How DAOs Can Replace Corporations and Traditional Governments
Corporations lack personal liability, have hierarchical structures, and keep business practices closed. Traditional governments are inefficient and can be monetarily influenced by corporations. This results in corruption and tyranny in both entities. I think that if we properly utilize the technology behind Bitcoin, we can start to replace corporations and traditional governments with DAOs. (Distributed Autonomous Organizations). DAOs are inherently more efficient than both and are incorruptible. In order for this to happen, we need to lay the proper foundation for the DAO ecosystem. I will outline the steps that I think should happen to make this a reality.
The Bitcoin Core developers should implement the sidechain proposal.
Adam Back’s sidechain proposal would mean that anyone could create a new cryptocurrency pegged to bitcoin. You could move bitcoin in and out of that blockchain...
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