The Institute will be governed by a Board of Governors, with each Governor serving a five-year term. Initially composed of three founding executives from Agingo Corporation, the Board will expand to 9 members over the next few years. The terms of the Governors will be staggered. The Governors will include individuals with experience in innovation theory, in the application of mathematical theory, in complex software development, in the governance of central banking systems, in financial regulation, in the operation of banking and payment systems, and in the law and practice of privacy protection.
"The Governors of the Institute will constantly monitor the uses, volatility and value of the NOOB token"
The Governors of the Institute will constantly monitor the uses, volatility and value of the NOOB token – they will seek to assure that increases of value reflect increases in use, in applications, in cross-blockchain interaction, and in value relative to other blockchain tokens. There are no absolutes in this assessment; the Governors will obviously be making judgements within ranges; as the use and application of the NOOB token and NOOB blockchains increases and matures, the judgements and ranges will become more accurate and nuanced. The Institute recognizes that it is creating a new tool to move and evaluate economic and financial information – a way to make payments, to share information, to effectuate a wide range of transactions and exchanges, and to conduct basic commercial arrangements in a verifiable manner without the paperwork burden that often delays commerce at the micro-economic level – all while maintaining a better balance in the control of information by individuals and organizations.