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RE: Is The DAO going to be DOA?

in #crypto-news8 years ago (edited)

Looks like a blogger on Financial Times has picked up on Dan's blog post,

"To the contrary, because most of the tech-anarcho crew seemingly think history is bunk, we’ll just direct you to this. A telling account of the lessons learnt (all of the above basically) from a recent incarnation of a DAO-style project called Bitshares."

here is some more analysis,

We won’t go on about how the world has had 100 years (or more) of feedback with respect to what happens when you remove the professional executive/management function from corporate identity, or transfer all day-to-day decision making to amateur committees. Any cursory review of modern history (or a quick read of Animal Farm) will flag up the problems: indecision paralysis; wasted time and resources on voting and bureaucracy; entirely non-diplomatic means of grabbing power just to get things done; uninformed decision making; exploitation of the ignorant; tragedies of the commons scenarios and last but not least: a lack of skin-in-the-game accountability for poor decision making leading to post-facto due diligence processes with dire consequences for capital, human resources and environments.

We won’t even mention that $110m raised in illiquid tokens based on mark-t0-market valuations is akin to a paper profit only, and might create a helluva Ether currency collapse if it’s actually spent on resources in the real-world…

To the contrary, because most of the tech-anarcho crew seemingly think history is bunk, we’ll just direct you to this. A telling account of the lessons learnt (all of the above basically) from a recent incarnation of a DAO-style project called Bitshares.

it's a good read.

http://ftalphaville.ft.com/2016/05/17/2162084/more-decentralised-autonomous-organisation-dao-mysticism/

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Too bad they require you to log in to read it.

Search the article title on google then follow the link. This work with WSJ articles too.

More decentralised autonomous organisation (DAO) mysticism

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