Decentralized Money, Centralized Governance

EarthBucks (EBX) is a protocol for decentralized electronic cash that is centrally governed by EarthBucks Inc. As the only shareholder, board member, and CEO of EarthBucks Inc., that means it is centrally governed by me. This is the only effective way to do things.

I am very intent upon two things. Number one, making sure that EarthBucks has a system of self-custodianship where users can hold their own money, can be their own wallet service provider, and can use alternate wallet service providers and blockchain API service providers in an open marketplace. Number two, making sure that EarthBucks, the protocol and system, is governed by me, or perhaps by some other fully centralized organization designated by me. Any other solution will fail.

Committees don’t work. I have been on a bunch of committees, and I have witnessed first-hand how every committee always fails, which is when someone, who may not be trying to cause harm, disagrees with everything and stops anything from happening. If we sit around waiting for everyone to have a say about the EarthBucks protocol and not doing anything until everyone agrees, we will never launch anything, will never change anything, and will be outcompeted by alternatives. Committees cause failure.

Successful companies are never run by the board. All intelligent board members know they could not run the company because they don’t have all the information and would never agree with all other board members about the proper direction. The board, which is a type of committee, always selects a CEO to run the company. EarthBucks is run like that. Right now, I am the only shareholder, the only board member, and the CEO. Eventually, I may take on other shareholders, and maybe board members, but I will never allow the system to be governed by the board or shareholders, because that would guarantee failure.

Committees don’t work. EarthBucks is now and forever shall be two things: a decentralized electronic cash system, and a centrally governed system. It is the only way, and it is not up for debate.