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The question remains, is it a good idea to invest in The DAO and have they learned anything from those who have gone before? Background Let me take a moment to share my credentials on the subject of DAOs. The first two words of DAO, Decentralized Autonomous, entered the crypto-currency lexicon after a discussion between my father and I back in I introduced the concept that a blockchain can be viewed as a DAC.
It was because of these articles that Vitalik Buterin, one of the founders of The DAO, started exploring the concepts in a three part series. The last word of DAC was changed from Company or Corporation to Organization in order to avoid unnecessary legal entanglements, but the concept remains the same.
Over the past three years I have worked with the BitShares community to implement the worlds first Decentralized Autonomous Organization based upon many of the same principles as The DAO.
Money was raised, tokens were allocated, and token holders were given the ability to vote on how to spend community money and set blockchain parameters. Advanced consensus and voting systems were implemented to address voter apathy. Participatory budgeting was adopted.
The stakeholders have the ability to vote for hard forks that implement new features. BitShares even adopted fee-backed assets to help fund specific features. Every thing in the blockchain was parameterized and those parameters could be changed by elected committee members.
This difference is relatively trivial and ultimately irrelevant to the potential success or failure of The DAO. Smart Contracts cannot fix Dumb People BitShares had all of the tools, the talent, and the money to do great things if only the BTS holders could agree on what should be done, who should be paid, and how much should be spent.
This is due to the fact that voting requires time, energy, and skills that most investors lack. How many people have the economic, technical, and entrepreneurial skills to vote responsibly?
In order to boost participation BitShares 2.
The DAO currently requires a level of voter participation that is much higher than BitShares has ever seen for a worker proposal. This means The DAO is expecting much higher levels of participation of voters without using proxies. Unless the majority of DAO stake is held in a few active hands, this will be very hard to achieve.
This means that you have much to lose by voting and much to gain by not voting. Unable to bear the short-term paper-loss and psychological impact of a lower market cap, people started electing proxies that would vote against all spending proposals.
With The DAO the same principles are at work. Considering many of the investors in the DAO also hold ETH there is a conflict of interest in their voting preferences. Most individuals will see the short-term cost loss of liquidity of authorizing spending to be much higher than the long-term benefit.
In the long-run the project may add value to Etheruem and the DAO, but the long-run is often years away. Smart speculators know they can make the most money by not tying up their capital during the no-growth phase. They will sell today and buy back in closer to the completion the project.
Not everyone will agree with the value an approved project will bring to The DAO. Well odds are in favor of it being wasted as 9 in 10 startups fail. Considering there is no real risk being taken beyond the risk of holding ETH and that there is the potential for a large gain it is no wonder so many people have participated.Low Youth Voter Turnout Essay Sample.
Voting is the civic duty of every American citizen that is eligible to vote. However, there was a low young voter turnout in favor of Obama in recent elections.
In addition to voter apathy as one of the main problems of internet voting, Harrop touches upon the potential problems of internet voting such as coercion, identity theft, fraud and that voting should be a communal activity.
Voter apathy is defined as the non-participation of eligible individuals in elections at all levels.
Voter turnout throughout recent history in the USA is at an incredible low, as recent as in over half (%) of the eligible citizens of the USA refused the opportunity to vote in the Presidential election when the incumbent Bill. This essay unravels the mystery behind voter apathy in the United States of America and the possible impacts of ignoring such a crucial process.
One major reason that certain groups of American citizens give for not voting is inadequate competence and leadership skills in . The free US Politics research paper (Voter Apathy And The Role Of The Media essay) presented on this page should not be viewed as a sample of our on-line writing service.
If you need fresh and competent research / writing on US Politics, use the professional writing service offered by our company.
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