While the problems DAOs might solve are real, DAO proponents misunderstand the nature of these problems and offer a tool that creates more harm than benefit.
Will DAOs revolutionize media or just create playgrounds for the rich?
Over the past few weeks a virtual flash mob called the ConstitutionDAO, with thousands of cryptocurrency fans, crowdfunded almost $45 million to buy a copy of the U.S. Constitution. Although they lost the auction, they had already spun up a line of sweatshirts, emblazoned with emojis, distributed by the newsletter company MorningBrew. The plan? Purchase […]