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Ok, here’s a story about #DAOs, their evolution, and their on-chain/off-chain nature.
Back in 2014, @VitalikButerin wrote what is essentially Ethereum’s original position paper on this subject, the famous DAO/DAC post on ethereum.org.
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Back in 2014, @VitalikButerin wrote what is essentially Ethereum’s original position paper on this subject, the famous DAO/DAC post on ethereum.org.
👇👇
DAOs were quite abstract concepts back then, there were no such things in production.
There was also a sense that DAOs were something new, a revolutionary species of digital organization. And that they didn’t exist before because it was *smart contracts* that enabled them.
There was also a sense that DAOs were something new, a revolutionary species of digital organization. And that they didn’t exist before because it was *smart contracts* that enabled them.
It should be no surprise, then, that the first DAOs put a heavy emphasis on codifying their functionality on-chain, within smart contract logic.
github.com/TheDAO
github.com/TheDAO
know thy enemy
(especially when they understand the tech better—and ELI5's it better—than 99% of folks here. And has witty ad-hom insults thrown in to entertain when the tech talk gets to heavy.)
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(especially when they understand the tech better—and ELI5's it better—than 99% of folks here. And has witty ad-hom insults thrown in to entertain when the tech talk gets to heavy.)
😬
12:56
"Crypto does nothing to address 99% of the problems with the banking industry bc those problems are patterns of human behaviour. They’re incentives, social structures, modalities..."
"Crypto does nothing to address 99% of the problems with the banking industry bc those problems are patterns of human behaviour. They’re incentives, social structures, modalities..."
"...The problem is what people are doing to others, not that the building they’re doing it in has the word “bank” on the outside."
