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RE: What DAO would you create?

in #beyondbitcoin8 years ago (edited)

Those ideas would only be DAOs in terms of their governance (assuming the governance was decentralized), because they would not have a business model that would be sustainable. What you saw with Ethereum's DAO was simply a massive, greedy crowdfunding orgy. Sure, you could apply that anywhere that you could round up $100 million dollars' worth of suckers. But you'd run through it and then what? Would it fund enough innovation to create a self-sustaining ecosystem? Possibly, but I doubt it. You might as well just have a charitable organization or a bottomless pit for VC.

The BitShares community has tried creating a number of profitable, sustainable businesses on the blockchain (original ideas included the exchange, lotteries, DNS, music, and insurance). I still remain hopeful with a few of those, but the truth is that even the best developers and some decent small-scale funding have not yet produced anything that is fully self-sustaining, except for perhaps the BitShares decentralized exchange (arguably, because I'm not familiar enough with its economics or technology to understand if it is able to adequately support the necessary ongoing maintenance/development). Point is, if you want to fund a trip to Mars and put the masses in charge, then fine, but to me that isn't a true DAC or DAO unless you have sustainable funding.

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DAO's doesn't have to be only about "greedy crowdfunding orgy". Did you read the latest coinbase article on how it could be used to save whales. Limitless possibilities really.
http://www.coindesk.com/researchers-dao-save-the-whales/

I suppose any mission to mars would have to provide a profit or tangible asset for the token holders otherwise there would be no incentive to invest.

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