Suggested Improvements to DASH Proposal and Governance System That Increase Value Of DASH
We need to make some changes to the current governance / proposal system to ensure the projects we are working on align with realising the business development of DASH in a more systematic way.
At the moment Dash is like a ship in the middle of the ocean with no compass and no chart. We are spending energy moving in one direction, then changing direction and going in another direction and then back paddling. This is all waste. We need to have a ship, with a map a compass and clear charted out path to get us to our destination. We are not going to achieve that with our current setup of dozens of unrelated projects. We need projects that systematically take us in the direction we need to go.
I feel we cannot compete against bitcoin at this moment in time. So, we should do like Apple did when it had only 8% of the market. Identify and dominate the niches and become very strong in those. In order to do this we need to have a cohesive worked out strategy and specific projects that month on month build on achieving that goal to get our ship called DASH to its destination, safely, quickly and efficiently with all our energy and talent moving in one direction to that destination.
How to select projects that align With DASH long-term business growth of the DASH network
We need projects to be strategically aligned with the business development of DASH's i.e. proposals need to be voted that will work towards realising DASH's clearly defined target market areas.
Firstly we need to develop a clearly laid out plan and strategy for DASH growth and have projects that align specifically with achieving those target markets. In order to achieve this we need a much more detailed and clearly worked out "Business Plan" for DASH. At the moment it is simply too vague.
It is not enough to simply list out the industry types that DASH should go after e.g. high charge-back industries, countries with hype inflation, traders etc. We need to more clearly define actual characteristics that a project needs to meet within those broad market categories in order for it to be worthwhile in realising that business growth vision. Then we need to do market research on the shortlists within those areas then decide specifically which specific market solution we will develop to address that specific niche within a market category.
To achieve this I suggest we consider a modified version of the the Agile development process to help us organise the treasury system projects into a more cohesive system that not only helps DASH meet its business dev goals, brings sustainable revenue to DASH but also assists MNOs in making decisions.
e.g. In Agile there is a concept of building a "backlog"
of features which is essentially just an ordered list. The backlog of features are then assessed and ranked in order of importance. In this way the most valuable features that bring the most benefit are worked on and released first. I feel we need to pro-actively create a "Projects Backlog"
list. i.e. a list of projects that would help DASH realise our business development goals that fit within the identified categories DASH is focused on.
Each project would be ranked by MNOs voting in order of greatest value return to the network. We can add any number of suggested projects and investment proposal e.g. DIF investment ideas to this backlog. The larger the backlog the better. After several months the top projects in the backlog list, that meet with the DASH development vision, could be added to the DASH proposal to compete against regular proposals for funding. If successful, we would hire our own dev team team with project manager to fulfil the feature. The important point here however is the monthly cost of the project needs to be valued in USD and not DASH. We cannot hire developers unless they are paid a regular wage. In addition once a project is voted for we need to continue to pay for development until the Project is fully realised. Too many projects are ending midway because there is a change of heart in voting and we lose all the investment we made in that project up until then.
The advantages of this new project selection through a ranked project backlog are as follows:
We have more focus in the types of projects that meet with the vision of DASH business development.
We retain IP rights which we can distribute/license to other DASH projects benefiting the DASH eco-system beyond any one single project. This amplifies many times the value of one project to the DASH network.
We have accountability from the team leaders on the projects because we
hire them i.e we choose the team to work on the project. We can get detailed reports on progress of work and steer the project to ensure it meets the goals and objects we have set.
We eliminate the problem of proposal trolls that are hijacking projects because the projects have been voted by the MNOs to be the most valuable even before they reach the treasury system.
MNOs can choose to fund the project using a % of their rewards automatically taken if sufficient funds in treasury do not exist this ensure valuable projects are completed.
Once MNOs can see that we have a systematic set of projects that are helping us achieve DASH's long term vision as the world's premier payments system we can then consider if investing in these projects would bring us greater return on investment by the DASH coin increase in value compared to the 6.5% per annum return from MNO rewards, and then vote to allocate funds to that particular project to get it through.
One example of a project that would greatly increase the value of DASH
DASH needs to have a stable store of value for merchants I put forward a suggestion last year of a new type of Dash specific True Stable coin that is linked directly to a basket of 52,000 items used to calculate the cost of living. In this way the DASH stable coin would be more stable than fiat currency that constantly depreciates. This would create demand for this type of coin over depreciating USD. We would use DASH as the staking coin. You can read my article here on this new type of DASH stable coin. The DASH super stable coin would be useful in Airline industries where one of their main concerns is currency depreciation and it would also be useful for Pension Programs to retain value.
DASH True stable coin
Providing stability for DASH transactions for merchants is of critical importance for DASH to be taken up by merchants in commerce.
If we do not solve this issue we simply will not see DASH being taken up by merchants on any scale outside of high inflation countries. By providing stability in digital equivalent of USD or Euro the value of DASH price would increase because now merchants could use DASH for their businesses.
I also feel another major project type we are not yet including and funding that we really must include to be successful is for in-depth market research and assessments projects. We would use these on which to clearly identify the specific niches within the market categories we need to focus on. These types of research project should come first,
before any development work starts.
I gave the above projects as a few examples of projects that could be added to the Dash Projects Backlog
. Once in the backlog MNOs could vote for the project up or down and provide comments for the reason for their votes.
Note that the Projects Backlog then becomes an asset to the Dash Network. DIF investment suggestions, Ideas, suggestions, feature requests, bugs, research projects can all be added to this backlog and ranked. In this way the top projects will rise to the top of the Backlog. I feel the first projects really should be Market Research projects to clearly identify and compare the different business opportunities that are open to dash within the Categories previously identified by the DCG.
Once we have the top projects identified we can hire a dev team with a project manager to work on the project. These business development projects will be independent of DCG who are working on the main protocol for the network. The dev projects MNOs would be responsible for are business development projects.
Each project that enters the projects backlog list would have points automatically awarded if it meets the characteristics of a worthwhile DASH project. We could define and refine these characteristics of a worthwhile dash project some examples include:
1. Does the project generate revenue for the DASH network?
2. What % Dash individuals or businesses would benefit if this project was successful?
3. Does this project assist DASH's establish itself into the core key market types identified by DCG to be the focus of our business dev strategy i.e. hyperinflation countries, high charge-back industries
4. Could the project be made self sustaining?
5. Can the IP of the project be used in other DASH projects?
6. Is the DASH brand name put forward first in promoting the new service?
The Projects Backlog then becomes a decentralized way for us to identify, vote on and choose specific projects that meet with the strategic market areas already identified by DCG and gives clarity and focus to our govenenance system. Once we have the jobs defined we can post these Projects on sites like upwork.com to fulfill them.
We are losing huge opportunities to get the DASH brand name out with our projects. Many projects are using their own branding. Quality projects provide us with a DASH brand awareness opportunity. Marketing of the DASH brand is hand in hand with providing the quality service we develop. In order for this to be successful however we must enforce quality standards -otherwise the Dash brand could be adversely affected. Which means we need to actually run the projects ourselves to ensure the quality is there.
We need to create a list of ideal characteristics
a project would have that would give projects in the projects backlog an automatic value rating to the network. This would assist MNOs more easily assess the value of a project to meet with the overall long-term business development of DASH.
There is far too much waste in DASH right now. If we could eliminate waste we will increase returns to the network and the value of DASH would be retained.
These are the waste areas I can see right now:
1. MNOs wasting energy and time battling each other and trolls with no long-term focus of the business development of DASH.
2. Projects that are not financially self sustainable and therefore end when there are no more funds awarded.
3. Projects with poor management as a result money is lost. (if we choose the management instead of have them choose us there is accountability)
4. Projects run by external entities were we have absolutely no control over the project or the IP generated or how it can benefit DASH e.g. Alt36, KuvaCash. Millions of dollars spent with next to nothing to show for it - not even the IP, our brand name or transactions counts.
5. Overpaying for developers / teams is eliminated since we hire the dev teams.
6. Projects partially funded then we stop funding in the middle of the project because another "better" idea comes along.
7. Ideas, suggestions, feedback from community members are being lost in the forums and Discord. These could be captured and added to a Projects Backlog and voted on in terms of importance in realising our clearly defined goals - in this ways we capture good ideas into a systematic project backlog system that organizes these and ranks them converting them to a business asset.
The project backlog system will solve all the above waste points because MNOs are the ones that voted for the project to go to the top of the project backlog list and therefore we have MNO buy in for that project. This is very similar to the Agile process in which team members select which features they want to develop for the new release.
Why reinvent the wheel? Simply adapt the Agile backlog methodology to manage our Governance system. See this page on how to use a backlog effectively:
Education first over marketing
There has been talk of spending money on marketing the DASH brand. I feel that is not the time to market DASH yet in the traditional sense. What we first need is to educated users, businesses, developers etc with an education portal. We then can refer to specific education pages - which may include videos in marketing later on. Education must come first. e.g. where is the education on showing the benefits of DASH to a business? How can a business setup DASH payments on line? What are the legal ramifications for doing this in each country? There are so many questions that must be answered first before marketing can take place.
MNOs with real world business experience could volunteer to assess projects that fall within their category of experience and other MNOs can delegate their voting keys to these MNOs
We need a system for MNOs that have business experience and an area of expertise to be more involved with voting on projects. This means a system for MNO Voting key delegation and management. This way MNOs that do not have much time can delegate their voting keys to MNOs that have business experience in a particular area. At any time a MNO can withdraw their voting key rights if they are not happy with how a MNO is voting on projects in this way the power of decentralised decisions remains but better quality decisions are made.
The above proposed changes ensure that business development remains decentralised and no one single entity would control the business growth of DASH but would still provide focus and alignment with DASH moving in the same direction to achieve our business growth objectives.
We would retain IP that can be re-used, we would increase value to DASH network and we would be working in a systematic logical manner to increase value to the network. Then MNOs can choose to fund the project with the funding coming from our Dash rewards or from the treasury.
Therefore if we are to have MNO selectable funding I feel we need it on a per project basis and that project would need to provide greater value to the DASH price increase than the MNO rewards. We can only achieve this if MNOs are responsible for making the decisions as to what project types we need to increase DASH value and that means a new Project Backlog suggestion and ranking system needs to be developed for the Governance system.