/biz/ - Business & Finance

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Anonymous Tue May 26 08:17:11 2020 No.19345556 [Reply] [Original]

Biz does not understand what this is.

It all comes down to collective intelligence vs. individual intelligence. If you believe that collective intelligence leads to better results, then DAOs are the future and DxDAO is your best bet since it's the most well funded one and with the most members.

Good products are the result of good execution (even shit products can get some level of success if executed to perfection).

DAOs ensure that all decisions either have a clear outcome (pass / fail) or are carefully considered with a clash of ideas from a range of individuals leading to the best decision.

Traditional companies can decide to use their funds however they like and can make mistakes even if they are well meaning since at best they will have internal discussions but that's still a limited subset of people that could easily miss a huge issue because of lack of context in other areas.

DAOs ensure funds are used in the most optimal way possible with absolutely 0 risk of exit scam (unless the community votes for that which would not be in their best interest) and also creates a very competitive market where devs (or any other contributors) who do not deliver are not re-elected by the community (unless strong proof is provided that they will do better).

Why does crypto even exist? To remove the need for trust, that's the whole point of decentralization. Well guess what, you need to trust the teams of the project you invest in since they control the funds and they make the decisions and there's nothing you can do about it. With DAOs, no one controls the funds (well, the DAO itself does), it's in everyone's best interest for the DAO to be as profitable as possible.

Here's a good podcast for those who may be interested in learning more:
https://epicenter.tv/episodes/271/

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