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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2022\/07\/25\/crypto-community-web3-dao-democracy-upstream-alexander-taub-chain-reaction-podcast\/<\/a><\/br> Ever since a group of chronically online crypto enthusiasts tried to buy a copy of the U.S. Constitution<\/a> in a high-profile bidding war, DAOs (decentralized autonomous organizations) have been at the forefront of discussion in the web3 world. How are they different from companies, you ask? DAOs have been lauded for their ability to give everyone in a community a voice by involving them in decision-making and recording those decisions in a transparent, immutable manner on the blockchain. But the utopian vision some people have for DAOs seems far off from the reality today.<\/p>\n This week on Chain Reaction<\/a>, the TechCrunch podcast about all things web3, we talked with Alexander Taub, CEO and co-founder of DAO tooling platform Upstream<\/a>. Upstream started as an online community for professionals to connect with each other during the pandemic and pivoted to providing mechanisms to manage DAOs when the blockchain-based communities took off during crypto\u2019s bull run in 2021.<\/p>\n You can listen to the full episode below:<\/strong><\/p>\n While some see DAOs as a catch-all solution, Taub argues that there are a few use cases for the structure that make sense today while others aren\u2019t as clear. Taub cited investment clubs, where people pool money to purchase a digital asset, and NFT projects looking to give back to their communities as some of the most intuitive use cases for DAOs.<\/p>\n \u201cDAOs, blockchain \u2014 it\u2019s programmable money. That\u2019s really what it is. So you can program money to do what you want it to do. Not everything, not every community, requires money. If I want to share cute photos of my dog with other people who want to share cute photos with their dog, I don\u2019t necessarily need any money there,\u201d Taub said.<\/p>\n Taub attributed the DAO\u2019s rise in popularity to the fact that many DAOs have enabled members to make money in new ways, a view that makes sense in light of his example of investment clubs. But as for democratizing decision-making, Taub said it is up to each individual DAO whether or not it will really operate that differently from a centralized corporate entity.<\/p>\n \u201cI think a lot of people look at the word DAO, and they think the \u2018D\u2019 stands for democracy. And that\u2019s just not [the case]. People aren\u2019t sitting in a circle singing Kumbaya and being like, \u2018oh, we\u2019re all going to do this together.\u2019 That can happen, and that does happen \u2026 But that\u2019s just like saying there\u2019s only one way to start a company or one way to launch a project or product,\u201d Taub said.<\/p>\n DAOs, like companies, have unique shareholder voting structures, Taub said. Just because many DAOs strive to give their members an equal say doesn\u2019t mean they are all effective in achieving that goal, particularly when many of them offer voting rights based on the number of tokens each member holds.<\/p>\n \u201cIf you want it to be a democracy, great. If you want it to be a dictatorship, people shouldn\u2019t join your DAO if they are not okay with your dictatorship,\u201d Taub said.<\/p>\n You can hear more of Taub\u2019s interview by listening to our latest episode. Subscribe to Chain Reaction on Apple<\/a>,\u00a0Spotify<\/a>\u00a0or your alternative podcast platform of choice to keep up with us every week.<\/em><\/p>\n<\/p><\/div>\n <\/br><\/br><\/br><\/p>\n
\nThe \u2018D\u2019 in DAO doesn\u2019t stand for democracy, says Upstream CEO Alexander Taub<\/br>
\n2023-01-20 22:25:54<\/br><\/p>\n