SEOUL, South Korea–(BUSINESS WIRE)–BOSAGORA, a public blockchain platform, has announced a DAO roadmap for real decentralization on April 12.
Known as a platform that launched Korea’s first initial coin offering (ICO) project, BOSAGORA has already created a Congress Network for decentralizing the organization to run the project as well as technology from the initial stage. The Congress Network will be comprised of node operators who have secured at least 40,000 BOA assets without delegating any voting rights or selecting representatives. Each node operator will be able to participate in the decision-making process in which the project’s future directions and important agendas are set by exercising one vote per node.
The Congress Network is expected to play a critical role for BOSAGORA to grow into a real DAO platform by helping its members communicate more freely and facilitating participation in decision-making processes for the ecosystem’s development.
VOTERA, released in the second half of last year, was the first DAO service created based on AGORA Blockchain. As a tool that makes democratic decision-making possible and thus a real decentralized autonomous organization, VOTERA can solve the problem inherent in the collective decision-making structure.
The members of the Congress Network will be able to set major agendas such as system upgrades or budget items, the main issues for the ecosystem’s growth, in a democratic manner. In addition to launching CoinNet and enlisting Congress Network test participants, VOTERA plans a test run within the third quarter of this year.
The core of BOSAGORA DAO Blockchain is based on Trust Contract, which is a self-contract solution for Smart Contract developed for the network protocol of AGORA Blockchain scheduled for launch before the end of the first quarter of next year. Once the development of the Trust Contract is completed, anyone can take part in BOSAGORA’s DAO Blockchain.
BOSAGORA plans to complete everything, including the Trust Contract development, Mainnet launching, the official start of the Congress Network, and proposal and resolution of the first budget agenda, within the first quarter of next year, thereby laying the foundation for the real DAO project.
Kim In-hwan, chairman of BOSAGORA, said, “No matter how decentralized a system is, it is hard to be called a real blockchain project if its leaders operating the system are still centralized.” He added that “Based on BOSAGORA’s core values including transparency, fairness, and publicness, we will disclose the company’s plans in stages to make a truly decentralized autonomous organization.”