Transitioning Cyber Republic, My Departure and Some Leftover Proposals
First of all I’d like to inform the supporters of CR Regions and all that it stood for, that I, Clarence Liu will no longer be with Elastos after June 2021.
The circumstances are straightforward, Elastos in its gradual move to decentralize, has decided to close its last remaining entity employing the US team. As a Canadian working in the US on a work Visa, my options were to either move back to Canada and work for crypto or find a new job in my field as a Software Engineer. Having lived in the US for almost a decade and having a home here, the decision was clear. The situation is much easier for the other US employees who instead just become contractors, but nonetheless this should be taken as a sign of Elastos’ determination to push forward.
I’d like to thank everyone for their support or not, it has been a great journey and having built the network I have now, I’ll surely be in the blockchain field for years to come.
Transitioning Cyber Republic into a Real Entity
After speaking with Elation Studios, Feng Han and others, it has become clear that Cyber Republic (CR) must step up its efforts to find some legal standing in the real world and represent itself. Elastos already refuses to engage external entities officially, and has a singular mandate to build the technology. Therefore it is completely up to CR to lead the ecosystem, as was its original intention.
For a while now multiple proposals with other entities have been spearheaded by CR Regions. But even then, as a third-party that does not officially represent CR, there were many limitations to what it could do and external entities definitely did treat CR Regions with skepticism.
After I have officially left I will privately present to the CR Council a prepared quote by a respected law firm to evaluate and give CR recommendations. Whether the new CR Council takes this route or not is up to them, and even these items must be done in secrecy because the legal analyses themselves become sensitive items.
The long-term goal here is to set up some sort of legally registered DAO, of which many jurisdictions in the world do support. After having followed the legal advances in the past few years I can safely say that the law has caught up for the most part. This path would provide some liability protections for the CR Council members, allow CR to represent itself and most importantly separate itself from Elastos Foundation.
The consequences of not doing so are worse, I briefly explained CR to an experienced attorney friend of mine and his words were:
DAOs are actually very dangerous legally but nobody in the market pays attention to it
Unincorporated Association = personal liability for everybody
If the DAO votes to blow up a building, everybody is liable, potentially even if you didn’t vote.
Without KYCing individual CR Proposal owners what is to prevent a user from creating a “too good to be true” proposal and using those funds to do an illegal act? Perhaps it is time we prioritized using the DID technology we’ve been building to protect CR.
Rest assured in the meantime I will continue operating CR Regions to support any proposals that need a proper signatory. But until the legal uncertainties around CR are figured out I will still be quite cautious about liabilities. It’s still uncertain that if things go wrong who’s really on the hook.
Travala — to Cancel or Fund the Difference?
Finally of course I need to address the Travala proposal, this was created with the assumption of ELA at 4–5x its current price. Therefore I think the only ways forward are:
- Refund the funds to CR and abandon the process.
- Transfer the funds to Tuum and have them submit a new proposal for the remainder of the funds necessary.
After I have formally parted ways with Elastos, I will submit this proposal so there’s no conflict of interest here.
What’s Opulous Up To?
I’m still an advisor for Opulous and closely work with their team, DIDs are still on their agenda but typically identity and ownership of rights are nice to haves. The core product is still their NFT offering which is still an Ethereum only prospect. I have handed off a contact to Tuum in case they want to start a separate dialogue, but for now my advisory position at Opulous must be firmly what’s best for their product, which is the NFT platform first.