Role of governance in a business network

Having reviewed the various business models, we can see that the control that each participant has will vary based on that model. By properly understanding the model and the interests of each party, we can create a decision process that makes sense to everyone.

So, while we understand that governance is about the process to reach a decision, should every single business, operational, and technical decision be managed and tracked by the governance process? Some would argue that only important topics should be covered by the governance process, but then what are the important topics? This is the role of a governance model: defining each decision domain and making sure everyone understands the level of ceremony (that is, the formalisms and official processes) to each category of decision. A bug fix to a smart contract may not require much attention, but an upgrade to the blockchain technology may require a heightened degree of focus. Agreeing upfront...