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Comment of the Week
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Dreamer’s comment on The Rise of DAOs
Since man first appeared on the planet, more effective ways to improve organisation and cooperation via the re-structuring of society have been produced by mankind. First it was family, then tribal governments, then corporations and now the global economy.
As the most advanced organization/network ever, the internet has opened the door for real-time information exchange around the world, but it lacks the economic tools for general-purpose coordination and global co-production.
Blockchain has made this possible by providing a reliable, open and programmable accounting system, and as a result led to the invention of the Decentralized Autonomous Organization (DAO).
The Internet is a human-centred decentralized structure. It is an elegantly scaled service system that has serviced more than two billion users over fifty years. Dynamic self-government has helped it evolve and develop itself over time, like a system of life. The Internet does not support intrinsic value distribution. As such, it lacks a natural economic incentive model for participation. Its functionality is therefore limited to the distribution of information.
In fact, blockchain itself is the closest available thing to a DAO, although at this stage it can be more accurately compared to a DApp. It opens the door to never-before-seen growth and development with a new model of domestic economic stimulus.
The Bitcoin blockchain network has grown from zero to almost $100 billion with no centralized management or coordination. Ethereum blockchain has similarly reached $30 billion in three years. However, the functionality of these value-based DApps is limited and forthcoming elements (like Ethereum 2.0) are required to enable general-purpose DAO’s that can be organized around general purposes.
From my perspective it’s clear that DAO’s will shape our future. This future makes me excited and nervous - I hope it is a happy one.
Thanks for the article.
Wanda Oliver’s comment on Curation vs Gatekeeping
I respect the roll of curation, and the role my gallerist plays in bringing together collectors and artists - without her I would not be an emerging artist, but a completely unknown one. However, a lot of what passes as curation in the NFT space today is simply gatekeeping. I have applied to several curated platforms and I have now been waiting months for a response in some cases - weeks in others. I can’t begin to imagine the motivation behind this situation, but it serves no one. Every artist deserves the dignity of a response in a reasonable amount of time. These comments are not directed towards the Morrow Collective - they are offered as part of a rational discussion about the role and process of curation in the new art world we are all trying to construct.
Sezgin25’s comment on The Tide is Turning, EOS Prominence is on the Rise
Central authority cannot interfere
The American CryptoFed DAO will be governed by its own governing token, which has been approved and approved by SEC commissioner Hester Peirce to meet the definition in the Safe Haven for Tokens Proposal.
The rules of the DAO will be decided by consensus to be determined by the management token holders, and the rules cannot be interfered with by any central authority. Transactions will be kept on a transparent and immutable blockchain.
Edward Buchanan, Wyoming state secretary of state, who made statements on the subject, stated that the state has supported innovation since 1977, when it accepted LLCs, which are limited liability companies, and used the following statements:
“Wyoming has a reputation for driving innovation in business and technology. We are proud to maintain this innovative feature as we give legal rights to Decentralized Autonomous Organizations (DAOs).
Congratulations to the CryptoFed DAO for being the first DAO to be legally recognized by the Wyoming State Department.”
“Transaction costs disappear”
American CryptoFed DAO CEO Marian Or said, “The state of Wyoming is the leading digital asset jurisdiction in the United States and, with the current DAO law, has become the most important blockchain jurisdiction in the world.
“This means we can create a true digital currency that will be accepted by the masses.”
Orr also; “Our digital currency will give municipalities, businesses and consumers the opportunity to transact digitally without process costs.
As a former mayor, I can say that such costs increase very quickly and are a huge burden. In other words, our cities and all the elements connected to them will no longer lose money due to the costs they face in the processes.
Municipalities will also be able to generate extra income without raising taxes.
Husnu Coban’s comment on The Future Of Interoperability – How To Use Darwinia Bridges
I love projects with this kind of purpose. He may be far from his goal right now, or he may not succeed. But a good reason has been thought out. There's good imagination and engineering in the middle. In my eyes, it's worth more than a very popular shitcoin.
There may not be much demand right now, but as the nft becomes widespread, we will look for such things. In this respect, it is quite valuable. It doesn't address today. A project for tomorrow. It's a real project in that respect.
Well ... I'm not sure I agree with some of this ...
Bitcoin is for sure ground breaking and game changing and Satoshi has finally lit a path for us to follow ...
But the High transaction cost , slow speed and low TX capability I don't think Bitcoin is the future.
Store of wealth ? Sure ... maybe ... but 99% of people don't agree that it's wealth yet and if we are just going to all come together to agree on something being a better and more convenient store of wealth then why not do it with a more efficient chain ?
Crypto Currency as a whole is the solution to many of our problems and will Only facilitate and increase world trade. For the first time in history we can trade cross boarder , cross currency , anywhere in the world in seconds, When you increase the speed, efficiency and size of any market then that market will thrive if it has what people want.
I don't care about Maxi this , Maxi that ... this chain is better than that chain ...
All Chains are better than the current system ... But
Bitcoin does about 4.6 Transaction per second.
Ethereum does about 30 Transactions per second.
Visa alone does about 1700 TX/s
If crypto and Blockchain technology is going to be the future then it has start doing 2500 TX/s and I would argue that it has to do it in a green and sustainable way that people can feel good about using.
What about Transaction speed ...
BTC Average TX time - 14 minutes
ETH Avg. TX - 5 minutes
WAX/EOS average T - 1.5 seconds
Enter EOS and WAX ... 2500 Transactions per second , practically no transactions fees and an average transaction speed of 1.5 seconds.
And it only took 1 day for Yoshi Coins to turn the whole block chain carbon negative and oxygen positive ... better than green.
This is the kind of efficiency that will change the world of commerce. I imagine a day in the not so distant future when crypto becomes the norm that because of increased commerce through efficiency we will have to start worry about things like 1 million Transaction per second chains just because absolutely everything is done on chain or semi on chain
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