DAO builders Panel: How to Build Sustainable Decentralized Autonomous Organization
There are no trusted human executives since the organization is governed and operated by smart contracts. The smart contracts are written and executed as computer code. Monitoring and enforcement of smart contracts are likewise by computer algorithms. There are weak or non-existent mechanisms for dispute resolution, since “the code is law” and all participants have agreed in advance to abide by the code of the smart contract.
Our guideline will be to find how DAOs are a new kind of corporate governance
ACT 1 – SETUP (Is DAO weakness its own strength ?)
The story of “The DAO” (2016) remind us that a DAO weakness is its own code, because millions of dollars of ethereum has been stolen due to a programmation failure.
Nevertheless, a DAO’s code is its own strength because it is the motive of our trust in a DAO.
So, do you think that a DAO’s code can be its only weakness ?
Do you think that we can achieve a “perfect” code for a DAO ?
Is the risk always present until a code failure has not been discovered ?
Is the absence of any human interaction in a smart contract DAO a good thing ?
ACT 2 – CONFRONTATION (How can a DAO gain trust ?)
DAOs allow the alienation of trust from the owners and managers of the firm. That’s the main reason why people tend to totally trust DAO and some other people do not trust them at all for the same reason.
Trust is at stake here.
Code/Smart contracts is/are what puts trust in a DAO, how can a DAO prove itself trustworthy ?
Do you think that a human intervention in a DAO can be good if checking were its only job (a sort of inspection role to avoid eventual code failure) as in Cardano blockchain ?
Can we assimilate the researchers action in CrunchDAO to a perfect integration of human within a DAO or is it more like a human action certified by a DAO process ?
Do you think of a particular DAO that has success to gain trust, and so users quickly ?
ACT 3 – RESOLUTION If trust is gained, DAO can work perfectly.
What can be their applications ?
Do you see a domain in which it can be particularly efficient ?
Do you think it will be massively adopted in the future ?
0:00 – Intro
4:46 – What is DAO?
6:36 – What happened millions of dollars were lost in DAO?
16:28 – Why do people put trust in a DAO to prove itself trustworthy?
24:18 – Can we assimilate the researcher’s action in crunch DAO?
30:21 – Do you think that a human checking like a board of humans just with an inspection role in a DAO can be a good thing
31:45 – Do you think of a particular deal or a method that has worked today and has permitted to gain the user’s trust?
37:35 – Do you think the future of DAO is more massive adoption firstly by firms to make their process easier and faster?
Session hosted by:
Yingzi Yuan / https://www.linkedin.com/in/yuanyingzi/