EthCC 2: QJ Wang

point of some kind and the fact that ECF was not working from remotely what I've heard were some problems that might being able to be tackled with a bit more coordination and leadership in the organization itself coming into it we found more problems obviously a communication among six projects was difficult usually there are twenty heads including execution teams has in one zoom link coordinating five from five to six different time zones to decide issues to decide what issues to decide and there are issues as trivial as what people to hire there are issues as big as how are we going to do our whole structure whether founding members get to have more say in grants in welcoming new members into the ECF initiative and then this also resulted in slow and somewhat inflexible grant giving procedure grants up to a certain amount needs to be also approved and voted by the members which are all very important busy projects in ecosystem so waiting for the voting to happen on github was also quite a drill for exactly execution team in order to push out for more grants and more support to the ecosystem and with that we also cannot address bigger problems that you echo the ecosystem actually requires there are more than nonprofit projects which are very very important and was in desperate need has been in desperate need of support that that we need to do need to support and need to understand in order for the technology to go out there and to help more people but we were we were confined in our space in our range of nonprofit projects because of some other reasons that will I will talk about and then governance right I touched upon this and then there are a strong voice of wanting to kind of implement it they incrementalism to slowly craft what can be governed what should be governed and who to be put in the board of directors to decide for what future members should I should enjoy as their privileges and as their obligations then of course in the process lawyers came in as much as I have respects for my friends and family members even who work who practice law their stands are pretty much expectable and then it is also easily an obstacle when we are trying to break shackles with our own expense experimentation and supporting certain projects so with all of this uncertainty there were no new members that were able to join officially and that naturally resulted in capital drain and then we know the market crashed so it was also inevitable that all the members and the new members needed to mind their own survival in their own organization much more and there is also backtrack of commitments to contribution and that put our organization in a very difficult position of course during which when all the minds are working on the same issue there is also a need for leadership and that is in vacancy because there were simply no structure to empower a leader to make decisions for things to happen and conflict of interests at every step of the way and there are conflicts that are among members there are between ECF team and the members there are conclude interest within the members organization and there are representative appointed by members that play their personal interest also into the game and there is plenty lot of other council interests that are not really on the table but had to be addressed in order to push progress costs were huge to operation the bills from law law firms came flying and then because there was no obvious division between what is the budget for the operation and what is supposed to be the budget for grant giving it was also difficult to continue to donate and that resulted in the backtrack of commitments naturally and ironically we experienced the tragedy of Commons herself because when it's just even on the financial when it's everybody's money is nobody's money and for the past month after the restructuring a restructuring of ECF I've been looking at the accounting books very boring work but there was a lot of the items that at least you say were recklessly spent and there were no guidance to these things so we had all these problems but there was a very strong will for ECF to continue to exist in order to fulfill its mission to begin with and we need to do something and understanding all these problems are not enough because we need to also look at where we started and why we were doing this luckily I was able to meet some of those who were the great minds behind the construction the conception of ECF in DEFCON 3 in cancun and here are some of the quotes that I got a lot of encouragement from and reinforced what I think is what ECF needs to be ECF was implemented as a demonstration that EF does not need to have a monopoly on institutions within thorium without wells possibly for development governance or even legitimacy that ECF gets to not need to be anything that needs to be set in stone by lawyers with bylaws beforehand ECF gets to be a process that is flexible Ningbo and a responsive adaptive to the needs of the community and only as useful as it is able to build and retain legitimacy so there were bigger visions and father of visions beyond what is just a gram program we want to be able to become this organization this vehicle that community can come together and make things happen and support its own initiatives and for that to happen we need to remove as much friction as possible in a process and be as open as possible to all players in ecosystem for our entire technology development to happen so naturally when things don't work you think about let's blow it up let's just start from the beginning what I had in mind is a complete flat structure with no privileges to any members and we support anything that would help with anything that can boost aggressive expansion and I even think that we don't need to really hold an entity we don't really need to hold the wallet which gives you power to Delhi to distribute funds but the same time responsibilities and risks and much less on much less understanding that is up-to-date of what the ecosystem needs if you have your funds yourself any of us who are in the audience runs funds would be able to understand that it is difficult to keep when when you have skin in a game to also get an unbiased perspective of what's going on and also more importantly these members that were involved that we're contributing to this initiative their own needs will not really address infrastructure projects well in turn of course a long-term benefit everybody in the ecosystem but in short-term there is no direct incentive to continue to do it when they have other things to mind and other things you spend their time on and they are important members and parts of the ecosystem as well and their needs and helping them would be able to also boost the ecosystem and help our community to grow which was not really addressed in the original mandate of ECF that is just simply about selfless good so what do we do I mean it is difficult but somebody got to do it somebody got to be the cassandra' that will have to tell the unwelcoming profits to people that don't like them and telling people that money is going out it is going to burn out soon telling people you don't want to give money anymore just admit it don't really force them to come honestly in front of you and all the way obviously that leads to drama and that leads also to things that I'm not very familiar with as a Chinese which is politics and also if you go more forward to it there is also the people that want to push for reforms and not so much into giving reforms and that creates conflicts even within the execution team of ECF and there are malicious intention that was tried to prove to members in order to stop that from happening and then war happens obviously was just discussion but then it became more of open fire and it took us some time to come down to realise where we were from and what we wanted to do luckily we have come to understanding with a few members and then was able to draft a proposal that was eventually pushed to the whole group of the founding members and got majority support for this reform and we realized of course of all the thousands of serious projects are working in ethereum ecosystem and general decentralization ecosystems there are a lot of problems of there being very hard and focused on their own work which is people tend to not to be able to mind so much beyond their own domains and there are obvious collaborative opportunities that were that was missed and they are also the work that was done there are people trying to find a perfect talent that fit what they need to do at this moment and there are also projects that are the perfect chapters that are missing from the books that other projects are writing and this is something simply a project self does not have so much mine and energy and time and and a funding to do and it is something that a community you union is code for and that's why we have established two major objectives with our ECF 2.0 the first is to harmonize community concerns through various mutually agreeable means such as grants strategic operational support and community events and these collaborations can be in any form that are deemed beneficial to the ecosystem including partnerships events even investment programs and assets that we write together and research that we've done we can do together workshops that sue ECF can call from the year from the whole community to come together to do and as our domain suggests easy F dot Network the original concept of ECF is to become a open network of funds to come together to contribute to the common good and we are going to live up to that that removes the control of certain funds and also the issue of the sense of loose control from people who will contribute to this initiative now our operation has expanded to more than grants more of the work is going into coordination we need to understand what's going on we need to research on the needs of the members and the community in order to best serve everybody every player in the ecosystem and the source of funding still comes from the membership donation but it's much it's significantly lower because it only goes to into the operation for the nonprofit ie CF organization itself and the members are opened to all players including VC's exchanges incubators they're looking for funds that looking for early access to great projects with technical evaluation and tech support from bigger ecosystems and also incubators that looking for blockchain solutions from the enterprise site so far since our rather quiet launch in early february we have got six applications we have put most of them in touch with what they need and aggressively looking for funds that align that are with align interests with them to continuously support the projects and with the accelerating number of the applications we receive every day we will need two more support from the community to come together to look at these projects and also more members to join in order to support them members join is not going to be just simply putting three million dollars that's naughty that there is no hard amount of funding or donation required anymore we want them to of course to support our general ecosystem grant program but that's not a necessity we can set the dedicated program with a member for their specific needs in the example of a certain member they are at the stage of not having so much fun to give grants themselves but looking at an ecosystem expansion with the network of funds of ECF we'll be able to find funding for the project they want to support technically at the same time to give opportunities for investment to those members are involved for financial profits above all we also encourage people to just give the project's funding or investment in support directly and that would still go in that would still go through the efforts of scouting and evaluation and mentorship of what ACF is doing now but at the end of the day it will be up to the decision of the grant programs that we work with the members investment programs that we work with and all the other members that want to be involved as early as it possible to decide whether or not they want to give certain support not just financially to the projects and one thing that worth mentioning is that the conflict of interest is somewhat addressed in this situation we will play a very fair transparent game in which project our members need to fight for the projects they want to give support to it's sort of like how scholarships are given right the reason why you are going to go into certain university might be because they have better program to support what you want to do what you're passionate about might be also that a scholarship is just bigger check but that also goes from different directions it's it's mutual decision to make together so with this ECF network format and we're new mechanism the members get to have the information the access to the information of great projects that they're looking for a great talent that they are looking for at the same time a much lower cost in order to be able to participate but we'd still require active participation searches in the form of a appointed specialist to work with us together to better understand and go directly into the competition to get those projects and the applicants are no longer just people that we say yes or no to because they will remain in our network throughout their growth bands in in which every states that they need support with we will be able to give support from the network of our members and also from our own networks to give such support such as investment funding mentorship and partnership that they're looking for and commercial projects in the scope of course also applies and we also have received a lot of attention and care from our community of supporting our efforts so any example of co-working facilities we have for node and internal donating their desk and meeting rooms to the food applicants and grantees of ECF and we're also working with key coin together to find better ways to set milestones for projects for grantees and fulfill members own dedicated programs and also to find better ways to incent incentivize community to come together to work on the same initiative we also look for translators tack analysis and local community managers to look at projects together in order to better understand and also deliver certain due diligence work that we require and I feel sorry why is it out we wish to become the community projects at least as one of the alternatives that we'll be able to represent the community better to make the voice hurt and give more ownership to the community where we are voluntarily joining this cause together I feel blushing technology has been able to allow more than ever in the history such efforts to be organized better and community to be community efforts to be recorded and rewarded better and for that I think that that might be the one reason that I'm most passionate about this industry ever since I joined in 2013 and I want to end my speech with the poem that I like very much I did it in Japan when the interpreter basically fled had seen the slide before my speech calling the day and then went off work and I feel like I could give it another try it's called a walker is history it's a poem written by Eastern German poet Brecht who builds the seven gates of Thebes the books are filled with the names of kings was a kings who hold the craggy blocks of stone and bavi loans so many times destroyed who built the city up each time in the evening when a Chinese war was finished whether the Masons go Byzantium lives in song were all her dwellings palaces young Alexander conquered India he alone Caesar be the Gauls was that was there not even a cook in his army Philip of Spain wept as his fleet was sunk and destroyed were there no other tears each page of victory at whose expense the victory ball every ten years a great man who paid the piper so many particulars so many questions the ladies and gentlemen of the community I present you the new ECF the Rena song of e CF e CF network thank you all for listening