coinedition.com
Cardano co-founder and CEO of IOG Charles Hoskinson and the chief legal officer of Input Output Global (IOG), Joel Telpin, recently sat down for a fireside chat where they spoke about Cardano, blockchain, and the creation of a constitution.
Hoskinson began the chat by showing gratitude towards Telpin for his work and speaking about how they have been working together for over two years. The CEO of IOG asked Telpin about constitutions in general and also about their uses.
“I think you can actually simplify the constitution says it is a set of rules, but it does three things; establishes how you legislate, establishes how you administer, and establishes how you adjudicate, ” said Joel Telpner
Telpin spoke about blockchain technology and how it is equivalent to the preamble “we the people.” He also stressed how miners, validators, and stake pool operators already perform the three main functions of the constitution.
Telpin stressed the fact that a constitution can create basic concepts or guidelines for a blockchain. The CLO of IOG also added that it can aid in creating a framework for suggestions.
Hoskinson used Ethereum as an example of how a lack of constitution caused ambiguity following the DAO hack. The Cardano co-founder also asked Telpin what things should be made explicit and implicit in such a situation in the future.
Telpin mentioned that the constitution should have a certain framework that decides how a disagreement should be resolved. During the 23-minute fireside chat, they discussed various aspects of how a blockchain constitution can improve governance and community participation.