The New York Times: “Reality Intrudes on a Utopian Crypto Vision.” Bloomberg: “The Next Crypto Bust May Be Spelled D-A-O.” The Guardian: “Are blockchain-based DAOs really a utopian revolution in the making?”
Seemingly every week, another old-guard media outlet echoes the talking points of defenders of the status quo financial system who fear and distrust the economic opportunities that will be unlocked through the power of decentralized autonomous organizations (DAOs). While publications are right to recognize the unsurprising early growing pains of DAOs, this sort of hand-wringing misses the forest for the trees when it comes to the impact of DAOs.
Isfandiyar Shaheen is the founder and CEO of Wagmi Labi Inc. Previously, Asfi has managed private equity firm Cyan Capital, served on public company boards for Engro Corporation and Engro Foods, helped create cellular tower sharing company Towershare, acquired by edotco Group in 2017, and co-created a plan to deploy optical fiber on electrical power lines as an Entrepreneur in Residence at Facebook Inc (NASDAQ:FB).