XRP Ledger Transforms Governance with New DAO

The XRP Ledger (XRPL) is set to undergo a significant governance transformation with the confirmation of a Decentralized Autonomous Organization (DAO).

This initiative aims to decentralize decision-making and boost community participation, marking a crucial evolution in XRPL’s governance framework.

Crypto Eri, a prominent community member, shared insights from David Bchiri, CEO of XRPL Commons, who discussed the DAO’s development during an interview.

The groundwork for this shift began on September 6 when XRPL Labs announced a collaboration with XRPL Commons, Ripple, and the Australian nonprofit Wave of Innovation. Subsequent updates included a DAO mention on September 19 from the XRPL Foundation’s GitHub blog, culminating in the current confirmation.

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Bchiri clarified that while Ripple initiated the XRP Ledger protocol and continues to support XRPL Commons, the organization operates independently. The DAO will feature an independent board with members from XRPL Commons, XRPL Labs, and community representatives, alongside specialized committees for various ecosystem functions.

Bchiri emphasized the importance of recognizing community contributions and fostering transparency throughout the process. The ultimate goal is to create a community-driven organization that can operate autonomously, with the initial steps aimed at building momentum for future independence.

Source

Alexander Stefanov