Accountability is Everything - Nicholas Wickman - Medium
In the previous post we discussed how DAOs are in truth neither fully decentralized nor truly autonomous. They are not fully decentralized due to the reality that unilateral action and decision-making is often necessary to get things done. They are not truly autonomous because aspects of their operations fall outside the scope of enforceable governance. What is more important than decentralization is accountability. We can permit centralized and even hierarchal structures in pursuit of our go...
Accountability is Everything - Nicholas Wickman - Medium
In the previous post we discussed how DAOs are in truth neither fully decentralized nor truly autonomous. They are not fully decentralized due to the reality that unilateral action and decision-making is often necessary to get things done. They are not truly autonomous because aspects of their operations fall outside the scope of enforceable governance. What is more important than decentralization is accountability. We can permit centralized and even hierarchal structures in pursuit of our go...
Decentralization Is Not Enough - Nicholas Wickman - Medium
Much ado has been made of decentralized autonomous organizations (DAOs). Broadly speaking, these projects inscribe their rules, rights and responsibilities to smart contracts which live indefinitely and immutably on the blockchain. Holders of the DAO’s corresponding crypto token may participate in votes which automatically invoke those contracts to execute functions and pass new legislation. The prominent early experiment of this scheme was aptly named The DAO. The DAO deployed to the Ethereu...
Decentralization Is Not Enough - Nicholas Wickman - Medium
Much ado has been made of decentralized autonomous organizations (DAOs). Broadly speaking, these projects inscribe their rules, rights and responsibilities to smart contracts which live indefinitely and immutably on the blockchain. Holders of the DAO’s corresponding crypto token may participate in votes which automatically invoke those contracts to execute functions and pass new legislation. The prominent early experiment of this scheme was aptly named The DAO. The DAO deployed to the Ethereu...
