Stanford Professor Jeff Strnad Joins Advisory Panel of Q International Foundation to Address DAOs’ Governance Challenges
2024年7月11日 - 8:00PM
Professor Jeff Strnad from Stanford University has
joined the Economic Advisory Panel of Q International
Foundation, the not-for-profit organization behind the Q
Protocol. The collaboration between Q International Foundation and
Prof. Strnad aims to address the pressing governance challenges
faced by Decentralized Autonomous Organizations (DAOs).
Addressing DAO Governance Challenges
DAOs suffer from a fundamental dilemma: On the one hand, they
need to be decentralized—otherwise, there is no point in organizing
as a DAO. On the other hand, decentralization often comes with
negative side effects: absence of leadership, slow decision-making,
and lack of accountability are problems that are all too familiar
for many DAO participants. The result: most DAOs do not meet
expectations, and many are outright failures. DAOs face significant
governance challenges, as evidenced by recent controversies with
prominent DAOs such as MakerDAO, Arbitrum DAO,
or SushiSwap’s DAO. These organizations have struggled with
issues like leadership conflicts, slow decision-making, and lack of
accountability.
Innovative Governance Concept: Contestable Control
Approach
In a groundbreaking paper, Professor Strnad proposes
a novel solution to the perennial issues of decentralization in
DAOs. His “contestable control approach” allows for DAOs to remain
decentralized while ensuring efficient and effective management.
The essence of this framework is that control of the DAO is
continuously up for grabs to the highest bidder. Successful bidders
are rewarded for the value they add, and DAO token holders benefit
from an increase in the token’s price.
Professor Strnad explains, "DAOs have immense potential, but
they often struggle with decentralization leading to inefficiencies
and lack of accountability. The contestable control approach
provides a solution that ensures that DAOs can be both
decentralized and effectively managed. I am excited to work with Q
International Foundation to put this into practice. The Q Protocol
with its in-built ability to enforce non-deterministic rules is an
ideal platform for testing novel ways of DAO governance."
Collaboration with Q International Foundation
This partnership will leverage the Q Protocol’s capabilities to
enforce the necessary conditions for the contestable control
framework. The collaboration aims to create a practical
implementation of this governance model, filling the gaps that
cannot be addressed by smart contract code alone.
“Professor Strnad’s approach to DAO governance aligns
perfectly with Q’s mission to advance decentralized governance.
Together, we aim to set a new standard for DAOs, ensuring they are
not only decentralized but also accountable and efficient,”
comments Martin Schmidt, a key contributor to the Q Protocol.
This partnership marks a significant step forward in the
evolution of DAO governance. By combining Professor Strnad’s
innovative contestable control framework with the Q Protocol’s
decentralized governance infrastructure, this collaboration aims to
solve some of the most pressing challenges facing DAOs
today.
About Q Protocol
Q is a novel blockchain protocol acting as a fundamental
governance layer in Web3. Going beyond the code-is-law paradigm, it
combines the benefits of a public, open, and decentralized ledger
with the transparency and predictability of enforceable private
contracts. Q enables adoption by many use cases that desire
decentralization but require scalability and dependability.
About Professor Jeff Strnad
Professor Jeff Strnad is Charles A. Beardsley Professor of Law
at Stanford Law School. He teaches various courses on blockchain
and cryptocurrencies, including a course on blockchain
governance. Prof. Strnad’s research spans the fields of
taxation, public finance, finance, and empirical analysis. He has
published leading works on the taxation of financial instruments
and on the application of Bayesian empirical methods to law. An
innovative teacher of quantitative methods, Professor Strnad has
created original courses in empirical analysis and game theory.
Before joining the Stanford Law School faculty in 1997, he was a
professor of law and economics at the California Institute of
Technology and the John B. Milliken Professor of Taxation at the
University of Southern California Gould School of Law.
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