Real World Governance is Poop!

By bengy | Idle Musings | 21 Jan 2023

Real World Governance is Poop!.jpg


Honestly, the area of shares, company governance, and the stock market is one area is ripe for the introduction of blockchain or some sort of decentralised infrastructure that isn't the completely analog, snail-mail crap show that currently exists...

Seeing as I had bought a bunch of new types of shares recently... and yes, that is also a bit of a slow, broker led poopshow that digitally seems to be instant, but in reality still takes days to settle properly...

... oh yes, seeing as I had new shares in different companies, I was also receiving information about how to take part in the shareholder meetings. Which essentially means voting by proxy... and filling out forms to authorise a proxy take part and vote on our behalf. So, the non-chain equivalent of delegation of votes. However, it means that I need to find a proxy, and then fill out the form and then snail mail the instructions... at which time, I guess I will receive some sort of mail in reply that will let me know that everything has been processed. Sigh... what a rigmarole, and quite honestly, I just don't have the willpower or interest to do it...

... meanwhile, on-chain governance is super easy... snapshots are taken, proposals made online, and then voting is done instantly and securely via the internet. Easy... and I have taken part in quite a lot of on-chain governance votes. It is super easy, and the voting windows are generally long enough to make it easy to do in a moment of spare time.... and they happen all the time, instead of at some special shareholder's meeting in a specific city at a specific time.

I've pretty much ditched all these shareholder governance forms in the bin... I really just can't be bothered, and as such, all my votes (and likely all the votes of most retail investors) are just defaulted to the chair who will seem to just vote YES to everything presented. Ah well... this is what you get when you have a "democratic" system, but with large and unnecessary barriers to participation. Yet another future application of blockchains, and one that can't come soon enough... although, it would require a good deal of other infrastructure to be in place...

... but it is yet another thing that astounds me... it is almost as if our general progress has been in SPITE of the legacy infrastructure and systems that surrounds us. But it is fast coming to the point when these legacy things are holding us back and creaking at the seams... and the only reason that they are properly gutted and rebuilt is the sheer fact that there are highly entrenched interests that actually benefit from the inefficiencies and inadequacies of the existing system.

... the future and the digital revolution can't come fast enough.


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I am a Musician (Violinist/Violist) specialising in Early Music living in The Netherlands. I have a background in Mathematics and Physics due to an earlier tertiary level study... and so, I'm still quite interested in Science and Technology related stuff!

Idle Musings
Idle Musings

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