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> the original project leaders will be excised entirely and replaced with his friends, and they'll be selling the bible next year This is a great example of a
by profmonocle 4y ago
> the original project leaders will be excised entirely and replaced with his friends, and they'll be selling the bible next year
This is a great example of a major flaw in DAOs - crypto has no power over meatspace. You can write all the smart contracts in the world, and they can even be bug-free, but none of that matters when the point of the DAO involves a physical object that's in someone's physical possession. That's when you actually need people you can trust, and a legal system if they let you down.
- aaaaaaaaata 4y agoAttorneys handle this in most jurisdictions. Are there no DAO attorneys springing up yet?
- WorldMaker 4y agoThere's a chicken-and-egg problem there that most "code libertarians" think that code is a better "more objective" adjudicator than a human-scale justice system with things like human attorneys involved and consequently there's a lack of standardized software controls in "smart contracts" that would allow for human-scale intervention by authorities or even acknowledge the existence of outside authorities beyond the code of the smart contract itself, so there's no clear and natural "jurisdiction" there at all. Attorneys will get involved in just about anything if they think they can make money (fees) from it, but so far there are intentionally no direct "jurisdictions" to enter (what country is a globally distributed software program answerable to? the data center that last ran a bit of it? the author's? the victim's? There aren't enough laws on the books today to answer these questions), and most "smart contract" developers see this lack of "jurisdiction" a feature, not a bug.