The Decentralized Autonomous Organization (DAO) Aragon is integrating the blockchain-based voting project Vocdoni in a bid to optimize its governance system.
La Aragon Association, the legal administrator of the Swiss-based Aragon project, announced the acquisition of the technology-based voting project blockchain, Vocdoni, developed by the company Dvote Labs Oü. The integration seeks to improve blockchain governance and voting solutions to optimize the decentralized ecosystem that drives the association.
Aragon It is a Decentralized Autonomous Organization, also known as DAO, whose objective is focused on managing and supporting communities to raise funds, manage finances and reward contributors efficiently, promoting group participation to encourage the construction of transparent governance. This organization allows communities to connect and execute any smart contract (Smart contract) within the network Ethereum, and provides communities with a series of innovative tools to assist them in their development and construction.
However, despite its goals, this DAO has been heavily criticized by several of its members, who publicly resigned from the ecosystem citing problems and flaws in its governance system and in the financial transparency of the organization. This is why Aragon is acquiring Vocdoni, as a protocol that will allow it to have a vote “infinitely scalable, free and anonymous with on-chain settlement”, as stated by Joe Charlesworth, who serves as the new executive director of the Aragon project.
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The Holy Grail of Blockchain Voting
Charlesworth also stated that off-chain voting will be significantly improved with the integration of Vocdoni, in aspects such as privacy and transparency. In his opinion, the use of sidechain (side chain) and oracles to settle chain votes is "incomparable". Charlesworth said that because of the advantages and benefits that this protocol offers, and because of all its potential, Vocdoni is “The Holy Grail of Blockchain Voting”.
The blockchain voting protocol has plans to combine its decentralized infrastructure with zero-knowledge proofs (zk-SNARK), an innovation that will allow it to bring democracy and total transparency into the 21st century. Its financial director, Joan Arús, assured that the integration of these cutting-edge technologies allows Vocdoni to guarantee a completely secure, private and anonymous vote. In addition, this voting protocol is also taking advantage of the potential of decentralized technologies such as Interplanetary File System, also known as IPFS, a technology designed to create a hypermedia network over peer-to-peer (P2P), person-to-person or peer-to-peer, to make the web faster, safer and more open.
ANT, the token used for the acquisition
At the time of this writing, the Aragon Association has not disclosed the amount involved in the acquisition of the voting protocol, but it did specify that Vocdoni members received part of the payment made for the acquisition in its native ANT token. At the time of this writing, the ANT token is trading on digital markets for a value of $3,22 USD per unit, and shows an annual return of almost 490%.
This will allow both projects to work together to harness the potential of bringing their two technologies together, while Vocdoni assures that its development roadmap will remain intact, as well as its software being licensed as free open source software for communities.
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