The useful part the DAO idea is the trust-minimized smart treasury. Money pools & cash flows with a wide variety of possible dry-code rules. *Not* any sort of straightforward substitute for an organization.
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On-chain pools bring additional trust-minimization properties to cash distributions above doing a bunch of simple 1-to-1 payments. For example prevents payor from discriminating between payees: once sufficient funds are in the pool everybody gets their cash flow.
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This is probably a more important idea than non-cryptocurrency tokens themselves, which merely represent a hoped-for, fully trust-based cash flow or provision of service. But the valuable idea here is not utopian "organizations" -- it is trust-minimized pools and cash flows.
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Yet another thread about trust-minimized code derailed by a hoard of governance zombies.
New policy thru Halloween: if you so much as mention the word "governance" on my timeline, you will be blocked. Judging by recent traffic it will be a copious zombie slaughter fest.pic.twitter.com/lgNFnJoLUr
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We've actually been working on an open grants standard with similar design decisions: - donors pool funds Kickstarter style - multiple grantees - grant manager controls payouts - grantees can be cut off - any unspent money is refunded pro-rata to donorshttps://github.com/NoahMarconi/grant-contracts …
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Doesn't sound similar to me, it sounds like there is a huge amount of trust here in human decision-making. Especially the "grantees can be cut off" is the opposite of what I am talking about with can't-discriminate cash distributions.
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You're right, I should have been more general. The grants *standard* defines the minimum set of functions for pooling resources. Our reference implementation chose "grantees can be cut off". But you could write the function your way and prevent additional categories of abuse.pic.twitter.com/eNk6YmRPLH
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ERCX coming soon—The goal of the standards work is to make it easy for multiple UIs to support it, just like how ERC20s were integrated everywhere.
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We have a working DAO on http://bisq.network The problem of risky honey-pot cash balances is solved through burning the token when spent into the DAO, and issued when the DAO needs to pay.
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Will you write a paper/article on this? Is this what you see developing as a new model for businesses/delivery of services?
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That’s model for music royalties. The credited writers set their % ownership, then streaming royalties trickle in, then flow out to the right people with the right cuts. The contract could hold funds until certain amount or date thresholds. Long way to go for this to be real tho
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A primitive to mental poker
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