DAOs: A Major Part Of The Digital World Going Forward
DAOs are getting some attention these days. However, since it is new, it seems we need a warning. It is very dangerous now with a lot of stuff that will mirror the ICO craze and the early days of DeFi. For this reason, people should be careful.
In this video I discuss how DAOs are going to replace the corporation as the main business entity and will be a foundation for what ultimately becomes the Metaverse.
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I think you are spot on here. I won't be crying any tears for corporations, that's for sure.
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DAOs are more inclusive than the corporations.
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Yes, it's no wonder the mainstream media try to promote them as scams. Bring on the DAOs i say!
Well they need a lot of work. But it is a process just like everything else.
We have to keep building.
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I think you make good vids man. You're right that most of the ICOs from 2016-2018 were just intentional trash scams.
DAOs and NFTs have had a rough go with hacks, infrastructure and rug pulls.
In the DAOs I've been a part of or used to be a part of, several have turned out to be either outright bank-run-type rugs or the slower rug variety.
I was in Spartacus Finance, Iron Finance, Merlin, Goose, Geist, and Ellipsis - all turned to shit pretty much from their ATH's; all but Merlin is active somehow....
I guess what I've learned from these experiences, to add on to your comments about investing in an idea (you gave the example of a "railroad across the ocean"), is that the transmission, synthesis and concretization of an idea being carried by an "autonomous organization" is still very much in its nascent period.
DAOs do have power in their decentralized nature (though many right now can't be said to be decentralized).
We need infrastructural development broadly across crypto and adoption. We've talked about before on Leo and on Peakd that a vulnerability of DAOs, as crypto becomes more mass-adopted, is that cancel-culture is real and if a DAO were to get truly big enough, cancel culture could pose a significant threat beyond the normal crazy volatility of our sector.
There is still a lot to be done. I am not sure the cancel culture is really the threat. I get your point but, in the end, we are talking about something much bigger.
After all the FUD, we still see crypto growing at a pace that exceeds even the adoption of the Internet at similar stages. So people are drawn regardless of what the media is saying.
The key with infrastructure is to make this stuff easy. We still fall short in that area. Once we make things a lot easier, the FUD will have no impact whatsoever. People will flock in.
Sadly that is another couple years down the road in my guesstimation.
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My friend that's a lawyer has spent the past couple if months understanding the crypto market. His main focus was on DAOs and how he can adapt his legal studies to them.
He's quite certain that the idea of DAOs will transcend even the crypto industry as a whole.
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Well I am not sure transcend it since crypto will be intertwined in it. That is the point, crypto is not going to be its own industry but intertwined in everything.
Yet he is right, it will be huge. All businesses will be touched by the DAO going forward.
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There are states like Wyoming that already approved it as a legal business structure so I am not sure the basis of your conclusion.
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sorry friend but the DAOs that are to better understand the publication.
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It still makes me wonder what will be funding the DAOs in the future. Is it just going to be their own token? Or will people have to contribute their own funds to the pool? Another thing to consider is whether or not the DAO will be priced in dollars too because it's easy for people to track due to the volatility.
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What funds a corporation? It is simply another ownership structure.
Ultimately, the key is revenues.
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Summary:
The video discusses the potential of Decentralized Autonomous Organizations (DAOs) and DAO tokens in the future of technology and the cryptocurrency industry. The speaker acknowledges the risks associated with investing in DAO tokens due to scams and frauds but highlights the significant opportunities they present. The evolution of DAOs is compared to the historical development of corporations, suggesting that DAOs could become the predominant business structure in the digital realm in the next 10 to 20 years. The speaker emphasizes the decentralization and potential for autonomy in DAOs, predicting a shift in the business landscape towards this model.
Detailed Article:
The video delves into the rising importance of Decentralized Autonomous Organizations (DAOs) and their associated tokens within the cryptocurrency space. The speaker expresses optimism about the potential of DAOs while acknowledging the current risks and challenges in the space.
The speaker starts by pointing out the risks involved in dealing with DAO tokens, highlighting the prevalent presence of scams and fraudulent projects in the industry. Drawing parallels to the Initial Coin Offering (ICO) era, he warns investors about the speculative nature and potential pitfalls of investing in DAO tokens. Despite the existing challenges, he sees DAOs as a significant opportunity for the future, suggesting that they could revolutionize the business landscape.
There is a comparison drawn between the evolution of traditional cryptocurrencies, like fungible tokens, and emerging trends such as DeFi and NFTs. The speaker predicts that DAOs could be the next big trend in the cryptocurrency space, with the potential for substantial growth and development in the coming years.
The historical context of corporations is provided to underscore the potential significance of DAOs in reshaping business structures. The speaker explains how corporations emerged as a means of raising capital from European investors, emphasizing the evolution of this model over the years. He believes that DAOs could potentially replace traditional corporations as the primary business structure in the digital realm due to their decentralized and autonomous nature.
The speaker emphasizes the importance of keeping an eye on the development of DAOs, encouraging viewers to research and study them without providing investment advice. He suggests that the technological advancements and the shift towards a more autonomous system could pave the way for the widespread adoption of DAOs in various industries.
In conclusion, the video provides a thought-provoking analysis of the potential impact of DAOs on the future of business and technology. It underscores the need for caution amid the risks present in the industry while also highlighting the transformative possibilities that DAOs offer in reshaping the business landscape.