SFT Transparency

Facts checked by auditors (eg KPMG, Deloitte)

What makes it transparent is that the auditors are doing the audits based on the public data on IPFS.

Transparency in this system is achieved through several key mechanisms:

Public Audit Trail

The system maintains an audit trail that the auditor can cross-reference with real-world data. This audit trail is publicly accessible and stored on the InterPlanetary File System (IPFS), ensuring that the information is open and accessible to the general public.

Immutable Blockchain Records: Every modification made to the system is recorded on a blockchain. These records are permanent and timestamped, making it impossible to alter or erase historical data. This ensures a reliable and unchangeable history of the system's activities.

Permissionless Structure

The system operates on a permissionless basis, meaning there are no hidden layers of individuals with the authority to approve or reject actions or changes. This open approach eliminates the possibility of manipulation by a select group of individuals, ensuring fairness and openness.

Curator Accountability

Even curators, including influential individuals, are subject to the same transparency requirements. Any actions or endorsements they make within the system are also permanently recorded on the blockchain, preventing the deletion or manipulation of their contributions.

Curators vs. Gatekeepers

in a permissionless system it's easy for anyone to create a scam, that's why instinctively most people want trusted gatekeepers to reject anything that looks bad before it can even exist. This would be great if it were possible to have such flawless gatekeepers, perhaps one day the great AI overlords will do all this for us. In the meantime, we have to deal with monopolistic, corrupt and incompetent humans, so the model for SFT is based on curators rather than gatekeepers. Everyone can do anything that they want on the public ledger, and there's a public trail so that we can shift the focus to real track records and fair and open competition. End users can filter and search everything according to all the same data that everyone else sees.