Quadratic Voting - Making Your Vote Count!

Transcript

have you ever felt your vote doesn't matter it's just a drop in the bucket don't worry you're not alone this is very common [Music] hello all JT here and today we are diving into quadratic voting and how it can transform the way we make decisions and vote on proposals politics and even presidents but first let's dive into how some of the current voting systems work one of the traditional ways of voting for political elections for instance is one person one vote each person goes to the poll chooses the option or the candidate they want and casts their

single vote in a lot of ways this system of voting is simple and fair but as the pool of Voters gets larger and larger it can quickly become discouraging I mean I don't like this option I'd much rather vote for one of the other two whatever it probably won't make a difference I guess I'll just go with this one how about another way of voting rather than one vote per person let's give each person a few credits to vote with let's say three votes ooh this time I can have three votes I think I'll cast them here two in this one and one in the other and now the community puts in their votes

oh let's not forget about the local whale the whale in this situation could be akin to a person with tons of influence and or money over other voting credit holders this could be like a political action committee with tons of followers or in the case of companies or Dows it could be like Venture capitalists who are granted extra voting power when it comes time to make decisions oh look here comes the rest of the Wales followers now well in this situation I don't know that my vote really had much say in there either I mean look at that so how does quadratic voting come in well it's designed to address some of

the shortcomings of traditional voting and it does this by giving individuals more freedom to express their preferences with a more accurate representation of collective decision making this is super handy for instance in an election environment with a dozen candidates or even a dozen proposals instead of having a single vote let's start each person with 100 voting credits represented by these fuzzy balls aren't they so cute now they can be redeemed as votes represented by the tokens or the poker chips here toward any of the options or proposals but here's the math say it with me square root say it again square

root voters can redeem these credits within a square root system well what is that the more credits a person uses to create a vote to the same jar the more and more expensive it is to give additional voting power voila we have a voting credit curve so let's say each person starts with 100 voting credits and we have our quadratic voting set to be equal to the square root of the credits they put in by each individual this person will only be able to contribute a Max total of 10 votes to any one candidate because the number 10 is the square root of 100. let's break it down starting with one credit which

would equal one vote the next viable way to get to two full votes is to use four credits how about three votes three times three equals nine credits 16 credits gives you four votes and so on remember when I said giving 100 credits we'll give you 10 votes well it is possible to get more votes in the election than that using only 100 credits voting more than one candidate or proposal achieves this outcome here goes I really like these two candidates here's my 100 credits instead of my choice being restrained to one candidate

I can vote for both by dividing my credits to generate my voting tokens so I'll put 64 of my credits towards this proposal which counts as eight votes because eight is the square root of 64. and the remaining 36 credits towards this candidate which creates six votes and instead of voting for one of them with my original 100 credits that generated me only 10 votes I'm able to extract 14 votes that more accurately represent my preferences by splitting it between my two favorites instead of forcing me to only choose one remember our whale from before

holy cow under this system they have 900 credits but don't be nervous they won't be able to collude as easy as you may think in this quadratic environment what is the square root of 900 30. they are now worth 30 votes if they choose to go towards one proposal that seems like a lot but remember it takes just a few people with a few credits to dilute this whale or voting group and so it goes if I and most of the community members hold 36 credits the square root Nets us six votes each towards one proposal meaning it would only take a group of five of us to counter one of

the whales even though we have less token influence individually and if another few people also agree we can easily make a group of smaller holders votes matter this method can also influence the whales to diversify their boats and as we diversify ours to include more of the things we'd be happy with as a fair group consensus the more smoothed out the final decision quadratic voting is a powerful tool to bring in a balance of power between money and people as well as people and their options available to them something to also consider is that it's important when using quadratic voting to

also have proof of humanity making it so one larger whale can't simply break up their large Holdings quietly into several smaller ones this prevents a person being able to vote multiple times get coin passport is a great example of how this can be done think of it as a non-kyc form of voter identity if you want to learn more about quadratic voting get coin passport and the green pill movement check out the links in the description below visit us at greenpill.network on behalf of green pill my name is JT cheers and big hugs from Kansas City hey that was fun I'm glad you watched all the way to the end make sure you

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