-
as far as I can see, the fundamental difference between DAOs and co-ops is that in co-ops voting rights and ownership are typically split between all members equally, and in DAOs it's a function of how much equity you have bought or been given.Permalink Look on archive.org
♻️ 5 Retweets ❤️ 26 Favorites Mood 0
-
DAOs like to say the word "stakeholder", but in practice that just means "owner of tokens with voting rights"Permalink Look on archive.org
-
the blockchain is mainly relevant here because it means you can't identify the entities with control of particular tokens. this prevents DAOs from operating within the traditional co-op model: "one member, one vote" doesn't work if you have no idea even how many members you have.Permalink Look on archive.org
-
the blockchain is kind of magical in the complex things it can build and prove to be true. but it can only prove properties of the blockchain - and people don't live on the blockchain, just wallet addresses and their respective tokens.Look on archive.org
-
(as a reminder, these cryptographic proofs are proved by either: - voraciously consuming electricity - voraciously consuming hard drives - directly rewarding people in proportion to their existing capital (this is the "good" one))Permalink Look on archive.org