Wikiwoop Documentations

8 - GOVERNANCE RIGHTS

The secret to success in any industry is proper governance. Even though it is commonly known that blockchain is a decentralized network, we believe that governance of the WoopChain network and Wikiwoop App should be handled by the Decentralised Community. This process occurs as WoopCoin is distributed among the community, which gives the Autonomous Organization more voting rights. The Community's can collaborate with one another to expand the WoopChain network and its user base. The scalability of WoopChain is not just related to technical issues, but to a consensus governance system.

The WoopChain network will naturally evolve with ongoing upgrades and additions to its features and functionalities, and it will be able to innovate continuously and quickly as a result of the efficiency and operational transparency of the governance structure. The next step in the WoopChain network is to improve its governance model with the capability for continuous innovation along with rapid advancement in ecosystem development. This will help WoopChain achieve its main goal of operating as a fully decentralized public platform with the ability to scale and at the same time comply with regulators, governments, and meet the market needs.

We identify the right to choose how the classes will be represented and how decision-making authority will be distributed in order to reach this new governance consensus. The efficiency and cost-effectiveness of such a governance model can lead to greater consensus decision-making that balances the opinions of the communities. For instance, no decision can be finalized without the vote of the Community, and for this decision to be valid, it must receive at least fifty-one percent (51%) of the votes. Voting for this type of governance has a favorable impact on the community's fairness and efficiency.