less than 1 minute read

I have spent some time learning about different axes that make up the crypto community. There is currently a lot of energy being focused on gaming and art, as we are seeing with NFTs and the Metaverse. Another “growing mainstream” concept is the DAO: Decentralized Autonomous Organizations. DAOs are a way of operating an organization that is represented by rules that are encoded as a computer program that is transparent and controlled by the organization members itself. There is no influence of any central government in these organizations. DAOs can maintain transactions and the rules of the organization on a blockchain.

It is becoming mainstream for people in the crypto community to hear of everyone creating their own DAO. However, the majority of the use cases that I encounter for these DAOs are to grow financially by investing / purchasing NFTs and have very little to do with fixing the incentive structures in traditional systems with respect to governance and ideation. Additionally, the applications of these DAOs are highly polarized to non-highly regulated spaces (i.e, entertainment).

When “we” (the community of individuals who promote the utility of DAOs) claim that incentives are broken and that everything should be decentralized, we are referring to rigid, highly complex and regulated spaces (i.e., healthcare, finance, education, government).

I am spending some time thinking more carefully on how we can use these types of technologies in more regulated communities (i.e., education , healthcare).