great post, Representative "Democracy" is so flawed we should really revert to a more Athenian Direct Democracy/Participatory Democracy.
with todays technology, society can become one boundless "parliament" where all of us can take part in the legislative process and all in a decentralized way.
the Pirate Party and the 5 Star Movement in Europe are working in this direction. They have some sort of "wiki-laws" online platforms where members can participate in making or improving legislation, but they're not decentralized platforms yet.
the idea of introducing risk/reward to the process is fascinating and could be what makes it work in a decentralized and large scale.
nefarious actors would be discouraged by financial loss and would probably end up with poor reputations to the point of being disqualified from participation, while those making contributions deemed positive by consensus would see their reputation/finances grow. I think behind The DAO there was a similar concept but unfortunately we didn't see it play out.
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