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Decentralized autonomous organizations are changing how biotechs are run
- jerojero 4y agoThe last hope of crypto to me are DAOs. I think the utility they might provide might be very good for streamlining governance. But at the same time, the more I learn about governance and worker democracy (coops and the like) the more I realise the flaws of these kind of DAOs as well. In reality, a DAO won't do anything that a worker/consumer coop is not capable of doing. But not only that, a DAO is not capable of doing most of the things that a worker/consumer coop can do. To begin with, it's not just about putting your money "somewhere" there needs to be accountability and if there is accountability then you need, well, people to blame and that's not something you can realistically do (right now) with DAOs. I find that the biggest challenge for DAOs is how they can interact with the real world. What does a DAO add to these biotech funding proposals other than, I guess, the hype. I do think we need to do so much more for decision making in these democratic structures and that technology can definitely help. But when I think about the complexity that the blockchain adds, I sort of struggle to see the benefits. But at the very least, I think this is a step in "the right direction" for blockchains. And I'm still pretty excited about DAOs, it's very good to see a space opening up that can lead to genuine useful tools. But hey, I am also excited for things like opencollective and other democracy-enabling tools so it's not that hard to please me :)