Open source of Libra Association governance plan

Will there be some transparency to the questions and planning of Libra Association governance and compliance efforts or will this be a black box to which only certain stakeholders will be privileged to know ?

I thing it would be incumbent on the Libra Association to have a transparent access to governance planning for users to view and for those users interested, a way of commenting and making suggestions.

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You might be interested in reading the white paper here: https://libra.org/en-US/white-paper/. You will find answers to many of your questions there.

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I guess there is a limit on links out of my post, so I broke up the replies to send you the links for my original reply.

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Joan,

Thanks, I read the pdf. It doesn’t really tell me much about the planning and structures that are part of your trust model. I think that should be open to review and comment, by as many different parties in your ecosystem as possible. It should be transparent. Some considerations I have that are not well organized, but more topics that I think should be addressed, to get to what I believe needs to be done for Libra Association success. I very much like the Move language and see a bright future for it, but compliance is the side of your efforts that need attention.

  1. Adoption of GTRI Trust marks structure for streamlining compliance with applicable regulatory entities, making it easier for all parties, including users to understand.

  2. Extend the trust marks to encompass regulation and standards, ie. FCPA, SEC, ISO and like compliance regimes, granted that current GTRI trust marks are oriented to US criminal justice applications.

  3. Audit independently to the Libra adopted trust marks on a regular or perhaps continuous basis

  4. Publicly available compliance data for all entities in the Libra ecosystem including regulatory and audit organizations. Setup the adopted trust marks under a Libra Association block chain structure, that can be the place where compliance and audit findings from all parties are exposed to public view.

  5. Fund active research and measurement of evolving identity mechanisms for all parties, with the ongoing need to achieve higher levels of identity assurance dictated by appropriate transaction risk. Mechanisms to drive extreme identity assurance where necessary and a corresponding need for extreme anonymity and privacy, while allowing for lawful criminal investigation, with proper judicial oversight.

  6. Development of a PKI that would be capable of certification with US Fed Bridge at Global Bridge Level possibly, and other national government based certificate authorities throughout the world.

  7. Harmonization of Cryptography Law internationally to achieve a baseline of acceptable technical standards, as an ongoing effort.

  8. Trust framework formation for Libra with common core, operating rules, etc. that could be inter-operable with existing government trust frameworks, achieving FICAM Trust Framework Solutions capability, or similar international structures

  9. Harmonization of Liability Law internationally to cover Libra legal responsibilities for operations, as an ongoing effort.

The overall thrust of these thoughts is to drive compliance, security, identity and audit to the highest possible level in order to overcome the concerns of those with traditional interests and giving confidence to people participating in Libra. Perhaps these things have already been considered, but it would be nice to see the plans for governance of the Libra Association. This will be an incredible effort, but it will make things better for us all, in this new world. You have the power to move things forward to advance electronic trust, like no other entity. Please take the lead while you can.

Good luck,

John Hemphill

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GTRI Trust mark project.

https://artifacts.trustmarkinitiative.org/lib/

An example of trust framework public disclosure.

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Anti-corruption efforts.

https://globalcompliancenews.com/anti-corruption/anti-corruption-in-the-united-states/?mailpoet_success=1

The mine fields of Encryption regulation.

https://www.hg.org/encryption-law.html

US Federal PKI.

https://www.idmanagement.gov/topics/fpki/

Trust frameworks and some understandable thoughts on Liability law. Even I start to get it. I heard Tom Smedinghoff at the business meeting of TSCP about 6 years ago. and it actually made sense to a non-legal brain like mine.

FICAM.

Trust framework international liability law.