Cardano institutions
Cardano’s Voltaire - Glossary: key terms explained
In the Cardano ecosystem, the term “institutions” refers to entities or collectives composed of multiple community members pooling expertise to support specific needs or aspects of the Cardano environment. Such institutions will help provide additional structure to governance while contributing to the Cardano ecosystem's growth, development, and adoption. Their involvement strengthens the network effect, fosters innovation, and expands the reach & impact of Cardano's decentralized solutions.
Contrasting with the traditionally negative notion of being bureaucratic and unyielding, these modern institutions within Cardano operate on principles of transparency, decentralization, and accountability. They foster a democratic system where power is distributed among users, facilitating a collaborative decision-making process. Anyone can express interest in starting a new institution or joining an existing one. An institution will be wound down as the ecosystem members deem it no longer necessary.
One example of a Cardano institution is Intersect, a member-based organization bringing together companies, developers, individuals, and other ecosystem participants to shape and drive the future development of Cardano. Other institutions include Cardano Guild, Cardano RealFi Consortium, DeFi Alliance, NFT Alliance, etc.
Cardano institutions, including newly established ones like Intersect, nurture the ecosystem by encouraging community contributions and facilitating dialogues for a consensus-driven advancement of the Cardano platform. They are designed to be fluid, adaptable to changes, and even dissolve when they no longer serve a necessary function, embodying a new era of responsive and community-led governance structures.
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