• Home
  • Live Data
  • Events
Home Crypto Ticker Dash Community Elects Trust Protectors To Oversee Development

Shutterstock

Dash Community Elects Trust Protectors To Oversee Development

-

Dash, a payments-centered cryptocurrency project, has just announced the results of the first election of the Dash DAO Irrevocable Trust protectors. Six community members from a pool of twenty candidates were selected by the project’s 5,000 masternodes, and will now oversee the project’s trust.

These trust protectors can now affect changes at Dash Core Group (DCG) and direct operations of the  project on behalf of the network.

 

SIMETRI Research

“We believe this creates far greater accountability of DCG to the network,” said Ryan Taylor, CEO of Dash Core Group. “Indeed, this establishes a legally binding fiduciary duty to the Trust and ultimately the network itself. “

This election process makes Dash unique among cryptocurrency startups, many of which rely on self-appointed foundations to guide the network’s development. In this case, the trust protectors were chosen by the project’s major stakeholders, and as such, have a responsibility to work in the interests of the network.

The irrevocable trust was formed in order to ensure that the actions of Dash Core Group are dictated by the network. The trust protectors were evaluated and vetted by a third neutral party firm, through which candidates had to confirm their eligibility. Moving forward, trust protectors will be elected each year.

The six new trust protectors are:

  • Pieter Bakhuijzen
  • Raleigh Barrett
  • Michael Lewis
  • Mark Mason
  • Eric Sammons
  • Perry Woodin

Even among blockchain projects, Dash’s new system of on-chain elections is unique. While the election may not be considered groundbreaking in the short term, should the project find success, a more democratic process may find greater popularity in other blockchain networks as time goes on.


The author is invested in digital assets, but none mentioned in this article. 

Join the conversation on Telegram and Twitter!

DISCLOSURE

Authors at Crypto Briefing are invested in cryptocurrencies. The author of this post may be invested in digital assets mentioned here.

Jalen Fargharson
Jalen Fargharson
Jalen is a Brooklyn native now living in Florida, where he is a licensed life insurance, variable annuities, and securities agent. Despite this background in traditional finance, it's cryptocurrency that truly stirs his passion. Jalen drinks more green juice than is good for him, and his Maltese pup is definitely the boss of him.

JOIN OUR COMMUNITY!

Join the conversation on Telegram and Twitter!

8,427FollowersFollow
1,342SubscribersSubscribe

More News & Analysis

Get The Best Of Crypto Briefing!

Crypto news flashes, new DARE research, upcoming mainnet launches, market reports, and much more!

X
X