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      "author": "steemitboard",
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      "body": "Congratulations @akhavr! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@akhavr/birthday3.png</td><td>Happy Birthday! - You are on the Steem blockchain for 3 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@akhavr) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=akhavr)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "title": "Governance in distributed organizations, part 4",
      "body": "In previous parts ([1](https://steemit.com/blockchain/@akhavr/governance-in-distributed-organizations-part-1), [2](https://steemit.com/blockchain/@akhavr/governance-in-distributed-organizations-part-2), [3](https://steemit.com/ethereum/@akhavr/governance-in-distributed-organizations-part-3)) I’ve explored the need for creating distributed decentralized organizations, walked through fundamental internal problems of centralized organizations, and gave a brief overview of existing governance approaches in blockchain projects.\n\nHere, I will outline a suggested system, that I’m working out, that’s designed to keep simplicity and clarity of Dash DAO while (hopefully) answering the challenges.\n\n# Outline of suggested system\n\nIn [previous part](https://steemit.com/ethereum/@akhavr/governance-in-distributed-organizations-part-3) I’ve finished by describing the challenges of Dash DAO and difficulties to rapidly experiment with it, because it’s (1) hard-coded in the consensus protocol and (2) is serving a $1bln plus ecosystem.\n\nSo, why not combine Dash treasury and governance system with smart contracts? Let’s do it…\n\nMost popular prototyping choice for smart contracts now is the Ethereum network.\n\nFirst of all, we need some base asset. Since Dash treasury is build from PoW inflation, we can’t use standard ERC20 token with fixed supply.\n\n![](https://cdn.steemitimages.com/DQmeM17DxFnKKe9Gd53tdVdiMkfRrUjKsrYSaDCQZomaoqb/image.png)\n\nLet’s take instead simple [PoS token](https://github.com/PoSToken/PoSToken) instead, and modify it, so some part of PoS seigniorage would be withheld for the Treasury.\n\nThe Treasury would be a separate smart contract, that would store ipfs hash of the proposal, amount requested, proposal funding address, and collect an antispam submission fee.\n\nTo reduce populism we can require only people, who hold necessary amount of base token, to participate in voting.\n\nFinally, Bancor-style exchange smart contract would bring liquidity to our base asset.\n\nThis way we would mimic Dash governance system on the Ethereum blockchain.\n\n# Obvious improvements\n\nBy reimplementing it on the Ethereum blockchain, we get much more flexibility, than it is present in Dash. It’s because we can pay to a smart contract, not just an externally owned account.\n\nFirst of all, it’s easy to replicate TheDAO requirement of the project bond: target smart contract should hold necessary amount of our base token and, in case of failure to complete the project successfully, they would be either burned or sent to Treasury.\n\nNext, we would need some way to determine if the project was successful and on time, or not. For simple projects we can encode those conditions into the project smart contract, but in general it won’t be possible, so we’d have to rely on human judgement, and ask voters to determine if they are satisfied with the result.\n\nTo increase voting participation, we can tune holder’s PoS seigniorage profit depending on his participation in voting process.\n\nAlso we can experiment with different forms of liquid democracy. Or introduce collateral lockup to increase voting power.\n\nTo mitigate the risk of dumping the base asset, Treasury can send them to another Bancor-style smart contract that would pair our base PoS token with the proposal token, introducing early liquidity to the proposed project participants and market feedback via proposal token price.\n\nFinally, the Treasury can find a similar smart contract, thus effectively creating a subDAO focused on a specific goal, e.g. marketing. The subDAO can be long-lived, with it’s own governance structure, and may create more specific subprojects as necessary. Holders of base token aren’t required to deal with minutiae and specifics of the subprojects, while people in the field aren’t required (but still are able) to influence high-level matters.\n\n![](https://cdn.steemitimages.com/DQmdcY1CnKbmZHzinmCUcbXuoYYEvymq16V9D6PAuQkvu9c/image.png)\n\nSumming it up. Using proposed Treasury structure, we can create a flexible on-chain governance system that can be as small or as big as necessary.\n\nBig problems could be attacked by issuing a Business Problem Statements and have several proposals to compete for the success fee in solving them, at the same time. Those proposal can be short- or long-lived, as necessary, and can get market feedback by issuing their own tokens.\n\nSince proposal voting happens on-chain, the governance can be as public or private as necessary, while staying censorship resistant.\n\n# Forthcoming Implementation on Ethereum\n\nWhile various game theoretical aspects of this proposal are still to be explored, I’m going to implement a prototype of this governance system on the Ethereum at [https://github.com/akhavr/Recursive](https://github.com/akhavr/Recursive). First working version of this governance system would be used in my [DevNullAI](https://devnull.ai/) project.",
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      "title": "Governance in distributed organizations, part 3.",
      "body": "In [the second part](https://steemit.com/blockchain/@akhavr/governance-in-distributed-organizations-part-2) I’ve walked through fundamental internal problems with centralized organizations and tried to show how organizations learned to grow in highly uncertain environment. If you’re looking for the first part, you may [find it here](https://steemit.com/blockchain/@akhavr/governance-in-distributed-organizations-part-1).\n\nIn third part, I’ll take a look on few of existing implementations of governance in blockchain systems.\n\n# Designing governance systems\n\nGovernance systems in blockchain projects are hot topics. They are varieties of them, of different design, cost, and efforts required to participate in them\n\nAs I’ve [said on twitter](https://twitter.com/akhavr/status/1031184123036164096), as a byproduct of another discussion:\n\n> When designing governance systems (at least in crypto), you’d better start with 3 questions:\n> 1. What voter losses in case of a bad decision or a conscious attack?\n> 2. What voter pays/contributes in exchange for the voting right?\n> 3. Who has the right to vote and why?\n\nLet’s see how few governance systems in cryptocurrencies worked out..\n\n# Failed examples: TheDAO\n\n![Image source: https://www.coindesk.com/the-dao-just-raised-50-million-but-what-is-it/](https://cdn.steemitimages.com/DQmdSg2ENq1fNX697PF6xW1sfNnNqBFskB81Sebgqbw8BMY/image.png)\n\n[The DAO](https://en.wikipedia.org/wiki/The_DAO_%28organization%29) was a digital decentralized autonomous organization, created in 2016 to mimic a venture fund on an Ethereum network. It a crowdsale it collected about $150mln worth of Ether (at May 2016 price) which was about 14% of all existing Ether tokens at the moment (12.7 mln ETH).\n\nFor several short weeks it seemed that the Holy Grail was found and future organizations would mimic TheDAO structure. Yet, in June 17, 2016, TheDAO smart contract was a subject of an attack, which siphoned about one third of the collected ETH, in violation of the spirit of the project (but strictly adhering to the compiled code).\n\nWhat would happen if there would be no bug, or at least it won’t be discovered as fast? Would be TheDAO a successful example? Nobody now knows for sure, but for the short period TheDAO was alive, it collected enough criticism, besides code quality:\n\n* The status of curators wasn’t quite clear\n* The initial choice of curators wasn’t quite clear\n* The process of whitelisting of proposals had to be yet figured out\n* Various game-theoretical properties of splitting off TheDAO weren’t explored (and the attacker finally used exactly this feature to drain the funds)\n\nAlso, [Dan Larimer pointed](https://steemit.com/crypto-news/@dan/is-the-dao-going-to-be-doa#comments) to other social problems that TheDAO had might face later:\n\n* Low voting participation\n* Proxy for proxy voting is performed on cultural (party/philosophical/like/dislike) lines, not on objective merits\nReliance on the price of the underlying asset (ETH)\n* Anti-spending movement: big proposals would sell the ETH, dumping the price and increasing the volatility.\n* Voting coalitions\n* Non-voters would be rewarded with minimal risks, voters can’t split out.\n\nFor sure, it would have been fixed with time, but the time it had not.\n\n# False examples: ICO’s\n\n![Image source: https://thenextweb.com/contributors/2017/11/15/5-tips-help-successfully-market-ico/](https://cdn.steemitimages.com/DQmNewLTfY7gwTpfWYxbGgrpbyhoKXXiZCRDiUnxifc6UWN/image.png)\n\nWhat TheDAO did do, is to create a tested roadmaps for various Initial Coin Offerings, ICO’s. In 2016 and, of course, in 2017, lots of blockchain (and not only) projects rushed to use this crowdfunding method to raise the funds.\n\nInvesting into ICO’s was a crazy gold rush in 2017, with all them collectively raising north of US$6bln.\n\nYet, most, if not all ICO projects lacked the major point of TheDAO: they were centralized with all problems and risks associated with having a single point of control.\n\nThus, when SEC issued its [“The DAO report”](https://www.sec.gov/news/press-release/2017-131) in July 25, 2017, it was a cold shower for the market. And SEC’s subpoenas killed retail crowdfunding.\n\nIn 2018, to date (early Sep), all ICO’s collectively raised more than in 2017 ([$6.9bln](https://www.icodata.io/stats/2018) vs [$6.1bln](https://www.icodata.io/stats/2017)), but most of those funds were coming from big players (VC, hedge funds, family funds) and not from retail Joe Doe. And on month-by-month scale, the amount raised is declining.\n\n# Kinda success: Dash DAO\n\n![Image source: https://www.dashforcenews.com/dash-dao-future-might-look-like/](https://cdn.steemitimages.com/DQmRkfJLt5wW1AqeUNDxccywkijPqzuWy2KZe2e33d6C5DV/image.png)\n\nThere’s another example of the DAO (lowercase “the”): the one of the [Dash](https://dash.org/) cryptocurrency.\n\nYou may find more detailed explanation [here](https://www.dashforcenews.com/what-is-a-dao/) and [here](https://www.dashforcenews.com/dash-first-dao/) , so I’d put just an overview.\n\nDash network recognizes that there are several participants in a successful blockchain:\n\n* PoW miners, who supply security to the network\n* Collateralized MasterNodes, who store the full copy of the blockchain and run second layer of the service\n* Others, who are impossible to qualify on the protocol level, but human judgement would be able to sort them out.\n\nTherefore, Dash network directs up to 10% of the block reward to the Treasury. Interested parties may submit human-readable proposals to the Treasury and MasterNode owners, who hold a significant collateral in Dash) vote for those proposals. Proposals, that had the majority of Yes votes, are given _grants_ in order of decreasing Yes/No votes difference, until Treasury for this period won’t be completely used. Periods are approximately one month in length. Unspent, unclaimed funds aren’t created.\n\nGrants can be one-time or multi-month. In the later case, MN owners can change their mind and downvote the project, so it won’t receive more funds from the Treasury.\n\nSo far it works pretty successfully, it wasn’t hacked, and it funded many projects around the world, yet…\n\n* Grants are _grants_, not a loan, or investment, or any other commercial interest. The only thing that precludes the proposal owner from running away with funds, is his reputation.\n* Dash Treasury is single layer system and, since Dash doesn’t support any 2nd level tokens yet, it could not be scaled in obvious ways.\n\nBoth of those caused misuse of funds (some may call them even exit scams) and difficulties in scaling the proposal system to support many tiny activities.\n\nIn the upcoming part I will outline a suggested system, that I’m working out, that’s designed to keep simplicity and clarity of Dash DAO while (hopefully) answering the challenges.",
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      "title": "Governance in distributed organizations, part 2",
      "body": "In the previous part I’ve explored briefly why censorship resistance in organizations is important. Here I’ll walk through fundamental internal problems with centralized organizations and show how organizations learned to grow in highly uncertain environment.\n\n# What’s an organization?\nWikipedia defines organization as following\n\n> An organization or organisation is an entity comprising multiple people, such as an institution or an association, that has a collective goal and is linked to an external environment\n> https://en.wikipedia.org/wiki/Organization\n\nHere I will use organization to reference a set of people and relations between then created or grown up around a particular goal in a real world.\n\n# So, why distributed, again?\nPeople create organizations for thousands of years. More, the whole history of our civilization is a history of organizations.\n\n![Image source: WikiCommons https://commons.wikimedia.org/wiki/File:Detroit_Renaissance-Center.jpg](https://cdn.steemitimages.com/DQmRLwLcNRF1stGBcQoUZnHaii5GJhdHindRiKoWYTFAodY/image.png)\n\nDue to limitations of communication technologies most of organisations were centralized: they had a person or a cohort of persons collecting information from bottom-up and feeding instructions back to the bottom. This type of organization was more likely to survive for the history, because it allowed different people to specialize: those who were at the top of the information pyramid could specialize in analysis and making decisions, those, at the bottom, in collecting basic info and executing orders, and those between them — in transmitting information and orders, summarizing info, and making sure that the instructions were executed properly.\n\nOrganizations of other forms either failed the competition, or morphed into one or several centralized ones.\n\nThe reasons of such evolution were described in famous “[The Nature of the Firm](https://en.wikipedia.org/wiki/The_Nature_of_the_Firm)” by Ronald Coase and culminated in the form of classic US Corporation, like GM under Alfred Sloan management, as described by Peter Druker in “[Concept of the Corporation](https://en.wikipedia.org/wiki/Concept_of_the_Corporation)”.\n\nCentralized organizations are great. \n\nUntil they aren’t.\n\nCentralized orgs prone to problems:\n\n* Resistance to change and adapt\n* Politics driven\n* Driven by internal goals, ignoring the original purpose they were created for\n\nIn other words, it might be relatively easy to create a successful corporation. Yet it’s close to impossible to keep it successful beyond a certain size and this becomes more and more obvious as the pace of change grows.\n\nThose roadblocks could be summarized in two problems: The Principal-Agent problem and Hayek’s Local Knowledge problem:\n\nThe Principal Agent Problem occurs when one person (the agent) is allowed to make decisions on behalf of another person (the principal). In this situation, there are issues of moral hazard and conflicts of interest. See more at [https://www.intelligenteconomist.com/principal-agent-problem/](https://www.intelligenteconomist.com/principal-agent-problem/)\n\n![Image source: https://www.economicshelp.org/blog/26604/economics/principal-agent-problem/](https://cdn.steemitimages.com/DQmd1R2FyKmNhXdY9cnZXgY7ybd7EpkHPdRX8eg4KAHKe8B/image.png)\n\nHayek’s Local Knowledge problem is related to the fact, that in the real world, information is dispersed, incomplete, and frequently contradictory. (https://blog.elidourado.com/the-use-of-knowledge-in-society-cd908cbfef8a)\n\n![Image source: https://en.wikiquote.org/wiki/Friedrich_Hayek#/media/File:Hayek.jpg](https://cdn.steemitimages.com/DQmbjq2RWZZbE4ZAYBdu5Hy4ReFZgYXCrfTKrn6BvkCDhhn/image.png)\n\nOn the other hand, [Naval Ravikant tweeted recently](https://twitter.com/naval/status/1036514145988894720)\n\n> Scaling a company via code and contracts instead of via people mitigates the Principal-Agent problem.\n> Scaling via community-generated code and content mitigates Hayek’s Local Knowledge problem.\n\nLet’s use this tweet as a hint. But first, some background.\n\n# What’s a difference between a startup and an established organization\n\n![Image source: http://blogs.reuters.com/small-business/files/2012/10/steve_blank_book.jpg](https://cdn.steemitimages.com/DQmRAkLRNCfdGvLjbLyRLsa9usR1ybYGswB1TY8fAQLcB2M/image.png)\n\n[Since late 50s](https://en.wikipedia.org/wiki/Fairchild_Semiconductor#1950s) more and more innovation happens outside of classic corporations, but in startups. Now this practice is so widely accepted, so people “by default” consider that innovation happens just in startups.\n\nWhat’s a startup anyway?\n\n> A startup is an organization formed to search for a repeatable and scalable business model.\n> Steve Blank https://steveblank.com/2010/01/25/whats-a-startup-first-principles/\n\nIn other words, startups are extremely unstable because of non-proved business model. This makes them more connected to the reality and less susceptible to the plagues of BigCorp.\n\nBut here’s another issue: successful startup, by its own nature, has to grow to an established corporation, triggering two problems, mentioned above. And unsuccessful startups die.\n\nAnd frequently they die because they develop the solution for the problem that nobody has.\n\n![Image source: http://birch.co/post/4987768109/user-perspective-and-problem-statements](https://cdn.steemitimages.com/DQmdWHPv3cDHJXB6DTvmHr2oNHff7o7yz1CFNpSNV8pw2WK/image.png)\n\n# Building a startup in a lean fashion\n\nMeet Lean Startup:\n\n> Lean startup is a methodology for developing businesses and products, which aims to shorten product development cycles by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and [validated learning](https://en.wikipedia.org/wiki/Validated_learning). The central hypothesis of the lean startup methodology is that if startup companies invest their time into iteratively building products or services to meet the needs of early customers, they can reduce the market risks and sidestep the need for large amounts of initial project funding and expensive product launches and failures.\n> Wikipedia https://en.wikipedia.org/wiki/Lean_startup\n\nIn particular, concepts of [Actionable metrics](https://en.wikipedia.org/wiki/Lean_startup#Actionable_metrics), [Innovation Accounting](https://en.wikipedia.org/wiki/Lean_startup#Innovation_accounting), and [Build-Measure-Learn](https://en.wikipedia.org/wiki/Lean_startup#Build-Measure-Learn) cycle allow to focus organization of what’s actually important, instead of internal politics around vanity metrics.\n\n![Image source: https://innovationsincubator.com/events/lean-startup/lean-startup-2/](https://cdn.steemitimages.com/DQmXyMnocGLsMsMCGt9EYW3MpmGYnfcv4qbaH9wg1dFiwNB/image.png)\n\nYet, it’s still hard to create a culture of experimentation and continuous learning beyond certain size. This is because of the accepted style of running business: org leaders set goals, management splits them into specifications or requirements documents, assign budgets and deadlines, and push them to implementation teams. Little left for an information feedback loop, and even when it’s created, it requires energy to keep it alive and objective.\n\nBut when goals are changed from objectives, specifying a solution required, to [Business Problem Statements](https://medium.com/@leanstartup/framing-the-work-to-encourage-experimentation-2b9c38cf23ec), asking a question to be answered, things may change.\n\n> A business problem statement is made up of three parts:\n> 1. The original goals for the product/service/system.\n> 2. The problem the business has identified that requires some attention and the impact that this issue is having on the business, along with any data, insight, and other corroboration.\n> 3. A specific request for improvement stated as a change in customer behavior (not as a set of features)\n> [https://medium.com/@leanstartup/framing-the-work-to-encourage-experimentation-2b9c38cf23ec](https://medium.com/@leanstartup/framing-the-work-to-encourage-experimentation-2b9c38cf23ec)\n\n![](https://cdn.steemitimages.com/DQmU3WCAg3wYW18bvdoSACoPD8RSA8wVHrGbChMayfBfuAo/image.png)\nThe lengthy quote below describes why BPS are important:\n\n> Three components of the problem statement articulated in the template — the original intent for the product, the problem we’ve observed, and how we’ll measure success. Note that there is no room in the template for specific feature requests and this is intentional. The Business Problem Statement is a question, not an answer. A problem, not a solution. Teams should create hypotheses about what the best solutions might be for this problem and then use build/measure/learn loops to discover which ideas work and which ones don’t.\n> When work is framed this way, teams don’t have a set of features to build and ship. In fact, they have no idea which combination of product, service, features, design, copy, and code will achieve the stated outcomes. They have to discover these answers. The only way to do that is to experiment. It’s incredibly risky for a team to simply choose a direction and spend the entirety of their project’s timeline in that one direction without validating that this is the direction that will yield the desired change in customer behavior.\n> Teams brainstorm their best ideas and begin to run experiments, build MVPs, and collect qualitative and quantitative feedback on these early ideas. Over time, the better ideas emerge and the team can continue to build/measure/learn their way to a great solution. Since teams are being asked to solve problems rather than ship features, they are not under pressure to hit specific deadlines. Of course, we encourage teams to discover solutions by shipping code, and in doing so, hope that it won’t be long before great, evidence-driven solutions make it into customers’ hands.\n\n# Lean startup turns distributed\n\nFinally, note that the Build-Measure-Learn loop in the process of answering a BPS is similar to a “master loop” in a startup itself. This is great, because it allows to treat team, working on the BPS, as a lean startup organization itself.\n\nAlso it removes the requirement to have the entire startup team collocated. Or even having a single team working on any particular BPS: it’s common to accept that there should be several startups approaching any particular market, why not treat BPS as a market and have several teams to compete for better solution?\n\n![](https://cdn.steemitimages.com/DQmRqihFsdN3QRrXsVKXDJmdA31ihmbrf4Xqse8LKjm8ovL/image.png)\n\nOf course, that idea requires to find a way to properly compensate teams, both compensating for unsuccessful effort and rewarding the winners.\n\nGladly, market mechanics can help with this, as I will show in the following chapters. In usual corporate setup it’s either difficult or suboptimal to run such markets, but here come cryptocurrencies.",
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      "body": "![Source: http://prezi.com/ryhh0aarm3up/](https://cdn.steemitimages.com/DQmXQxkdHE7qfsTVt3pA7sqDMv8pHDDoYG8wbQrt5ciWRdn/image.png)\n\n[@giacomozucco](https://twitter.com/giacomozucco) in his [“The ICO Trilemma”](https://prezi.com/ryhh0aarm3up/ico-triangle/) presentation pointed to the incapability of current management frameworks to successfully grow organizations that would be distributed censorship resistant organizations that would be able to enforce complex behaviors.\n\nIn particular, he made an assumption that the organization has to be completely centralized and, thus, easy to censor.\n\nI’m going to challenge this assumption.\n\n# Why distributed?\n\nSo far most of management techniques haven’t used much of the Internet capabilities. They still deeply relied on the presupposition that information distribution is slow and unreliable, thus most of peoples within an organization should be collocated in “an office”. Internet is there for 25+ years, but most orgs still deeply rooted in this belief.\n\nThis centralization of control makes them very brittle, especially with regards to the regulatory action.\n\n![Source: https://www.eff.org/issues/shadow-regulation](https://cdn.steemitimages.com/DQmd1V5ZgYgEu3WbUJ6SEySnWHDYtaYkeDdXLeruxBhz9uw/image.png)\n\nThe idea of “regulation” seems quite attractive, but it’s broken by design, since “regulation” could be done only by prohibiting, censoring out some possible actions of an agent. And if this agent has to obey, then it loses it’s free will and becomes subordinate to the regulator. A positive feedback loop is created: the regulation grows indefinitely until the whole system halts and dies.\n\nIf you’re still in doubt — check what ShapeShift had to announce recently.\n\nSo, to build effective organizations, we have to build them in a censorship resistant fashion.\n\nYet, despite the progress in censorship resistant technologies, they still have difficult time in enforcing complex behaviours that could not be specified at the design time.\n\nThis brings up governance problem: how organization stakeholders can coordinate their actions for their common benefit, in a censorship resistant fashion, which I will explore in forthcoming parts.",
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      "body": "![](https://cdn.steemitimages.com/DQmRtdEaUNFBq5W3BwMdKfn27LFifpi6JiuZ7VVywBL7FWe/image.png)\n1. Bitcoin with PoW and Nakamoto consensus is the first censorship resistant form of money.\n2. Yet, money is useful only as far as you can spend it on something useful.\n3. Most of the useful things in the world are sold currently only for fiat money.\n4. Fiat money is controlled by state that have exactly zero or even less interest in promoting censorship resistant money.\n5. Thus state agencies are intrinsically motivated to perform Choke Point operations on any on- and off-ramps from fiat to crypto. See https://en.wikipedia.org/wiki/Operation_Choke_Point for details.\n6. For the same reason, state agencies are motivated to spread FUD about crypto, increase exchange rate volatility, and introduce naked speculation instruments (e.g. cash-settled ETFs)\n1. This cannot be solved by a mere promotion of cryptocurrencies. Someone has to provide a high-demand scalable product or service.\n1. Yet, most business and business models require significant input in form of resources and/or services, which brings on/off ramp choke points vulnerability back again.\n1. Thus we need online native services sold only for crypto.\n1. But low margin online-native services (e.g. hosting) won't be enough since any possible savings due to crypto can be easily blocked by increased complexities of getting into crypto.\n1. This plagues most ICO products and services: they can't offer service with sufficiently high margin to do a tenfold overkill for the problems of getting into crypto.\n1. Thus, to convert people to use censorship resistant money, we have to offer a scalable, high margin, popular, and defensible service that would be available only for crypto.\n1. \"Software is eating the world\" Marc Andreessen said. But outsourced software development services usually are considered low margin high body count businesses. Only if you'd be able to replace or augment humans, you'd be able to create it in a scalable way.\n1. For the last 2 years, I've been working on [DevNull.AI](https://devnull.ai) project to achieve this goal in practice.\n1. This post marks the end of the stealth period and announces the availability of a clear roadmap to the AI, developing software, that would help and even replace junior developers in teams.\n1. To achieve censorship resistance, it would run on [Pandora Boxchain](https://pandoraboxchain.ai/) with some custom juice.\n\nOriginally that was a tweetstorm at https://twitter.com/akhavr/status/1031448291039477760",
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      "title": "10 step go-to-market strategy for racketeer startup",
      "body": "1. Get influence over local media.  Preferably control it.\n2. Dominate with some obvious message, like \"Bad beer is bad for your health\".  Provide examples.  If none - create them.\n3. When everyone agrees, push \"Let's institute quality control over the beer in bars!\".  \n4. Send local agents to get acquainted with people, running and serving in bars.  Be smooth and friendly.  Collect info, identify black sheep: bad bars with bad beer and owners would confront you.\n5. Via media institute yourself as the only acceptable quality control.  Marketing message: \"Bar without our stamp of approval is bad for your health\".\n6. Offer quality control for bars.  Be careful with pricing or do it for free.  Check which black sheep are refusing to pay.\n7. After you're set in the \"market\" - raise prices.\n8.Violently crash and kill one or two of black sheep: they are serving bad beer anyway!\n9. Lower the prices and settle with other bars who refused to pay earlier.\n10. Profit!\n\nEpilogue.  Absolutely not related to http://www.businessinsider.com/sec-is-charging-centra-crypto-founders-with-fraud-2018-4",
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      "title": "After Action Review as metalearning",
      "body": ">  Meta learning is originally described by Donald B. Maudsley (1979) as \"the process by which learners become aware of and increasingly in control of habits of perception, inquiry, learning, and growth that they have internalized\".\n\nSource: https://en.wikipedia.org/wiki/Meta_learning\n\n## Problem\n\nSay, you are working on a project.  For clarity, let it be you alone, using Trello and very simple Kanban-style board with Ideas/Pending/Doing/Review/Done collums.\n\nYour project may go so-so, or even great, but you feel that you can do more, but you don't know how.\n\n## Principles\n\n1. You can't improve what you can't measure\n2. If \"the best\" process even exists, it's a moving target.\n3. Focus on improving \"here and now\" instead of \"chasing the ideal\"\n4. You have some process of dealing with Trello cards.  It might be documented, or not.  You may follow the documented one, or not.  But there's one.\n\n## AAR as a solution\n\nFor those of you, with math background, the process is very similar to the simple gradient descent.\n\nThe process is very simple.\n\nSay, you want small daily improvements.\n\nSo, at the beginning of the day, you set a daily goal.  Goal should be [well-formed](http://psychology.wikia.com/wiki/Well-formed_outcome) or [SMART](https://en.wikipedia.org/wiki/SMART_criteria).   The simplest case would be something like \"move card A from column Doing into column Review\".\n\nPlease, do it in writing, so you won't fool yourself by the end of the day.\n\nAt the end of the day, you conduct simple excersise by answering 4 questions:\n\n1. What was the goal?\nIt's simple, since you have it written.\n\n2. What's the actual result?\nIt's simple again, because you have your Trello board on your screen and card A either changed the column or not.\n\n3. What's the difference and why?\nThis seems obvious but is usually tricky.  If you've not achieved one of your goals, it's useful to consider that you've (a) lacked some scaleable resource or (b) your processes are underdefined or wrong. [5 Why's](https://en.wikipedia.org/wiki/5_Whys) is a usefull routine to discover a root cause.\n\nRemember, that the discovery should not be ideal.  It's just enough to provide guidance towards the next step: the actionable decision.\n\n4. What actionable decisions I can make?\nThe key word here is [_actionable_](http://www.yourdictionary.com/actionable): _Capable of being put into practice_. In the context of this process this means a decision, that you either can implement right away (describe or detail your written process) or can set a well-formed SMART goal for the next day.\n\n## Conclusion\n\nAfter action review is very simply yet astonishingly effective technique if you use it regularly.\n\nJust remember that it doesn't tell you _what_ to do.  It's a meta-learning tool: it help you to learn _how_ to do what you're wanting to achieve.",
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      "title": "Constructing ERC20 token that would violate Howey test yet would protect investor more than regulator does. Part 2. \"Regular\" investor protection.",
      "body": "![Investor protection](https://steemitimages.com/DQmZQNtMj7wYA1zDs3RB5w4zgmAi9XjuLdqxnqBQqhTsk4P/image.png)\n\nSince writing previous article I've tried to research what exact protection does regular markets offer.  So far I wasn't excited.\n\nThey operate on several premises:\n\n1. Identities of all participats are known\n2. You can litigate against other party\n3. You can sustain litigation\n\nWithin the corporation structure itself there are no special means to influence the funds usage.  All you can do is to:\n\n1. Have some information rights.  Sometimes.\n2. Vote for Directors that sometimes have some influence on the Board of Directors.\n\nWould be great to know that I'm wrong.  Please, share some insight in comments.\n\nOriginal is posted here: https://akhavr.github.io/ERC20-Investor-Protection/",
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      "title": "Magna Meta.",
      "body": "![Meta](http://www.magnagraecia.nl/coins/Lucania_map/Metapontion_map/jpgs/MetaJB2.0-7.80.jpg)\n\nPersonal freedom is possible only when you have a self-sustainable household.\nUnfortunately, in current tightly integrated society it's unfeasible.\n\nTo achieve this, one have to have facilities for\n\n* house construction and repair\n* energy generation and storage\n* water\n* food growth, preparation, and storage\n* transportation\n* connectivity/internet\n* governance\n* security\n\nThis would be unavailable without heavy automation, far beyond current levels.\n\nSuch levels of automation requires two major advances:\n\n* extensive tooling and sensoring\n* software to operate it\n\nFirst one is \"almost here\", but limited by software that would power it.\n\nSince tasks are too different, there's little hope that humans will be able\nto create and maintain the production level software, necessary to run it.\n\nThus, we need to create heavy AI capable of deep search of solution tree and\ncapacity to generalize the sequences of simple actions.\n\nThe first target we're attacking, is the software development itself:\nthe task of translation of vague real-world requirements into an executable\nsequences of keystrokes.\n\nThe problem solving engine, that would be created as an output of this project,\nwould be reused later in the environments that are more tightly connected\nto the observable reality.",
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      "title": "Constructing ERC20 token that would violate Howey test yet would protect investor more than regulator does. Part 1: Security.",
      "body": "## Motivation\n\nMoney was monopolised by state for more than 100 years now.  Every attempt to issue private money was prosecuted, usually changing the law as it suited those, in power. \n\nCryptocurrencies provide the safe haven from regulation attempts since 2009.\n\nMuch of progress for last 400 years can be attributed to a single organizational invention: the corporation.\n\n> A corporation is a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.\n> …\n> Registered corporations have legal personality and are owned by shareholders whose liability is generally limited to their investment. Shareholders do not typically actively manage a corporation; shareholders instead elect or appoint a board of directors to control the corporation in a fiduciary capacity. In most circumstances, a shareholder may also serve as a director or officer of a corporation.\n> [https://en.wikipedia.org/wiki/Corporation](https://en.wikipedia.org/wiki/Corporation)\n\nIt was perfected even more by opening the investment opportunity for wider and wider audience.  I’d guess,much of the US development in 19th century was due to pooling of capital into new ventures, making more experimentation possible and, thus, creating more wealth, and more possibilities to invest.\n\nYet, that window of opportunity was closed to the general public by The Securities Act of 1933, which limited the opportunity for early stage investment just to a tiny slim of already wealthy people.\n\nThe introduction of Ethereum platform and the ERC20 token standard resulted in proliferation of ICO’s. ICO opened the opportunity to participate in a high risk, high return early stage investing,for everyone able to launch an Ethereum wallet.\n\nStill, the state wants to protect its monopoly power and pushes the regulation forward.  The most recent prominent example is _SEC’s Report of Investigation Pursuant to Section 21(a) of the Securities Exchange Act of 1934: The DAO_ ([https://www.sec.gov/litigation/investreport/34-81207.pdf](https://www.sec.gov/litigation/investreport/34-81207.pdf))\n\nIn this series of posts I’d show\n\n- How to easy is to construct a token, that would be a security\n- How to add investor protection at least on the same level as a regulated security provides\n- That regulation, prohibiting the issuing securities on smart contracts, doesn’t provide any additional investor protection, but only limits the high-risk high-return investment opportunities to the wealthy.\n\n\n## Howey test\n\n> 2. For purposes of the Securities Act, an investment contract (undefined by the Act) means a contract, transaction, or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party\n> [https://supreme.justia.com/cases/federal/us/328/293/case.html](https://supreme.justia.com/cases/federal/us/328/293/case.html)\n\nOk, I’m not a lawyer, I’m just a mere software developer, so let me get a checklist for this:\n\n> Under the Howey Test, a transaction is a security (or investment contract) if:\n> \n> - It is an investment of money\n> - There is an expectation of profits from the investment\n> - The investment of money is in a common enterprise\n> - Any profit comes from the efforts of a promoter or third party\n> \n> [https://hackernoon.com/did-the-sec-just-throw-away-the-howey-test-df56784b0f38](https://hackernoon.com/did-the-sec-just-throw-away-the-howey-test-df56784b0f38)\n\nLet’s take it step by step.\n\n## It is an investment of money\n\nBy using a [fairly standart construct](https://github.com/OpenZeppelin/zeppelin-solidity/blob/5aba967db9bbff2089c1dcc855d9d5e83b293389/contracts/crowdsale/Crowdsale.sol#L64) we’re creating a `Token/Crowdsale` that’s exactly “an investment of money” \n\n## There’s an expectation of profits from the investment\n\nThis expectation is usually set in a whitepaper or another form of promotional material.  Even if the authors claim that there should be no expectation of profits, contributors usually expect to resell the token at a higher value.\n\nIn any case, we can explicitly violate it by allowing token to pay dividends.  For example, we can reuse this code [https://medium.com/@weka/dividend-bearing-tokens-on-ethereum-42d01c710657](https://medium.com/@weka/dividend-bearing-tokens-on-ethereum-42d01c710657)\n\n## The investment of money is in a common enterprise\n\nCheck this analysis of SEC report\n\n> **“Common enterprise” is a simple inquiry when funds are pooled** – The SEC did not even separately discuss this element. It just asserted there was a common enterprise and observed in passing that investor funds were pooled to fund projects.\n> [https://www.lexology.com/library/detail.aspx?g=3ea81ec0-bfdb-4dca-ac24-0a306cd63c99](https://www.lexology.com/library/detail.aspx?g=3ea81ec0-bfdb-4dca-ac24-0a306cd63c99)\n\nEnough said.\n\n## Any profit comes from the efforts of a promoter or third party\n\nSee another definition of a common enterprise:\n\n> In the context of an investment contract, a “common enterprise” is defined as an enterprise in which the fortunes of the investor are interwoven with and dependent upon the efforts and success of those offering or selling the investment or of third parties.\n> [https://definitions.uslegal.com/c/common-enterprise/](https://definitions.uslegal.com/c/common-enterprise/)\n\nI understand this, that a person can just make an investment transaction, lay back, and relax.  Other people, for example token project directors or token project officers will do the value-added work, that will, finally, generate dividends.\n\nThat goal is also achieved by inserting a dividend clause into our contract.\n\nNote that voting is not considered a “significant effort”:\n\n> **Voting rights are not significant efforts of investors** – Holders of DAO Tokens had rights to vote on projects before funds were deployed for projects, but this was not enough to make token holders actively involved in managing the business. This may not be a huge surprise (for example, voting rights are one of the most notable features of stock, which is widely regarded as a security), but it is a question we have heard several times.\n> [https://www.lexology.com/library/detail.aspx?g=3ea81ec0-bfdb-4dca-ac24-0a306cd63c99](https://www.lexology.com/library/detail.aspx?g=3ea81ec0-bfdb-4dca-ac24-0a306cd63c99)\n\nFor more detailed analysis, I refer you to the [SEC Report](https://www.sec.gov/litigation/investreport/34-81207.pdf) itself.\n\n## Conclusion\n\nIt's trivial to construct an ERC20 token that would _definitely_ be considered a securities by the US regulators.\n\nIn the next post I'll describe how the same construct can provide same or better investor protection than existing law (making regulation an extremely expensive device which has the only rational purpose: to stop innovation)лудн\n\n\nOriginal is posted here: https://akhavr.github.io/ERC20-Security/",
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