The GoodDollar protocol will be initiated by GoodDollar Limited. The objective of this non-profit corporate entity established in the UK is to issue, operate and promote the use of the GoodDollar protocol in a manner that best serves the interests of the stakeholders as described within this paper. The intended plan is for the GoodDollar economy to be effectively self-governed by the GoodDAO composed of G$ coin holders. We know it will take time to reach this scenario, which relies upon a vibrant economy and ecosystem, plus multiple endpoints for claiming, supporting and using G$ coins. To this end, all GoodDollar code is open-sourced to advance a fully permissionless system.
The concept of DAOs, or decentralized autonomous organizations, is rooted in the earliest development of blockchain and smart-contract technologies. Part of the original vision of DAOs is to bring a new structure to social organizations that can be community-managed by way of a shared faith in computer code that cannot be manipulated or changed (or only under extreme circumstances), where this transparency and “predictability” would create new pathways for organization and collaboration.
The goal for the GoodDAO is to give participants in the GoodDollar basic income economy the structure and authority to oversee the management of an indestructible, open protocol that continuously evolves to meet the needs of its users. Key decisions made by the GoodDAO may include monetary tools such as expansion rate, the number of G$ coins allocated to marketing referrals, and more. When the fully-fledged version of the GoodDAO is implemented it will replace GoodDollar Limited as the administrator of the system. Membership rights in the GoodDAO will be determined by a system that is yet to be published. The governance tokens will allow the members of the GoodDAO to suggest, debate, and implement changes independently and will be rolled out over time.