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Batched Amendment - Strategy and Resource Director Proposal
Factom Standing Parties,
I am pleased to present the Director Framework and Administration proposal. The last few months have been incredibly intense from a Governance standpoint. However, I truly feel that all the dialogue, arguing, and ideas have been extremely beneficial, as they have helped us do an extremely deep dive into just exactly what the Factom Protocol needs to do in order for us to get back on the right track and achieve our potential.
This batched amendment pertains to two documents:
[URL='https://docs.google.com/document/d/16jQiL7YxbKrVr69LTOMZ2VJcc77s1qgMFDQoOF5H6cA/edit?usp=sharing']Doc 008 Factom Director + Council Framework and Administration - Version .4[/URL]
[URL='https://drive.google.com/file/d/13OAy6rAlZyLhhNKTiLRTciK80hkhwZ-U/view?usp=sharing']Doc 001 Factom Governance - Version 3.0.0[/URL]
Note: Doc 002 states that the files should reside in the Factom Google Drive folder "XX-Draft-Documents." Due to lack of permissions, I am self-hosting these files until they can be moved to their proper location.
The Factom protocol can be segmented into four categories, or legs of a chair, if you will. These four categories are:
This proposal seeks to streamline Factom’s approach to (1) Strategy and (2) Resources by utilizing an approach softly mirroring aspects of a traditional organizational structure while still ensuring the protocol stays decentralized via proper checks-and-balances.
[B]PARALLELS BETWEEN PROTOCOLS AND TRADITIONAL BUSINESSES[/B]
[*]Businesses need to generate revenue to grow their business
[*]Protocols need to generate revenue (via usage, which leads to token price appreciation) to grow the protocol
[*]Businesses are a collection of individuals working towards a common goal
[*]Protocols are a collection of individuals working towards a common goal
[*]Businesses need competent and qualified leaders to steer the ship
[*]Protocols need competent and qualified individuals to steer the ship
This proposal stops short of pitching a full-blown CEO-base approach and instead proposes a Director-based approach. This position will be known as the “Strategy and Resource Director.” The Director’s role is akin to how a CTO may oversee certain technical aspects of a business, but lacks power in other aspects of the business, such as finance (CFO). This proposal seeks a compromise between ANOs in support of a CEO-like approach and those wary of a CEO-like approach.