In the transformative era of Web3, which encompasses decentralized trust systems, blockchain, and distributed ledger technologies, the foundational principles of open source governance have never been more critical. This session aims to explore the intersection of open source governance with Web3, providing insights from leading experts. We will delve into the evolution of governance models, their applicability in decentralized contexts, and the resultant challenges and opportunities within blockchain ecosystems. As Web3 technologies continue to evolve, they challenge traditional governance models with their decentralized nature. This session will introduce the significance of adapting open source governance principles—transparency, accountability, and inclusivity—to blockchain and distributed ledger technologies. We will set the stage for a deep dive into how these principles can foster collaboration and innovation in decentralized environments. Attendees will gain a nuanced understanding of how to leverage open source governance to navigate the complexities of Web 3's decentralized systems, ensuring robust, equitable, and forward-looking frameworks for the future.