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84 sats \ 3 replies \ @nullcount 6 Nov 2023 \ parent \ on: a case for altcoins? bitcoin
There were lots of DAOs created in the last hype cycle. Many DAOs are decentralized in name only because they weren't designed to eliminate the Principal Agent Problem. Thus they are ultimately governed by some level of trust and at that point, just use a database.
The oracle problem is also something to consider. A blockchain can only verify its own state. The moment you try to anchor blockchains to real world events, you require an oracle that introduces additional trust.
Look into eCash, Cashu, and Federated eCash on BTC. It has potential to facilitate DAOs
i'll check those out, thanks!
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A good read on the subject I just found
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whoa yeah this is a good read ... at the very end there's a quote that sums up i think what i was going for (they put it far more eloquently): "... with the necessary infrastructure in place, a self-sovereign system could spawn digitally native capital markets at scale and could contribute to entrenching Bitcoin as a standard unit of account."
a lot to chew on here ... very good find, thanks!
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