VCAOs

polynya@polynya

The reason why "DAOs" require traditional governance is because blockchains can only do strict global consensus The assumption is you need a token to organise said governance, but this is not true. Indeed, some DAOs would be much better off following the worker cooperative or consumer cooperative model, rather than the public company model, with democratic voting and vetos for checks and balances (instead of being controlled by few whales, as it is for almost all crypto projects now - not just not decentralized, but very centralized. VCAOs, if you will, pun intended) Yeah, I get it, token gambling is crypto's big usecase, but it doesn't have to be. Building the best possible protocol to attract the most users might not be such a bad idea for the long term

farcaster.xyz
by mishaderidder.eth13093 🥝 • 2y • warpcast.com
AI summary of the linked article

The author of this short post argues that DAOs need not follow the token-based public company model and could instead adopt a worker or consumer cooperative structure with democratic voting and vetoes, which they say would avoid control by a few large token holders. The post links this to the idea that blockchains can only reach strict global consensus, and it suggests that building a strong protocol to attract users could be a better long-term goal than token speculation.

avatar

Since WC doesn‘t work for those who are logged out
Characters remaining: 10,000

comment guidelines
HomeNewSubmit