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A DAO is more like a specific corporate governance mechanism than a company. For example, ConstitutionDAO will be a non-profit, with a non-profit board etc. I
by wtvanhest 5y ago
A DAO is more like a specific corporate governance mechanism than a company. For example, ConstitutionDAO will be a non-profit, with a non-profit board etc. I presume they will put things up for vote using the DAO.
If it is executed flawlessly it will prove DAOs as a viable corporate governance mechanism. If it fails or struggles, there will be learnings.
- rank0 5y agoExcept owners of the governance tokens have zero legal authority. Traditional shareholders have actual legal voting power. Nothing is stopping this group from ignoring governance token votes.
- javert 5y agoCorporate governance by voting has already been proven to be viable. That's how publicly traded companies work. A DAO is not special. It's just an unregulated international corporation.
- arcticbull 5y ago> For example, ConstitutionDAO will be a non-profit, with a non-profit board etc. Ok but you can just form a 501(c)(3) whenever you want right, which actually has some force of law over its activities. > I presume they will put things up for vote using the DAO. But... they don't have to. It's all fun and games until there's a disagreement over what to do. The way in which a meaningful disagreement is resolved is what will prove the viability of this model. When everyone's aligned already, it doesn't really prove much.