Waves Enterprise, a hybrid blockchain platform that combines public and private chains, announced today that it will transition to a decentralised governance model and open source its entire codebase.
The Waves Enterprise stack and future development of the WE ecosystem will be managed by an enterprise-grade decentralised autonomous organisation rather than a group of centralised companies (DAO). The WE DAO seeks to delegate power, jurisdiction, and management of the Waves Enterprise technology to a governing council and active members of the WE ecosystem. Initially, the council will consist of three companies with extensive blockchain experience: Waves Labs, Waves Association, and Tokenomika. Other members of the council will be added later, including enterprises that use blockchain technology, venture funds, security firms, and others. The mission is to help businesses and governments around the world understand, implement, and use blockchain.
Waves Enterprise has served as the foundation for some of the world’s most successful enterprise blockchain implementations. Enterprises have created blockchain-based applications for e-voting, banking, IP protection, supply chain management, and employee engagement. Waves Enterprise technology has been used to protect the intellectual property of space industry organisations around the world, as well as to automate supply chain tracking for two of the world’s largest oil companies.
Because of this success, The DAO believes Waves Enterprise blockchain can provide significant value to large global businesses. Because the entire codebase is now open source, anyone can audit and use it. The core development team, which is now based in the UAE, will continue to work on the codebase. One of the DAO’s goals, however, will be to onboard new developers and implementation partners through grants, incentives, and certification programmes.
The DAO management mechanisms will rely on Waves Enterprise’s experience with blockchain e-voting, ensuring that voting will be a fair reflection of the situation for any enterprise that uses the technology. Any business can choose to use blockchain safely and customise it for their needs. Furthermore, through open governance, WE DAO hopes to increase trust in the Waves Enterprise platform, making it more appealing to customers and new third-party developers.