“The election is a novel experiment in corporate governance and the decentralized business models,” writes Ritu Lavania, and, per one candidate, a bid for transparency in the otherwise opaque finance world. The 5 candidates have spent recent weeks campaigning, holding AMAs, and participating in public debates. Sushi DAO, which operates the crypto exchange SushiSwap, will hold an election for its next CEO (aka its “Head Chef”) on September 26. Sushi DAO holds Election for the Next Chief Executive (The Crypto Times) Categorizing decisions as “convex” (better suited to a coin flip) versus “concave” (better suited to compromise), Buterin wrote that decentralized decision-making can slow things down when it comes to convex issues but provide better answers for concave issues, thanks to the “wisdom of the crowds.” In a blog post, Vitalik Buterin argued against the position that DAOs are necessarily more inefficient than traditional corporations when it comes to decision-making, though he noted that DAOs can benefit from some centralization in certain situations. “DAO mergers are not impossible going forward, but it’s becoming clearer that supposedly unified communities can fracture whenever there are multiple economically incentivized groups.”Įthereum co-founder Vitalik Buterin defends DAOs against critics (Cointelegraph) “Governance will always be a messy issue, especially in times of crisis,” writes Daniel Kuhn. Now the two have dissolved their union, after one of Rari’s products was hit by a $80 million attack, leading to a relationship-ending conflict over how to reimburse users. When two hot DeFi players, Rari Capital and Fei Protocol, decided to merge, it was a “massive moment” for the space. Lessons From a DeFi DAO Divorce (CoinDesk) Web3 has the potential to right many of these wrongs, Saito argues, by making the internet accessible to everyone, energy efficient, censorship resistant, respectful of user privacy, and algorithmically responsible. “The problem with this concentration of power is that it can be abused,” writes Daniel Saito of StrongNode, noting issues like censorship and non-consensual data collection. Web2 has centralized power among a few large corporations, many of them search engines born in the late 1990s and early 2000s that now serve as gatekeepers for the internet. This has dramatically accelerated the drafting process, which is usually led by bureaucrats and involves numerous meetings spread out over months.Ĭreating the internet we deserve: The case for Web3 (Venture Beat) Politicians, Not the Usual Bureaucrats, Take the Reins on Web3 in Japan (CoinDesk)Īfter Japan’s Prime Minister Fumio Kishida named Web3 an area for economic reform, politicians began a full court press to push the sector forward by making policy recommendations and publishing white papers. You can use the button link below to book my time.Īnd now, here’s all the other Web3 news you missed this week. Whether we’re going through a similar moment wiht web3 remains to be seen, either way its clear nobody wants to be caught unprepared.Ī personal note: So far, my consulting/advising has been with people who are already in my network, but today I’m excited to share that I’m now bookable for anyone through Intro - a new platform designed to democratize access to industry experts in time segments as short as 15 min. As the internet was rapidly changing how businesses operate and the technology struggled through the early bumps in the road - people started to recognize that the internet presented both threats and opportunities. Struggling to hire experienced crypto/web3 talent due to both the lack of an experienced talent base and their attractiveness as an employerĮducating and preparing their workforce for changes to the technology landscapeĪ common analogy I hear to the early internet days, the mid 90s. Keeping up with the rapid evolution of trends within different web3 sectorsįinding an authentic entry point to the web3 worldĬoming up with the right way to experiment with crypto/blockchain within the constraints of a larger organization The most common challenges I’ve seen are: My time advising larger corporations has really helped me understand the perspective of companies outside the industry and the challenges they’re facing as they navigate the development of web3/crypto. It has been a natural and gratifying way to share what I’ve learned working as an operator over the past 10 years in web3 and 20 years in tech. For the past year, I’ve been consulting and advising companies in 2 main areas: their web3/crypto/blockchain strategy and helping startups scale up.
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