Community Token Talk - Web 3: Coin Voting

###Community Token Talk - Web 3: Coin Voting

What happens if someone buys 51% of a governance token? Are there any safeguards, or do they just control that protocol from then on?

https://twitter.com/TheycallmeDan_/status/1458112787280896001?s=20

Buying 51% of a governance token is not easy if there is a good distribution of it. The biggest threat for that to happen is when there is a premine or a private IDO where a big portion of the token ends up in the hands of a few people.

Even if those people owning a large percent of governance token are the best and most honorable people in the world there is always a threat of regulators. And one of the big points of Web 3 is free speech and resistance to regulators.

The end solution for that situation is a community fork. But the community must be strong and even then it will not happen until the house is already on fire. We have seen it with Steem, we were lucky enough to have a great community that forked and started building on Hive.

Community Token Talk with @theycallmedan and @starkerz
Check out the CTT episode:
https://3speak.tv/watch?v=theycallmedan/pyikbzaz&jwsource=cl