DAOs Will Never Work Without Governance Reform by Cointelegraph


Waves founder: DAOs will never function without governance reform

Decentralized Autonomous Organizations (DAOs) have been heralded as the future of governance, unleashing a more egalitarian approach to decision-making. However, decentralization of leadership is not a panacea that immediately leads to better results. To truly get the most out of a decentralized organization, steps must be taken to regulate weighted voting and token marking. If it’s not carefully balanced, it can explode internally – and some of it has already happened.

DAOs provide a model for managing a business or corporation that distributes voting rights to all members. there Usually there is no central authorityOnly the collective will. While this seems fair in theory, the opposite can be true for some models of governance.

Sasha Ivanov He is the founder of Waves Platform, a global public blockchain platform that reached a market capitalization of over $5.4 billion in 2022. It was publicly funded with 30,000 BTC, representing the second most successful crowdfunding blockchain project (after). The name refers to his background as a theoretical physicist and to the newly discovered gravitational waves predicted by Einstein a century ago.

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