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Cardano Foundation’s CTO, Giorgio Zinetti, expressed the belief that while decentralized systems are valuable, they come with hurdles which must be addressed for a truly decentralized system. Speaking at a conference in Dubai, he argued for the decentralization of authority, adding that community education is crucial for informed decision-making. He outlined Cardano’s plans to host events to educate its community, as well as provide incentives for knowledge acquisition.

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Talking about the nature of decentralized systems like Web3, an executive from Cardano Foundation mentioned that even though these systems represent the spirit of their platform, there are a bunch of hurdles to clear before achieving an absolutely decentralized system.

Giorgio Zinetti, a top-ranking executive from Cardano Foundation, chatted about both the perks and obstacles of decentralized control in Web3 systems at a conference in Dubai. He threw light on how Cardano stays committed to onchain governance.

As the CTO of Cardano Foundation, Zinetti expressed that Cardano is considered as the forerunner when it comes to onchain governance. Plus, it’s also one of a handful of blockchain networks that have completely adopted this model. He stated, “We like to see ourselves as the world’s biggest DAO. Now, the community can influence the chain’s future by voting.”

Zinetti’s of the opinion that other top blockchain networks take a more central approach to governance.

Discussing the advantages and disadvantages of decentralized governance, Zinetti admitted that both centralized and decentralized systems have their own pros and cons. He told Cointelegraph that decisions can be taken way faster on centralized systems.

“A centralized system is great for speed and executing things swiftly. But if we want a truly decentralized system, we also need to decentralize the authority,” he detailed.

Zinetti’s optimistic that this would lend Cardano added credibility and ensure its long-term sustainability.
“In the short-term, things might slow down as it won’t be five people in a room making decisions but a million people from around the world. However, I think it’ll be worth it in the long run and ensure that the best of the community is in play and that the incentives line up for all those involved,” Zinetti added.

On the issues faced while involving more people, Zinetti expressed that a decentralized system must ensure that a variety of people partake in decision-making and are educated enough to make informed choices. He emphasized educating voters on relevant decisions to make decentralized control effective.

“You’ve got to educate the participants in order to make the correct decision. This requires a lot of effort. To be successful, we need a good chunk of people participating in governance decisions. We can’t just rely on a few tokenholders casting their vote.”

Cardano is planning to host various events that will educate its community members on the subject, explained Zinetti. He also talked about how the foundation plans to incentivize participants to up their knowledge, which would eventually strengthen their governance model.

Source: Cointelegraph