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Update docs/source/corda-network/index.md
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@ -8,42 +8,40 @@ Corda Network consists of Corda nodes operated by network participants, in which
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Corda Network enables interoperability – the exchange of data or assets via a secure, efficient internet layer – in a way that isn’t possible with competing permissioned distributed ledger technologies / legacy systems.
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The network is due to go live in November, after which it will be governed by R3. An independent, not for profit Foundation is currently being set-up which is intended to govern the Network from mid 2019, after a transition period.
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The network is due to go live in December, after which it will be governed by R3. An independent, not for profit Foundation is currently being set-up which is intended to govern the Network from mid 2019, after a transition period.
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The Network will comprise of many sub-groups or ‘business networks’ of participants running particular CorDapps, and
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such groups will often have a co-ordinating party (the ‘Business Network Operator’) who manages the distribution of the
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app and rules for its use.
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The Network will comprise of many sub-groups or ‘business networks’ of participants running particular CorDapps, and such groups will often have a co-ordinating party (the ‘Business Network Operator’) who manages the distribution of the app and rules (including around membership) for its use.
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Corda Network will support the operation of business networks by industry-specific operators within the Network. There
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will be a clear separation between areas of governance for the Network and for individual business networks. For example,
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rules around membership of business networks will be controlled by its Business Network Operators.
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Corda Network will support the operation of business networks by industry-specific operators within the Network. There will be a clear separation between areas of governance for the Network and for individual business networks. For example, rules around membership of business networks will be controlled by its Business Network Operators.
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Governance Structure
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--------------------
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We at R3 believe it is critically important that we should not control Corda Network going forwards, and that it should
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be governed transparently to its members, with a fair and representative structure that can deliver a stable operating
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environment for its members for the long term.
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We at R3 believe it is critically important that we should not control Corda Network going forwards, and that it should be governed transparently to its members, with a fair and representative structure that can deliver a stable operating environment for its members for the long term.
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After legal advice we have decided to set up a Corda Network Foundation, a not-for-profit legal entity residing in the
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Netherlands, known as a Stichting. This is a legal entity suited for governance activities, able to act commercially,
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with limited liability but no shareholders, capital or dividends. It is defined in a set of Articles of Association and
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By-laws.
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After legal advice we have decided to set up a Corda Network Foundation, a not-for-profit legal entity residing in the Netherlands, otherwise known as a Stichting. This is a legal entity suited for governance activities, able to act commercially, with limited liability but no shareholders, capital or dividends. It is defined in a set of Articles of Association and By-laws.
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A Foundation will enable Network members to be involved with, and also understand, how decisions are made (including around issues of identity and permission), building trust and engagement from a wide range of stakeholders. We believe this will bring about the best decisions and outcomes for the Network’s long-term success.
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Its governance bodies shall include
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* A **Governing Board** (‘the Board’) of 11 representatives (‘Directors’).
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* A **Technical Advisory** **Committee** (‘the TAC’), comprised of representatives of Member organisations.
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* A **Governance Advisory Committee**, comprised of representatives of Member organisations.
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* A **Network Operator** (‘the Operator’), charging the Foundation reasonable costs for providing network and
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administration services, paid by the Foundation through membership funds, and accountable directly to the Board.
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* A **Technical Advisory** **Committee** (‘the TAC’), comprised of representatives of Participant organisations.
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* A **Governance Advisory Committee**, comprised of representatives of Participant organisations.
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* A **Network Operator** (‘the Operator’), charging the Foundation reasonable costs for providing network and administration services, paid by the Foundation through membership funds, and accountable directly to the Board.
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Operating on behalf of:
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* **Participants** (‘Participants’), which is open to any organisation participating in the Corda Network, independent
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* **Participants** (‘Participants’), open to any legal entity participating in the Corda Network, independent
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of R3 membership and direct Network participation.
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For more information about the intended governance of the network, please refer to the Governance Guidelines document
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[here](https://groups.io/g/corda-network/message/96).
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For more information about the intended governance of the network, please refer to the Governance Guidelines document [here](https://groups.io/g/corda-network/message/96).
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How to join
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-----------------------
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TBC
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