eQuid Constitution => eQuid Constitution => Topic started by: Garth on August 21, 2018, 08:40:51 pm

Title: eQuid decentralized organizational format and rules
Post by: Garth on August 21, 2018, 08:40:51 pm
eQuid has 7 board members.  Board members are brought in by other board members and need a 51% approval to be instated and must maintain a 51% approval rating from the community to remain on the board.  The board is responsible for setting the goals and course of action based on data collected by the organization and community feedback.  The board is also responsible for choosing a CEO.

The CEO is responsible for implementing the plan put forth by the board.  The CEO chooses the team required to get the job done.  The CEO and team members need to maintain a 51% approval rating from the community to keep their position.

Tokens in the eQuid network need to be earned into existence and do something good for people, the planet or both.  A 51% approval rating needs to be maintained to stay in the network.  A maximum of 10% of coin creation can be used for token administration.  1% of all tokens created are paid to the eQuid administration for network development and maintenance.  Organizations that manage tokens for the network are called coin operators.  Coin operators are responsible for maintaining the token and ensuring the project owners are doing what they say the will do.  They are also responsible for ensuring project owners get paid.

Projects are any task that is approved by the community.  Project Owners clearly define what they will do, how it is good for people or the planet, how long it will take, and how much manpower it will take at what cost.  Projects can be submitted to the community on this forum and promoted to get community approval.  Once approved the coin operators create a contract and pay the project owner based on milestones. 

The community is broken into several categories based on location.  the categories are global, national,  state, and city.  Coins and projects have different approval requirements based on the size of the geographical area they effect.