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From: R. Feldman
Subject: Token governance
Date: 13 Adar II 5782
Reb Kovacs raises the core difficulty. The chair would note:
1. A registry requires governance. 2. Governance requires authority. 3. But the specification describes observational context, inherently local and perspectival.
Who has authority over perspective?
If we establish a registry, we create a new problem: who decides what goes in it? If we do not establish a registry, we have the current problem: tokens mean whatever their users intend.
We faced this exact question when drafting the date specification. R. Halevi argued then that we should not presume to standardize what communities have always determined locally. That debate took three months.
—Yaakov Feldman, Chair
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