A BEOS Endowment Trust Fund will be created for this purpose, but it will not be managed on the blockchain like the existing BitShares Reserve Fund. Instead, it will be managed by a traditional legal trust fund, the BEOS Limited Cooperative Association (“BLCA”). This is for pragmatic reasons. A conventional board of trustees is able to make contracts, act quickly, and maintain commitment to a plan longer than a purely democratic process can achieve.
This is a point I have been thinking for a while. Do you mind sharing any specific examples or reasons in the Graphene family or other blockchains which made you / BEOS reach at this conclusion ?
Much like the need for the BTS foundation to be a face of correspondence, the need for signing contracts, and doing business in the real world necessitates that there be a legal entity of some type and representative in order to do such things.
Hence the choice for the creation of the BLCA.
Glad to see you put this in position before launching the chain. Steemit's struggle to set one up after launch of Steem blockchain serves an example how not to do it.
amen