NewsGovernanceAlgorand Foundation partners with The Digital Economist to accelerate its Decentralized Community Governance

Algorand Foundation partners with The Digital Economist to accelerate its Decentralized Community Governance

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Algorand Foundation

July 06, 2022 - The Algorand Foundation today announces grant funding support for The Digital Economist. The Digital Economist is a global impact ecosystem focused on building insights, products, services and programs towards human and planetary outcomes, serving as trusted advisors to some of the largest companies in the world.

The grant award will support The Digital Economist in developing a framework based on collaborative community governance structures incorporating good governance principles while incentivizing governors. The collaboration  is integral in understanding the impact of a stable governance mechanism that promotes the value and reliability of the blockchain ecosystem.

“For the Algorand Foundation, the collaboration with The Digital Economist is a fundamental step in building a network of thought leadership that goes from the grassroots community to top best global thinkers. The firm is already helping us shape our Decentralized Governance, the largest in the blockchain space, around fundamental pillars that embed social good and tokenomics” says Massimo Morini, Chief Economist at the Algorand Foundation.  

The underlying principle is based on treating blockchain as a digital commons rather than public infrastructure. Building on Elinor Ostrom’s principle of a ‘nested enterprise’, The Digital Economist will focus on supporting decentralization of the  Algorand ecosystem where governors are driven by community interests. The anticipated outcomes are the sustainable preservation of Algorand’s commons pool resources, and long-term growth.

“A responsible governance system is key to achieving a sustainable and inclusive decentralized economy. We envision that Ostrom’s design principles, once integrated into blockchain protocols, can achieve optimum decentralization while protecting community resources and maximizing the reliability of blockchain networks. This collaboration marks a key milestone in the ecosystem, with Alogrand leading the way for decentralized community governance for other protocols to follow suit,” says Navroop Sahdev, Founder and CEO of The Digital Economist. The firm is headquartered in Washington D.C., and was launched at Davos in January 2020.  

For more information on The Digital Economist, please visit their website at https://www.thedigitaleconomist.com/ or follow them on Twitter.

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