The project will be compatible with the decentralized autonomous organization MolochDAO, based on the Ethereum network.
In a recent press release published by the Argentine political party “Mejora”, it was announced that they will conduct some tests to establish a new system that uses a Decentralized Autonomous Organization (DAO).
With this method, they seek to optimize transparency, improve predictive processes in decision-making, counteract and avoid fraud, and preserve the destiny of the resources allocated and, thus, fight against corruption.
Although the information related to this project did not detail the times in which the tests will begin or their possible completion date, it was known that they will use Sovereign 0.7, which is known to be a solution belonging to the Democracy Earth Foundation.
This is compatible with the MolochDAO, a smart contract network developed and based on Ethereum. The intention is to create a system that works as a method of digital governance for the near future.
According to statements issued by the political party via Twitter, the objective of this system is to support adoption as a form of digital governance, capable of improving the fate of movements within the party.
“We made an agreement with @DemocracyEarth to perform the first field test of the tool in our party with the commitment to adopt digital governance mechanisms for decision-making”, the political party said.
Also, in the same way, the party assured that this mechanism will be reliable and that it will avoid, in every sense, a fraud, especially when allocating funds.
“This will allow us to have a 100 % transparent decision-making structure, which makes fraud impossible and will allow us to make the internal decision-making process increasingly more participatory for both political decision-making and allocation of $$ $”, the political body concluded.
Technical Aspects of the System
The Sovereign 0.7 system is an updated and optimized version of a software that seeks to create a digital governance system, this is based on a MolochDAO code.
With this code, it is possible to visualize results in real-time, see activities of each participant who interacts in the DAO, as well as assemble proposals that help to improve the entire ecosystem.
The Democracy Earth organization is co-founded by the developer Santiago Siri, who imagined this project to improve internal processes within political parties and seek more efficient and transparent governance methods.
The organization notes that MolochDAO is becoming the most widely used smart contract to use in DAO, an Ethereum blockchain. It is known that MolochDAO was launched since the first quarter of this year, and according to its data, it is designed to “finance and promote the development of ETH 2.0 public infrastructure”.
The Political Parties and The Cryptocurrencies
This adoption of a blockchain system for decision-making by political parties puts on the table new methods of using this type of technology in politics. Previously, the ecosystem was used as a simple system for receiving taxpayer funds. But it can change if the system succeeds.
By María Rodríguez
