My subjective opinion on what I have seen and heard about DAOs

DAO has been a relatively hot topic since 2021-2022. This topic that was very popular abroad half a year ago seems to have finally arrived in Taiwan in 2022.

For readers who don’t know what the DAO city is, let’s start with popular science. DAO is called a decentralized autonomous organization. Usually, it can vote according to the equity certificate (TOKEN or NFT) held by the holder, so that the project party can execute the vote. Results of the project to achieve the concept of governance

When such a concept was first launched, many people who lived in Peach Blossom Land and Utopia seemed to think that such a concept and model had become the savior of retail investors, but this is not necessarily the case in what I have seen.

First of all, from a structural point of view, DAO is not far ahead of its time. Isn’t holding equity certificates to vote at the annual shareholders’ meeting of ordinary companies? Let the project party execute according to the voting results. The difference is not very big. Since the launch of a limited company does not create a utopia, can such a concept be transferred to the chain and implemented into a utopia?

Moreover, in the current situation, it is usually their own people who will hold the tokens of the project party, that is to say, they can vote to win all retail investors by themselves. Is there a concept of decentralized governance? Except for the annual voting It does not have any cross-generational significance except that it can be raided at any time.

What's more, there is no legal protection such as corporate law and civil law on the chain, and the project party can also be lazy or not implement the voting results according to their wishes.

And many incidents that have exploded on the chain seem to prove that such an organizational model is still immature, such as the famous JUNO incident ( blockchain tram problem! Is it reasonable to discuss the forced expropriation of assets from the Juno airdrop incident? | Anue Juheng- Lianwen (cnyes.com) used to be a big deal, but it was rarely known in Taiwan. The SOLEND incident a few days ago also showed that the model may not be mature yet. The VIRES toilet closing incident made users’ funds QQ. Most people seem to know little about these things.

However, the recent popularity of Taiwan has even made me feel like cutting leeks across time and space. The law of the time machine does not deceive me.

To sum up, DAO cannot become the online utopia described by many people for the time being under the circumstances that many project experimental cases have failed. Many project parties always avoid the important and do not discuss in depth. road. Investors are advised to pay attention to the risks, and don't let their hard work of sweating french fries at McDonald's go to waste

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