On this episode of Venture Stories, Erik and his co-host Tony Sheng are joined by Jacob Arluck (@JacobArluck) of Tezos and Peter Czaban of Polkadot and the Web3 Foundation.

The four of them get into the details of the mechanisms of governance, including voting, councils, and other methods of governance.

They discuss hard forks and why they are not ideal but sometimes necessary. The group also discusses common misconceptions around on-chain governance and their requests for products or startups in the space.

They explain what it means to get to the decentralized ideal without re-centralizing when it comes to governance as well as why the best case scenario for crypto users is that they are not thinking about governance at all as it recedes into the background.

Co-host Tony Sheng (@tonysheng) leads product at Decentraland. He also publishes analyses on the business and strategy of crypto at tonysheng.com and is one of Village’s Network Leaders.

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Check us out on the web at villageglobal.vc or get in touch with us on Twitter @villageglobal.

Venture Stories is brought to you by Village Global, is hosted by co-founder and partner, Erik Torenberg and is produced by Brett Bolkowy.