The Next Big Thing in Crypto is DAOs

This was a brilliant introduction to DAOs, something I also believe is the next big thing to emerge from blockchain tech and the crypto ecosystem. Thanks for sharing!

hey IH, original writer here, just saying hi!

Two main takeaways from this article:

1. Before starting a DAO, always compare it to its web2 version. Example: before you start a crowdfund DAO, why wouldn't a web2 GoFundMe work just as well? for most cases, the centralized version would work just fine.

2. A DAO is only as strong as decentralized as its most centralized link. If treasury management or voting isn't decentralized, the organization can be co-opted by bad actors. If a DAO is ruled by a multi-sig wallet, what's stopping the voters from colluding with each other to steal the funds? In reality most DAOs are a mix of centralized and decentralized parts, with only the most critical parts decentralized - ie treasury management or voting.

If you liked this article or wanna talk crypto more, DM's always open at twitter.com/_michaellin . Cheers!