If Web3 wants to fix the world, it has to fix how DAOs are organized, DSCVR CEO rckprtr writes. Opinion for CoinDesk's CultureWeek
Decentralized autonomous organizations are an equitable, efficient means of distributing stakeholder power and resources. Removing the need for a central governing authority, they align with Web3’s decentralized, egalitarian ethos.– simply called The DAO – crowdfunded $150 million worth of ether in 2016, we’ve heard about their potential to change everything from politics to philanthropy. Yet, the early clamor has died down and engagement levels in existing DAOs remain low.
Record levels of fundraising demonstrated both the power and wide appeal of collective stewardship – until a $60 million hack sent The DAO crashing to the ground, almost taking Ethereum with it. The solution was a hard fork that took the network back to a point before the exploit, split Ethereum into two and altered the course of blockchain history.
, the so-called “financial flash mob” behind an unsuccessful bid to buy a copy of the U.S. Constitution.Within a week of its founding, ConstitutionDAO raised $47 million from almost 17,500 contributors but was outbid at auction. Returning the funds proved When a DAO comes first, social interaction is automatically forced and inauthentic – in part because of the financial incentives created by tokens. In contrast, thriving communities must be made of individuals who connect through shared interests . A typical scenario would be coalescing first on social media, perhaps evolving from a Discord or Telegram group where folks chat, share ideas, offer tips, ask one another for help. They are growing together, creating shared values and building trust.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Female Athletes Are Rethinking College Choices Due to Abortion Laws in Some States🏀 The Supreme Court’s decision to overturn Roe v. Wade has added another complicated layer for college basketball coaches to navigate.
Read more »
What Is Core DAO? Features And Tokenomics | CoinMarketCap.Coredao_Org (CORE) is a turing-complete and EVM-compatible layer-one blockchain. 💪 CMC takes a closer look into its core ecosystem, team as well as its tokenomics 🔎
Read more »
DAO Maker founder builds game based on abandoned Logan Paul project in just 30 daysDAO Maker founder creates NFT game 'Degen Zoo' in just 30 days, inspired by LoganPaul Crypto Zoo concept. Over 115,000 wallets have registered, pledging $700M. All profits to be donated to charity.
Read more »
Lilly Insulin Value Program | Lilly Insulin AffordabilityLilly is committed to helping people with diabetes get the medicine they need, regardless of whether you have commercial insurance or no insurance. Learn more about how Lilly may be able to help with potential cost saving solutions.
Read more »