Back to democracy
Posted: Sat Dec 14, 2024 7:17 am
Before continuing, we need to touch on the democratic element again.
The reality is that web3 and blockchain have the mechanisms, both theoretical and practical, to offer greater participation for all users. However, in reality, there are significant obstacles that web3 israel girls whatsapp number evangelists do not sufficiently discuss.
A constant promise, like the one we find on the Ethereum website, is that in blockchain everyone can participate and decide. In fact, DAOs ( Decentralized Autonomous Organizations ) are a powerful mechanism to enable democratic participation of users in a project.
This organizational structure can be compared to the cooperative model, since it involves users with a common goal who come together to invest in blockchain projects, manage the issuance of cryptocurrencies or simply to join forces and buy something ( a good example is ConstitutionDAO, which tried to buy an original copy of the United States Constitution ).
Tokens, or the coins that power the operational DAO, provide voting powers to token owners . That is, if you have one token, you have one vote. Tokens grant other rights, such as fund management and other executive powers.
But DAOs are tools that exist in the web3 space; they don’t rule the space itself. Large blockchain projects are still startups and companies run by their founders and venture capitalists , not users. If executives want to make changes, users on the blockchain can’t do anything about it.
Many people in the crypto space like to cite the case of OnlyFans from 2021. This popular content platform, usually used by adult content professionals, found itself in trouble when it announced that it was going to ban this type of content, trying to gain points for its IPO. Most of its creators protested the decision and threatened to leave . The company ended up retracting the decision.
What happened? It's not that content creators had voting power and voted against this usage policy. No, they threatened to leave and destroy the platform's profitability in the process.
The reality is that web3 and blockchain have the mechanisms, both theoretical and practical, to offer greater participation for all users. However, in reality, there are significant obstacles that web3 israel girls whatsapp number evangelists do not sufficiently discuss.
A constant promise, like the one we find on the Ethereum website, is that in blockchain everyone can participate and decide. In fact, DAOs ( Decentralized Autonomous Organizations ) are a powerful mechanism to enable democratic participation of users in a project.
This organizational structure can be compared to the cooperative model, since it involves users with a common goal who come together to invest in blockchain projects, manage the issuance of cryptocurrencies or simply to join forces and buy something ( a good example is ConstitutionDAO, which tried to buy an original copy of the United States Constitution ).
Tokens, or the coins that power the operational DAO, provide voting powers to token owners . That is, if you have one token, you have one vote. Tokens grant other rights, such as fund management and other executive powers.
But DAOs are tools that exist in the web3 space; they don’t rule the space itself. Large blockchain projects are still startups and companies run by their founders and venture capitalists , not users. If executives want to make changes, users on the blockchain can’t do anything about it.
Many people in the crypto space like to cite the case of OnlyFans from 2021. This popular content platform, usually used by adult content professionals, found itself in trouble when it announced that it was going to ban this type of content, trying to gain points for its IPO. Most of its creators protested the decision and threatened to leave . The company ended up retracting the decision.
What happened? It's not that content creators had voting power and voted against this usage policy. No, they threatened to leave and destroy the platform's profitability in the process.