentially
participate
in
governance.
Without
this
mindset
and
to
you,
the
alternative
is
the
mindset
where
you
participate
in
governance
for
your
own
sake,
which
is
all
you
know
like
tragedy
of
the
Commons
prisoner's
dilemma,
whatever
you
want
to
call
it,
it's
all
game
theory,
but.
A
The
sort
of
this
this
formulated
for
a
formalized
scientific
governance,
so
a
framework
that
requires
logical
inputs
and
modeling
of
the
actual
results
sort
of
eliminates
opportunities
for
shady
game
theoretical
maneuvering.
It
forces
people
to
prove
their
assumptions
and
saying,
instead
of
trying
to
know
like
bamboozle
the
the
community
by
claiming
that
one
outcome
will
result
from
this
proposal,
they
actually
need
to
prove
it
so
you're,
creating
some
kind
of
transparency
and
reproducibility
in
the
scientific
governance
process,
but
also
in
the
charitable
giving
process
as
well.
Yeah.
C
C
Unfortunately,
and
that's
why
I
mean
we
can
get
very
far
with
the
scientific
framework,
but
the
final
stretch
like
the
last
mile,
that's
where
well
abundance
mentality
is
that's
where
the
spiritum
of
giving
and
like
this
period
of
we
want
to
support
charity,
because
we
actually
in
this
stuff,
not
just
to
make
money
at
just
selfish
gain,
but
for
building
a
better
world,
and
you
know
making
everything
awesome.
That's
awesome,
tragedy.
A
Of
the
Commons
is
an
often-repeated
parable,
but
I
think
that
that's
it's
primarily.
What
we're
all
about
are
one
of
one
of
the
primary
risks
to
the
maker
ecosystem
right.
We
people
are
coming
in
for
a
short-term
game
that
might
not
be
looking
for
the
its
words,
the
long
terms
just
to
system
stability,
theory
of
our
organization.
We
need
to
be
able
to
identify
those
kinds
of
actors,
and
the
science
of
the
governance
process
will
help
sort
of
uncover
that
yeah.
B
And
David
actually
asked
an
interesting
question
a
bit
alternative
to
that.
If
we
would
consider
opening
an
option
for
organizations
to
match
the
maker,
you
know
charity
contributions
and
he
follows
whether
or
not
that
might
be
a
way
that
institutions
could
influence
money
to
be
granted
to
their
own
initiatives.
C
Yeah
I
mean
so
this
is
so.
This
is
absolute
like
well,
that's
kind
of
to
two
things
to
this
right,
I
mean
in
this
short
term.
The
foundation
is
actually
going
to
contribute
to
charity
beyond
the
20%
principle,
and
this
will
be
like
this
will
be
very
strongly
with
these,
like
business
development
goals
in
mind,
it's
all
about
like
hovering
and
branding
together
with
the
right
guys
I
like
supporting
initiatives
that.
C
Sense
in
like
a
short
term,
strategic
sense
and
absolutely
I
think
that's
also
something
that
the
20%
principle
should
be
useful
right.
It's
like
also
about
like
it's
not
just
about
like
creating
unity
and
creating
like
shared
like
share
of
community
spirit
within
our
community,
but
also
doing
so
with
the
other
good
actors
have
the
real
world
that
we
identify
us
as
being
legit
and
the
kind
of
the
kind
of
companies
that
we
want
to
see.
You
know
be
the
ones
building
the
new
world
right
then,
and
yeah
I
mean
I.
C
Think
it's
always
like
that
I
mean
my
hope
is
that
the
20%
principle
will
be
something
that
it
is
applied
in
a
way
that
sort
of
you
know
that
is
like
self
sustainable
in
a
sense
of
like
it.
Does
it
from
a
business
point
of
view.
It's
it
makes
sense
that
we
we
use
it,
but
fundamentally
it
is.
It
is
linked.
Sort
of
like
it
is
altruistic.
Fundamentally
right,
like
I
mean,
and
that's
kind
of
like
an
important
thing,
because
only
then
do
you
get
these
like
spiritual
benefits
from
it
right.
C
If
it
turns
into
something
cynical,
then
in
fact
at
this
point,
like
it's
kind
of
at
that
point,
you're
it's
it's
a
marketing
budget
in
a
sense
right
and
there
and
that's
what's
very
important.
It
should
not
be
covered.
It
should
be
like
this
thing
that
that
ultimately
becomes
like
a
safeguard
off
the
whole.
Like
maker
governance,
efis
like
if
you're
a
maker
governor,
ultimately
you're
you
are,
you
know
you
are
personally
committed
to
help
the
stability
of
died
and,
by
extension,
the
world
in
a
sense
right
and
like
and
from
there.
You
know
you.
C
C
C
Just
like
you
know,
change
the
world
for
those
who
are
on
the
privileged
in
an
unlucky
situation,
but
so
there's
a
point
I
want
to
get
back
to,
and
that
is
this
like
giving
the
abundance
mentality
and
like
this
mindset
of
selfishness
versus
altruism
in
in
the
context
of
risk
governance,
and
that
is
I.
Think
the
primary
driver
of
tragedy
of
the
Commons
right
is
really
actually
a
network
effect.
I
would
say
right
and
corruption
in
general
is
like.
The
question
is:
are
your
peers?
Are
they?
A
C
The
primary
thing
that
drives
a
decision
with
yourself
is
whether
or
not
the
other
people
don't
surround
you,
because
everyone
else
is
like
getting
money
under
the
table
or
like
voting
for
their
own
coins.
Why
should
you
like
to
stand
out?
Us
is
like
shining
example
of
naivete
when
everyone
else
is
profiting
and
you're
not
right,
but
on
the
other
hand,
if
it,
because
the
other
way
everyone
else
has
is
like
a
pond-
that's
mentality.
It
like
this.
C
This
believes
that
they
already
have
enough
things
already
great
right,
like
they
already
have
NPR
and
it's
going
and
the
system
is
stable
and
it's
growing
and
it's
growing
great,
like
they
don't
need
mall.
You
know
they
don't
need
excessive
games.
I
just
need,
you
know
like
great
great
value
right
and,
and
they
actually
gain
more
from
then
also
getting
spiritual
fulfillment,
basically
not
just
and
and
also
just
they
sort
of
have
this,
and
this
is
again
kind
of
what
the
point
of
the
21
principle
is
right.
C
They
also
had
this
like
I,
mean
I'm
called
faith,
basically
that,
ultimately,
this
is
sped-up
for
the
long
run
I
mean
they
are
just
advantages
to
basically
can't
even
really
identify,
but
we
just
know
it's
them.
It's
just
a
good
thing
to
do,
and,
and
what
comes
around
goes
around
that's
right.
Yeah.
A
I
agree
with
you
personally
that
that's
probably
the
case,
but
it's
how
to
make
that
happen.
I
think
that
where
things
get
complex
and
we
can
have
meetings
to
talk
about
what
the
general
tone
is
and
the
feeling
is-
and
we
can
have
like
stuff
on
medium
about
the
foundation
for
pense
proposal
and
principles,
but
how
do
we
actually
make
those
kind
of
safeguards
into
the
the
DNA
of
maker?
A
Doubt
specifically,
is
it
well,
we,
it
is
just
a
matter
of
measuring
like
negative
externalities
and
like
having
that
as
a
part
of
a
framework
for
evaluation.
Is
it
a
cultural
kind
of
let's
hey
everybody?
Let's
chat
about
this
proposal,
which
I
think
might
be
bad
or
good.
How
do
we
make
sure
that
this
kind
of
stuff
doesn't
get
co-opted
or
diluted
over
time?
So.
C
C
That
then
causes
an
existential
risk
or
something
right
to
the
world,
but
I
mean
what
my
answer
to
that
is:
that's
a
20%
principle
like
that's
where
sort
of
starts,
because
and
and
what
and
specifically
what,
how
do
we
make
the
20%
principle
of
reality
right,
it's
very
simple:
first,
everyone
who
has
a
problem
with
that
I
guess
like
people
who
are
skeptical
about
it
fundamentally
like
keep
bringing
up.
You
know
basically,
like
you
know,
like
debate
with
me
to
death.
C
Basically,
there
are
specific
issues
and-
and
me
and
some
other
people
keep
attending
to
like
you
know
a
legacy.
You
know
convince
them
that,
ultimately,
it's
just
like,
even
even
if
you're,
Hahnemann's
and
selfish,
it's
still
in
your
best
interest
to
support
this
at
this
point,
because
you
know
it's
like
it's
about
the
unity
of
the
the
community
at
that
point,
right,
like
and
you're
still
gonna
be
I
mean
like.
B
C
Giving
our
charity
should
be
based
in
desire
for
like
a
self-interest
right
and
sort
of
like
a
belief
that
why
should
I
give
it
like
I,
don't
know
anyone
else,
anything!
Listen!
You
know
why
shouldn't
I
get
that
money
right,
but
if
you're,
if
you
can
sort
of,
if
it's
clear
that
at
this
point
we're
talking
about
like
you
can
achieve
like
a
label
of
community
uneasiness,
we
wouldn't
be
able
to
otherwise
achieve,
and
that
actually
helps
us
credibly
God
against
long
term.
Issues
such
as
the
treasure
of
the
comments
so.
C
I
mean
yes,
but
what
I
would
like
is
this,
but
yes,
but
it's
really
about
I
mean
fundamentally,
this
is
about
putting
it
into
it's,
not
just
building
it
into
the
foundation.
It's
right!
It's
about
building
it
into
the
minds
of
the
people
in
the
community
and
also
maybe
make
people
just
realize
that
this
is
something
that
they
themselves
care
about
and
benefit
from,
and
at
that
point
it
will
be
like
I
mean
once
it's
there
and
once
this
critical
mass
of
an
abundant,
you
know
abundance
mentality
of
altruism
in
the
community.
C
A
C
And
that's
actually,
where
I
think
and
that's
what
I
also
consider
to
be
like
what
I
think
is
very
cool
about
xx
crystal
right
is
that
it's
not
just
something
we
vote
in
now
and
then
we're
like.
Okay,
now
we
are
chair,
insists
and
we
do
charity
all
the
time
like
now
we
know
now
we
get
charity
is
actually.
C
The
point
is
also
that
not
only
will
it
community
consciously
make
a
decision
to
sort
of
unite
around
supporting
charity
and
only
sort
of
you
know
like
stressing
the
importance
of
altruism
and
selfishness
selflessness
in
life
scale.
You
know
economic
collaboration,
but
we
will
also
have
a
guitar.
You
know
we
will
also
be
have
the
whole
charity
as
sort
of
the
thing
that
brings
us
together
regularly,
because
we
will
be
constantly
managing
it
together
right
and
will
be
sort
of
the
alongside
the
risk
governments.
C
It
will
be
the
place
where
we,
basically,
you
know,
certainly
exercise
being
being
a
part
of
making
it
right,
like
it'll,
be
sort
of
a
fundamental
activity
with
you
and
that's
the
thing
like
that
gives
us
something
that
sort
of
every
time
you
do
that
activity.
We
are
reinforcing
who
we
are
and
you're
reinforcing
this
identity
of
altruism.
Do
things
right,
be
the
good
guys
and.
C
A
That's
interesting,
I
think
that
one
of
the
things
that
it
aligns
with
our
new
meeting
schedule
is
that
we're
going
to
be
attracting
different
demographics
of
people
and
and
perhaps
the
scientific
governance
risk
framework
people
will
gravitate
to
those
Thursdays
and
the
let's
do
good
in
the
world.
People
might
gravitate
to
the
Wednesday
meetings
we've
been
chatting
for
a
half-hour
and
we
haven't
gotten
to
any
questions.
B
So,
if
you've
actually
asked
some
interesting
questions
on
the
subject
who
those
audience
would
be
first,
yes,
who
uses
die?
What
is
the
target
audience
following
up?
Yes,
what
charitable
work
will
motivate
that
person
to
use
die?
And
third,
he
asks?
Do
you
think
it
charitable
act
will
be
more
effective
if
it
adds
benefit
to
the
world
as
a
whole
or
if
it
targets
the
user
base.
Specifically.
C
This
area,
and
unfortunately,
we
can't
like
we
are
under
very
strict
NBA,
do
for
the
sake
of
security
of
people
who
involved
in
this.
So
we
can't
actually
talk
about
any
details,
but
I
just
wanted
to
say
that
there.
This,
essentially,
is
something
real
happening
right
now,
using
dodge
so
I'm,
just
these
terrible
bills,
but
two
more
to
the
question
of
who's
using
it
right
now,
that's
for
relevant
for
this,
so
I'm,
just
gonna
like
after
this
example
of
a
couple's
real
example.
C
Yeah
I
mean
there's
a
like
this
part.
Go
there's
actually
like
real,
like
business
opportunities
there
and
there
is
like
relatively
Goods
smartphone
penetration,
and
so
you
will
have
people
and
but
where
there
isn't
is
like
there's
terrible
financial
infrastructure
right
like
nobody's
got
bank
accounts,
I
mean
if
you
get.
You
know,
like
the
banks,
don't
really
care
about
the
regular
people
there
at
all
right.
C
So
so
you
have
this
problem
with
like
cash,
cash
holding
and
cash
on
the
pillar
or
the
pillar
of
light
and
stuff,
and
these
people
will
just
they
will
use
diet
like
just
as
they
say,
I
mean
instead
of
holding
a
bunch
of
cash
that
can
be
stolen,
they'll
hold
the
guy
in
the
smartphone
and
then
have
like
you
know
like
a
cold
wallet
back
up.
Just
like
you
be
able
to
like
accept,
accept,
like
X,
is
more
secure.
C
It's
like
really
basic
banking
banking
service
needs
and
then,
from
there
also
like
filled
up
it's
a
more
advanced
stuff
right
like
we
can
actually
get
access
to
financial
services.
They
can
even
like
it
best
in,
and
you
know
like
in
the
just
like
in
a
portfolio
that
it
helps,
will
grow
their
wealth
over
time.
They'll
be
boost
up
at
mazda6,
so
suddenly
they
can
create
companies
there's
all
these
things.
I
mean
looking
at
an
unbanked
area
like
like
many
areas
in
sub-saharan
countries.
It's
just
like
you.
C
This
you
know,
like
it's
so
easier
to
to
explain
exactly
how
I
and
blockchain
is
going
to
dramatically
change
that
right,
like
for
individuals
in
terms
of
savings
for
companies
in
terms
of
being
able,
actually,
you
know
like
pool
money
together
and
not
have
one
guy
run
a
great
wall
to
cash
and
then
from
payments.
Obviously,
transactions
I
mean
remittance
all
that
stuff.
It's
just
such
a
like
the
use
case
there.
It's
just
gonna,
be
so
much
hotter
so
anyway.
So
now
we're
talking
about
that
right.
A
C
C
You
know,
I'm,
like
I,
mean
just
to
that
division,
that
list
of
accounts
that
we
have
a
live
soon.
So
the
governance
is
literate
like
we
we're
choosing
and
like
a
list
of
people
that
were
sort
of
known
and
sending
money
to
register
and
there's
no
cheap,
like
there's,
no
charity
involved,
there's
no,
nothing
right,
likes
people
receiving
money
to
rage
the
smartphones
and
then
us
following
up
ensuring
getting
evidence.
And
yes,
this
is
exactly
what's
happening.
C
There's
like
the
fraud
rate
near
zero
right,
like
the
any
fun
big
funds
getting
converted
or
frozen,
or
something
that
can't
even
have
this
literally
impossible
yeah.
So
what
like
is
this
gonna
be
effective?
Well,
that's
great!
Basically,
where
think
I
mean
this
kind
of
scenario.
This
is
kinda
like
the
dream
scenario,
it's
all
about
here
right
where
then
they
start
getting
this
basic
income.
C
Use
that
to
fix
life
right
and
that
logic,
something
like
couldn't
maybe
be
applied
to
something
like
you
know,
people
who
are
on
the
brink
of
starvation
or
something,
but
it
turns
out
that
in
reality,
that's
not
the
case
like
if
you
were
like
unbanked
or
like
underprivileged
and
just
like
in
Krita
like
poor
and
you're,
given
money
like
the
custom,
the
the
the
seriousness
of
your
situation.
When
you
actually
know
that
people
can,
you
know
like
people,
your
situation
could
literally
stop
with.
C
A
C
C
In
fact,
I
think
it
was
less
than
hot
dogs,
but
ninety
seven
percent
of
the
use
that
money
for
that,
the
economic,
economic,
the
optimal
thing
they
can
do,
which
apparently
is
to
buy
a
metal
roof
because
metal
roofs
is
like
a
big
star,
crust
up
front.
But
then,
like
straw,
roofs
are
like
other
types
of
groups.
They
need
to
be
constantly
replace
and
actually
become
a
much
bigger.
C
It's
bent
over
time,
so
so
yeah
I
mean
so
if
we,
if
we,
if
we
do
that,
we
already
are
like
sort
of
you
know,
we're
creating
like
hope
and
like
creating
an
opportunity
that
now
things
can
improve
here
right
and
then
I
mean
the
next
step
is
once
we
already
do
charity
and
aren't
you
already
engaging
here
and
they're
sort
of
doing
it
on
a
very
individual
basis?
Right
but
it's
literally
like
the
maker
Hotline
choosing
these
people
and
personally
directly
giving
them
money
directly.
C
Day
you
know:
here's
here's
like
a
number
of
apps
you
can
use
so
like
I,
don't
like
to
learn
how
to
find
banner
or
kids
work
online
right,
like
I'm
gonna
train
get
a
job
training.
You
know,
training
data
sets
for
AI
saw
something
just
like
you
know.
If
we
have
people
who
actually
motivate
like
human
beings
and
they're
they're
motivated
and
they're,
you
know
they.
They
they're
they're
cheap
area
right
like
where
it
doesn't
really
take
much
to
like
to
actually
see
a
big
change
in
your.
C
Forward,
20
years
in
30
years
from
when
we
initially
start
doing
this
right
like
at
some
point,
we
will
reach
the
break-even
in
in
what
at
this
point,
which
I
would
you
know
think
of
this
becoming
an
economic
zone
right
like
like
a
special
die
economic
zone
where
everyone's
receiving
die
basic
income?
Everything
happens
with
Iran.
It
means
later
like
a
complete
network
created
here
with
you
know
where
it's
just
like
it
like.
Not
only
is
it
improving
there.
C
There
are
opportunities
in
terms
of
hot,
like
the
financial,
the
infrastructure
they
have
access
to,
but
also
it
like
changes.
There
are
just
like
their
worldview
because
being
like
being
in
like
a
true
thy
economy,
is
kind
of
like
being
together
with
a
whole
world
right
like
because
you
have
this
like
new
and
seamless,
you
know
system,
you
live
in,
that's
actually
where
everyone
are
like
fully
connected
right
and
I
mean
eventually,
because
I
mean
just
you
know
like.
C
A
C
I
think
this
is
a
good
I
believe
at
this
point,
I
mean
this
was
like
an
external
all.
You
read
again
right,
I
think.
Basically,
this
has
been
covered
well
for
the
outstanding
arguments.
I
think
mostly,
they
are
related
to
the
internal
argument
right.
Let's
start
the
outstanding
questions
so
yeah,
so.
A
C
A
C
Well
I
mean,
then
we
make
a
new
proposal,
but
in
general,
I
mean
I.
Think
so
so
I
mean
our
thinking
about
this
proposal.
Right
is
that
and
kind
of
the
point
of
this
is
that
we
want
to
show
it
I
mean
we
already
know
that
in
the
community
there
is
just
like
a
very
strong
backing
around
the
team
on
the
foundation
right
like
and
generally
like
a
trust
in
the
in
our
leadership
and
sort
of
our
yeah,
like
I
thought
leadership
on
how
to
to
bootstrap
it
down
like
this
and
so
on.
C
Right,
like
so
I,
like
a
part
of
that,
naturally,
also
is
that
we
we
believe
that
the
community
like
because
we
we
actually
have
been
internally,
convinced
that
you
know
like
the
20%
principle,
is
basically
the
solution
to
one
of
our
fundamental
problems.
The
thread
to
the
columns
right
and
I
think
that,
like
having
the
foundation
was
rejected,
for
whatever
reason
I
mean
that
could
be
the
25th
principle
or
something
else
right.
C
But
ultimately
we
agree
on
certain
fundamental
principles
and
allows
us
to
actually
and
lie
on
almost
everything
and-
and
she
used
something
very
like
achieve
something
very
real
with,
because
we
have
such
a
strong
level
of
alignment.
So,
basically,
one
thing
is
if
the
foundation
proposal
fields
that
is
kind
of
like
I
mean
that's
a
very
strong
signal
to
the
foundation
to
do
stuff.
Like
sort
of
everything
our
you
know,
our
role
in
the
community
and
whether
whether
we
should
you
know
leading,
is
as
strongly
as
we
are,
and
it's
like.
It's
a
shame.
C
C
It
will
result
in
like
the
foundation
for
mandated,
changing
and
and
probably
like
sort
of
reducing
its
role
right
and
essentially,
stepping
back
and
a
just
like
opening
up
for
the
community
to
to
take
over
the
reins
immediately
rather
than
through
this,
like
gradual
process
on
a
more
like,
guided
path
which
ultimately
maker
is
such
a
powerful
system
that
the
community.
If
the
community
is
like
smart
enough
to
control
it,
it
can
fully
achieve
everything
it
wants
to
right,
like
mega,
can
do
stuff
like
funding
anything.
C
It
wants
to
fund
right,
like
not
just
with
the
different
but
like
directly
one
system
like
it
can
use
fees
to
fund
things
like
some
expenses
like
Oracles,
but
also
stuff
like
business
development,
marketing
and
all
this
that's
a
deformation
is
sort
of
taking
on
right
right.
So
that
is
like
a
viable
path
forward
for
maker,
but
it's
I
mean
personally,
it's
not
something
I
think
will
happen
right.
B
C
That
this
situation,
the
position
we're
in
right
now
as
long
as
we
have-
is
extremely
strong
and
sort
of
unified
community
begging
to
what
we
do
means
that
we
are
at
the
you
know
we're
standing
at
the
brink
of
like
really
like
rapid
expansion
and
rabbit
growth
of
the
ecosystem
right
and
like
extreme,
like
very
high
levels
of
success
in
the
in
the
blood
chain.
Spades
right,
so
yeah
I
mean
I,
think
even
for
even
for
people
who,
for
instance,
are
like
very
much
on
the
fence
on
charity.
The
the
you
know
like
can.
A
B
B
C
Two
I
would
like
to
respond
to
on
the
on
the
reddit
post
for
the
last
foundation
meeting,
but
I
will
focus
in
just
one
of
them,
because
I
think
that
one
is
like
very
it's
very
crucial
and
basically
what
it
is
is
like
focusing
on
the
eternal
argument
right.
So
what
is
saying
is
the
twin
is
by
NK
pine.
C
A
C
C
C
And
basically
my
I
mean,
and
also
a
look.
It's
my
birthright,
like
shipping
200km
PR
from
development
purposes
to
charity,
doesn't
directly
impact
the
cost-benefit
analysis
from
pursuing
NPI
appreciation
through
responsible
governance
versus
seeking
short-term
gains
by
voting,
your
own
book
and
and
and
that's
totally
true.
But
the
point
is
actually
not
to
I
mean,
and
we
realized
that
completely
impulse
right.
C
Yes,
you
know
it's
just
not
like
a
pursuit
of
like
it's,
not
a
right
like
a
profit
to
shoot
a
profit
right
like
it
is
primarily
about
stability
and
and
upholding
stability.
It's
not
about
like,
like
and
as
a
result
of
upholding
stability.
Then
getting
payment
like
earning
earning
from
that
right,
but
not
the
other
way
around
because
thinking
at
it
thinking
about
it.
The
other
way
around
just
I
mean
people
absolutely
can
and
will.
C
The
the
cost-benefit
analysis
of
voting
is
just
pretty
much,
no
matter
what
is
in
voting,
basically
like,
no
matter
what
we
do
it's
just
like,
and,
and
it's
particularly
it's,
the
mall.
Everyone
else
are
being
good,
they're,
more
likely
like
clicks,
the
less
like
the
more
advantage
you
get
from
burning
your
own
book
and
the
list
disadvantage
to
get
from
it.
So
it's
a
problem.
We're
always
going
to
deal
with
and
I
mean
like
yeah
like
the
goal
is
not
to
try
to
change
the
cost-benefit
analysis.
C
The
goal
is
to
like
change
the
mind,
fit
mindset
that
a
cost-benefit
analysis
is
how
you
you,
you
should
make
a
decision.
Well,
I
mean,
and
let
me
let
me
clarify
that
saying.
A
monetary
cost
benefit
analysis
right
because
I
mean
Anna
what
I'm
one-upping
sing
a
little
bit
earlier,
but
maybe
a
better
way,
cities
that
the
coin
is
also
do
like
injectors,
and
this
is
well
so
complex-
the
abundance
mentality.
C
Right,
like
inject,
you
know,
there's
additional
notion
of
value
which
is
actually
just
doing
good
right
and
like
if
you
both
take
your
monetary
gains
into
account,
but
also
your
spiritual
gains.
I
guess
you
can
say
right,
like
your
personal
gains,
right,
you're,
just
always
a
hundred
times
better
off
going
with
your
consciousness
and
conscience
right
and
like
voting.
B
C
Like
a
it's
actually
hard
to
find
good
words
explain
this
because,
like
altruism,
for
instance,
is
like
a
word
that
can
have
some
like
sort
of
it.
Just
like
naturally
have
like
a
an
ulterior
sound
to
it
like
you're,
saying,
altruism
and
then
actually
you're.
You
know
you
look
tricking.
Everyone
right
and
yeah
like
wholesome
is
actually
a
great
word,
because
that
sort
of
cannot
possibly
be
like
construed
negative
right.
C
So
yeah
I
mean
it's
about
like
it's
about
like
polls,
I'm
voting
being
the
absolute
absolute
like
choice
and
you'll,
be
you'll,
be
richer
and
you'll,
be
happier
right.
Annual
I
get
to
see
the
impact
you
do
in
the
world
with
your
own
eyes,
either
on
the
blockchain,
because
you
can
like
see
the
transactions
like
go
there
and
you
can
follow
them
around
us.
Their
economy
and
network
builds
up
in
real
time
before
your
eyes
or
you're.
C
Gonna
mean-
and
this
is
be
a
big
part
of
the
whole
chip,
like
all
our
efforts
right
would
be
to
actually
go
ahead,
get
on
the
ground
and
like
show
how
people
using
dying
in
the
real
world.
You
know
people
who
formerly
didn't
have
extra
banks,
maybe
didn't
know
cash
heads
like
trade
with
goats
or
something
suddenly
now
they're
in,
like
the
21st
century,
setting
payments
with
the
phones
right
and
like
your
crowdfunding
sanitation,
upgrades
to
something
to
their
village
or
doing.
B
C
A
path
I'm
like
setting
out
a
path
and
holding
that
path
and
long
run
right
under
and
then
so
that
being
able
for
the
community
to
survive
as
it
grows
and
retain
its
core
principles.
So
so
basically
the
way
we
can
you
know
the
way
you
achieve
through
desensitization
in
the
long
run.
Isn't
just
by
like
decentralization
is
not
the
absence
of
something
it
is
like
decentralization
is
not
the
absence
of
citrusy.
It
is
the
the.
C
Of
decentralization
I
guess
you
can
say
right
like
if
you
take
a
system,
that's
centralized
and
you
remove
the
centralized
element
that
doesn't
mean
it's
now
decentralized.
That
just
means
now
there's
a
power
vacuum
like
now.
There's
like
a
big
thing
missing
and
if
you're
lucky
you
grassroots
community,
will
then
build
up
a
decentralized
infrastructure.
In
that
that's
the
thing
you
know
the
empty
space,
that's
not
variable,
but
if
you're
unlucky
someone
else
will
sweep
in
and
just
take
over
the
role,
and
maybe
those
people
will
not.
C
C
C
So
I
mean
so
our
thinking
is
that
what
we
need
is
this,
like
step
by
step,
approach
right
where,
because
the
prop
like
because
of
a
mental
problem,
the
poverty
right,
the
problem
is
kind
of
that.
If
we,
if
the
committee,
if
there's
just
a
big
empty
space
of
people
who
are
doing
something
for
now,
there
are
many
more
and
the
communities
left
there,
and
they
don't
really
have
the
tool
to
their
knowledge.
To
to
take
over
that
role,
then
I
mean.
How
are
you
gonna
expect
something
supplies
to
grow
out
of
that
right?
C
What
we
have
to
do
is
we
have
to
anytime
the
foundation,
takes
a
step
back
and
sort
of
reduces
its
role,
and
it's
its
guidance
and
and
leadership
in
the
community.
It
has
some
first
spent
considerable
effort
to
to
build
up
the
community
and
make
them
even
just
like
stronger
and
even
bit
like
actually
so
well
equipped,
and
when
they
take
over
this
role,
they
would
say
they
will
do
it
better
than
the
foundation
ever
did.
Do.
C
I,
don't
think
so,
I
mean
I.
Think
the
only
one
is
the
theory.
I
think
you
theorem
is
probably
the
best
example
right
off,
like
I
mean
I
won,
but
that
was
to
a
large
extent
like
instant
decentralization
right,
and
that
was
just
I
mean
that
was
actually
what
we
expected
would
happen
with
maker
originally
and
we
spend,
but
eventually
we
realized
it's.
Just
not.
C
It
just
didn't
happen
like
that
initial
spark,
like
it's
just
like
one
overnight,
Sunday,
there's
a
huge
community
who
all
like
our
set
up
and
and
sort
of
embody
this
decentralized
ecosystem.
So
basically
there's
a
lot
of
examples
of
doing
it
wrong
and
not
any
example
of
doing
it
right
and
most
of
the
doing
it
wrong.
A
sense
I
think
are
really
based
on
this.
Like
power
vacuum
thing
right,
oh,
is.
A
It
I've
seen
layer
to
layer
layer,
two
experiments
fail
almost
immediately.
It
was
obviously
EOS
and
there's
risk
and
the
list
goes
on
and
on
and
on.
So
is
that
one
of
the
reasons
why
it
says
gradual
decentralization
instead
of
immediate
decentralization
like
this
is
gonna,
be
a
process
where
we
figure
it
out
over
the
next
few
years.
Yeah.
C
I
mix
of
the
thinking
is
this
right.
I
mean
it's
about
like
decentralization
is
like
a
point
out
of
the
future
and
it's
like
a
path
to
getting
there
right
and
what
we
want
to
ensure.
Is
that,
like
what,
once
we
get
to
watch
that
moving
towards
that
point
and
like
and
so
get
to
the
point?
I
guess
it's
like
it's
kind
of
like
a
like.
C
You
know
it's
like
a
energy
minima
right,
we're
like
that's
where
you
serve
like
it's
once
you're
in
there
it's
hard
to
like
get
out,
and
it
takes
a
lot
of
energy
to
really
have
something
as
sweet.
Let's
say
something
like
a
theorem
right.
Something
is
true
to
suffice
to
take
that
and
turn
it
into
something
centralized
it's
basically
impossible,
but
but
when,
when
you're
going
there
on
the
path
there,
it's
kind
of
like
that's
when
you're,
especially
in
there
in
the
beginning
right.
C
That's
when
it's
easy
for
you
to
just
rage
in
the
wrong
side,
and
then
the
foundation
will
kind
of
like
do
like
this
right
sort
of
guides,
the
community
on
that
path
and
and
every
like
s.
The
community
gets
stronger
and
better
and
get
close
on
closer
to
the
centralization.
The
foundation
will
sort
of
like
you
know
like
guide,
less
and
less,
but
still
we'll
be
there
as
like
the
sort
of
the
guarantee
that
we
are
still
going
to
what
sees
infestation
and
only
when
it
is
absolutely
guaranteed
that
we
have
achieved
through
disassociation.
C
A
C
So
I
just
want
to
say,
like
I,
mean
that's
three
or
four
or
five
sentences
about
strong
market
focus.
Just
as
now,
we
sort
of
managed
to
come
a
gradual
to
centralization
right
and
just
like,
and
also
the
promise
of
gradual
to
centralization
is
this.
It
will
only
be
steps
to
walk
to
civilization
like
it
will
never
be
a
step
back
and
that's
kind
of
what
the
foundations
will
it
promises
and
also
they
were
all
there
will
always
be.
C
It
will
also
not
be
like
a
stop
and
just
no
steps
unless
it's
literally
like
we're,
seeing
if,
if
we
open
up
more,
the
whole
thing
will
collapse
because
something
right
with
it
like
and
at
that
point
still
that's
not
even
a
justifiable
I
mean
the
foundation
is
never
been,
unlike
hope.
You
know
like
hold
back
and
sort
of
and
stop
the
process
of
decentralization,
but
it
is.
C
We
are
going
to
do
it
slowly
and
carefully
and
gradually
right,
but
always
in
the
right
direction,
so
strong
market
quickest,
the
point
of
that
is
kind
of
like
I
mean
we've
been
talking
about
all
this
charity,
sustainable
blah,
blah
blah.
You
know
like
all
this
like
stuff,
basically
well,
the
thing
is
actually
pretty
much.
All
of
us
are
like
really
hardened
businessmen.
Basically,
who've
been
doing
like
interpreters
or
working
in
big
companies
like
I
mean
and,
and
so
the
head
is
like
business
market
viability.
C
Mindset
right
then
and
kinda
that's
I
mean
that's
another
thing.
We
want
to
really
achieve
right.
It's
like
we
want
to
build
up
like
a
proper
business
in
using
the
foundation
right
like
especially
in
the
sovereign
sort
of
like
ensure
that
maker
is
a
proper
business.
That
makes
sense
in
the
marketplace,
and
we
will
basically
stop
at
nothing
to
achieve
that.
I
mean
it
adoption.
A
success
of
maker
is
more
important
than
anything
else,
except
for
some
extremely
cold
principles.
Right
I
mean
you
will
never.
We
will
never
like
compromise
on
something
like
you
know.
C
It
should
be
decentralized
or
other
like
fundamental
things
right,
but
other
than
that.
We're
not
gonna,
like
you
know,
avoid
doing
something
that
makes
sense
from
a
business
perspective
because
of
some
like
believe
that
we're
better
than
others
like
moral
superiority
or
something
at
me,
especially
in
terms
of
magazine
like
you've,
really
been
holding
back
in
the
past
and
that's
gonna
change.
I
mean
we're
gonna,
be
a
lot
more
like
out
of
facing,
really
be
like
out
there
and
acting
like
a
business.
C
C
It
is
also
just
because
of
identity,
it's
kind
of
because
maker
started
off
as
this
like.
Incredibly
grassroots,
principled
community
right
and
the
foundation
was
the
community
originally
right
and
but
now
when
we
have
stuff
like
that,
when
teams
in
principle-
and
we
have
this
like-
we
have
more
clarity
around
who
we
are
like
what
what
our
core
principles
and
core
like
Sokol
ideals
are.
We
don't
have
to
hold
back
anymore.
You
know
because
there's
nothing
wrong
with
killing
everyone
else
in
the
market,
I
like
and
dominating
all
the
other
stable
points.
C
That's
totally
that's
like
a
noble
thing
to
do
so,
that's
what
we're
gonna
do
and
we're
doing
gonna
do
that,
while
we
also
you
know,
like
save
the
world
with
the
charity
and
sustainable
finance,
you
know
all
that
stuff,
but
fundamentally
right.
We
are
committed
to
sort
of
like
deliver
as
a
as
a
business
to
the
community
right
like
use.
Well
quote,
you
know
traditional
business
strategies
and
tactics
and
like
mindsets
and
only
do
some
Kryptos.
You
know
like
new-age
thinking
and
blockchain.
Can
you
be
internet
age?
C
You
know
stuff
when
we
absolutely
know
that
makes
sense
right,
we're,
never
gonna
do
like
the
kind
of
stuff
or,
like
you
experimental,
like
New
Age
they
like
thinking,
but
for
the
sake
of
doing
it,
because
we
had
you
know
because
this
is
it
goes
back
to
like
the
identity
of
who
we
are
right.
We
are,
we
are,
you
know
we
like
charity.
We
like
these
inverse
ation,
and
then
we
like
success
and
we're
going
to
achieve
that
right
and
that's
what
that's
kind
of
like
the
function
of
the
foundation.
Yes,.
A
Well,
success
is
good
and
I
think
that
most
maker
holders
will
agree
with
you.
There
I
think
that
there's
a
pile
of
things,
I'm,
really
I,
really
wanna
start
digging
into
sustainable
finance
and
gradual
decentralization
as
specifically,
because
I
think
that
there's
a
lot
of
content
there's.
So
it
might
be
a
good
place
to
sort
of
stop
today
and
we'll
pick
up
next
week
straight
off
with
sustainable
finance
and
the
market
focus
stuff.
I
think
that
we're
really
interested
in
in
digging
into
as
well,
but
we're
five
minutes
over
the
hour.