Maks
@baronhusak
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Though well-written and inspirational, I believe this post fundamentally misunderstands Ethereum and blockchains.
Ethereum's distinctive property is objective, strict global consensus, and absolutely nothing else. It's great for usecases that require strict global consensus, but it's impossible for everything else, because Ethereum cannot parse any subjectivity or rough consensus at all.
As such, while money, contracts, governance, identity, law are presented as examples, Ethereum can only parse very, very limited forms of the above, where it's objective. In some cases, like governance or law, it's almost entirely subjective with negligible scope for Ethereum to help.
99.99% of economics, institutions and the like are deeply human and subjective, which Ethereum or blockchains in general cannot interpret at all. Indeed, we've seen many a times how forcing subjectivity into objective code has led to many disastrous outcomes in crypto.
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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 11 replies
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