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Waves founder: DAOs will never work without fixing governance

Cryptocurrency Sep 18, 2022 05:00PM ET
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Waves founder: DAOs will never work without fixing governance
 
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Decentralized Autonomous Organizations (DAOs) have been heralded as the future of governance, unlocking a more egalitarian approach to decision-making. However, decentralizing leadership isn’t a magical solution that instantly leads to better results. To truly get the most out of a decentralized organization, steps must be taken to regulate weighted voting and tokenomics. If not carefully balanced, DAOs can implode — and some already have.

DAOs offer a model for managing a project or company that distributes voting rights across all members. There is usually no central authority, only the will of the collective. While this sounds equitable in theory, the opposite can be true for certain governance models.

Sasha Ivanov is the founder of the Waves Platform, a global public blockchain platform that reached market capitalization in excess of $5.4 billion in 2022. It was crowdfunded with 30,000 BTC, representing the second-largest successfully crowdfunded blockchain project (after Ethereum). The name references his background as a theoretical physicist and the recently-discovered gravitational waves predicted by Einstein a century ago.

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Waves founder: DAOs will never work without fixing governance
 

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