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CR Council Candidate Interview: Lao Mao
1. Since you are running for your first term, please introduce yourself to the community. Tell us a little about your background, prior experience, and personal vision for Elastos and Cyber Republic.
I am Lao Mao. I graduated from Sichuan University with a major in theoretical physics and graduated from the Institute of Physics, Chinese Academy of Sciences, with a master’s degree in condensed matter physics.
I once served as the chief financial officer of a private enterprise and then was sent to work abroad in an overseas engineering department of a state-owned enterprise. I participated in the preliminary research, project establishment, and business operations of Colombo Lotus TV Tower in Sri Lanka.
The technical architecture of Elastos had a visionary idea when it was launched. CRC was to imitate a structure of representative democracy in the real world and manage an autonomous community organization.
Its goal was to build the stage for the realization of the modern data economy on the Internet, reconstructing personal data as assets, and provide a healthy environment for creating new business models that can form a new wealth consensus for the world.
It was to create a win-win situation and wealth freedom for innovators and consumers on this next generation internet. At the same time, it was also an essential path towards decentralized governance.
2. Would you say the design of Suggestions and Proposals, and the CRC in general, has been effective? What could be improved?
Since the CRC has only one year of operation, it is not yet possible to evaluate its effectiveness, especially when it comes to professional issues and financial support for ecological projects. However, the interaction with the project teams before voting is not sufficient and the supervision and management afterward has also failed.
3. What contributions to the Elastos ecosystem as a whole have you made? What does your unique background lend to the CR Council?
Since I invested in Elastos and joined the Elastos community four years ago, I’ve paid attention to the team’s development work and external communication activities.
Team development is related to the future value of Elastos. I believe in the free market economic model, the so-called consumer-oriented market economy model, and I especially admire the decentralized governance concept of Austrian economics.
I have written several articles to express my views and opinions on the problems that Elastos has encountered in its operations. In my opinion, the depth of understanding of decentralization and the development team’s vision will determine the future value of Elastos.
4. Why should the community vote for you? Please share your near-term goals for the CR.
The operations of Elastos is in urgent need of transformation. CR and the teams should fully interact, and the team’s development ideas should also be adjusted.
The team should put forward development goals that can be achieved in stages and return to community-led decentralization and meet the needs of the free market.
The team should abandon the way of thinking of closing the door and devoting itself to research and development, lying on the BTC to eat a big pot of rice (equalism). They should launch a responsible and competitive incentive mechanism as soon as possible to mobilize the enthusiasm of developers, take the development results to the market and test in development, and let the free market itself lead to correcting errors.
It is possible for Elastos to get out of the dilemma that no one sees it by making the future clearly visible.
5. Who else would you endorse for being on the Council with you?
6. Do you have anything to add?
The current state of Elastos
How can it be further decentralized? Are innovative ecological projects more likely to be generated externally or internally?
Between the team’s vested interests and the conflict in the process of decentralization, what are the steps towards infrastructure development?
How can we solve the gap between the efficiency of decentralization and the needs of the market? What is Carrier’s business model? How can we encourage market participants to actively provide resources?
It has been three years since Elastos was founded. Looking back, the gains of investing in Elastos are not satisfactory whether it is in the market performance or compared with the progress of similar projects. Where is the issue? Maybe there are too many areas to reflect on.
In the beginning, Elastos was a centralized project with grand ambitions to fix the issues surrounding the existing Internet. It also attracted a group of community investors.
The technical framework for construction also had leading ideas. However, with the slow progress and slow development, the team and the community gradually realized that such a complex system is not a project that the current team is fully capable of.
Everyone’s expectations for Elastos have also been declining step by step in sync with the three-year bear market. During this period, we did not see the team developed brilliant results published and recognized by third parties.
On the contrary, many decisions were based on the disadvantages of centralized governance that arrogantly tended to overrun rationality.
During the early external investments, to support so-called ecological projects, a large number of decisions to invest in risky ecological projects were made, but in terms of building up the infrastructure, we have not seen highly effective results.
There is also mutual mistrust in the communication between the team and the Chinese community. The community hopes that the development team will connect with the market and take the road of marketing. The other side believes that the construction of Elastos is not comparable to ordinary projects and continues to close the door and devote itself to research and development.
The smell of wine is not afraid of the deep alley. To make matters worse, due to the great leap forward, support for ecological projects has rapidly slid towards the centralization model of the planned economy, and it has also attracted many so-called ecological projects that only want to get the best rewards to participate in this gluttonous feast.
So far, most of the projects that received Elastos backing in the early stages have disappeared, and there is no one answering questions. The team can only continue to remain silent to deal with the community’s doubts.
There were also significant differences between the team and the community on the issue of the dissolution of the Elastos Foundation. In the end, the proposal to supervise the use of funds by the management team was not passed by the CRC committee, which sounds a little weird.
Thoughts on the future of Elastos
After more than three years of development, what has Elastos done? According to the published information, what Elastos can do is DID side chain development, which will be used in the Creda project. It is expected that it will become successful in the market and will serve as an example for other projects in the Elastos ecosystem.
According to my trials, the Carrier’s operating efficiency is not high, especially when applied to social platform projects Feeds and Hyper; it did not become popular because of poor user experience.
The number of nodes found online is about 200,000. This is a big gap between the millions or even tens of millions of nodes that everyone expected at the beginning. So, is the problem related to the lack of market incentives? This is a topic worthy of further discussion.
In short, the poor results achieved by the Elastos team are consuming the patience of coin holders.
As the team development manager, the Elastos Foundation needs to get out of the closed door, opaque operations state as soon as possible and actively integrate into market competition.
Before the community and the team reach consensus, it is recommended that the CRC immediately do an accounting to ensure that the remaining funds of the team are effectively used for development after the internal incentive mechanisms. Responsible mechanisms must be established to prevent the negligent behavior of employees from continuing to spread.