introduction to daos - ethereum meetup warsaw 28.04
TRANSCRIPT
INTRODUCTIONTODAOSDECENTRALISED AUTONOMOUS ORGANISATIONSFOR NON-TECHNICAL PEOPLE
ETHEREUM MEETUPWARSAW
@MACIEJOLPINSKI
HUMAN COOPERATIONAS WE TRANSITION TO THE DIGITAL SOCIETY WE NEED NEW COOPERATION METHODS
HUNTER-GATHERERLOCAL
AGRARIANSMALL SCALE
INDUSTRIALLARGE SCALE
WORD OF MOUTH
DIGITALGLOBAL SCALE
WORD OF MOUTH PRINT COMPUTER CODE
LEGAL SYSTEMS ???
MONEY JOINT STOCKCOMPANIES
16th century19th century
NATION STATES
PEOPLE INVENT ABSTRACTIONSTO COOPERATE
21st century
????
SHARERISK/REWARDS
COMBINESKILLSETS
Sea trade was risky, riskdistribution provided
steady returns
Captains, crews, traderoutes
Surplus capital couldbe reinvested into sea
trade
ALLOCATECAPITAL
EARLY JOINT STOCK COMPANIES
STARTUPSare the engines of value creation in
digital economy
high risk/high reward activities with
strong network effects
winner takes all
PROBLEM:
VALUE CREATION GLOBAL AND DECENTRALISED(WE ALL WORK FOR FB OR GOOGLE)
BUT WEALTH ACCUMULATION IS STILL LOCAL ANDCENTRALISED IN SILICON VALLEY
INDUSTRIAL ERA ABSTRACTIONS NOT ALIGNEDWITH DIGITAL ECONOMY
EVERYONE HAS ACCESS TO INFORMATION
FEW HAVE ACCESS TO INVESTMENT OPPORTUNITYIN DIGITAL VENTURES
BITCOINthe coordination network with software
based incentives
Bitcoin proved that people respond to
incentives expressed in computer code
Pure software with no 3rd party can
align human behaviours in the physical
world
PEOPLE RESPOND TO INCENTIVES
ETHEREUM - PLATFORM FOR PROGRAMMABLEINCENTIVE NETWORKS
ALLOWS TO DESIGN INCENTIVE MODELS FOR OTHERACTIVITIES THAN JUST CURRENCY CREATION
ALLOWS DISTRIBUTION OF ECONOMICRISKS/REWARDS OVER THE INTERNET
DAOincentive-based, economic
coordination mechanism on the
blockchain
WHAT IS THE DAO?
expressed in code and
transmitted via the Internet
allows people to participate in
risks & rewards of digital
ventures
TOKENS CREATE ECONOMIC LINKSBETWEEN DAO PARTICIPANTS
WEB 3.0 - THE WEB OF SHARED ECONOMIC GOALS
WEB 1.0WEB OF PAGES
HYPERLINKS
WEB 2.0SOCIAL NETWORKS
LIKES, FOLLOWS
WEB 3.0INCENTIVE NETWORKS/DAOS
TOKENS
influence influence
ETHEREUM WON’T BE ABOUT BUILDING PHOTOSHARING APPS.
IT WILL BE ABOUT DISTRIBUTING REWARDS FROMPHOTO SHARING APPS. THIS IS THE REALINNOVATION.
IF WE HOLD THE SAME TOKEN, WE HAVE 'SKINS INTHE SAME GAME'
ETHEREUM'S VALUE IS NOT IN COMPUTATION (IT'SSLOW, EXPENSIVE)
IT'S IN BUILDING NEW ECONOMIC ALIGNMENTSCHEMES (DAO) AT ALMOST ZERO COST. FOCUS ONTHIS.
PEOPLE/TALENT
WHO ARE THEY?
HOW MUCH 'SKIN IN THEGAME' THEY HAVE'?
HOW MUCH DO THEYLOSE IF DAO FAILS
PRODUCT
WHAT PRODUCT DOESTHE DAO OFFER?
WHAT IS THE MARKET?
HOW IS IT BETTERTHAN ALTERNATIVES?
COMPETITION
CAN YOU COPY THE MODELEASILY IF SUCCESFUL?
WHAT 'MOATS' DOES THEDAO HAVE TO PROTECT ITFROM COPYING/FORKING
BEFORE YOU INVEST IN A DAO...REMEMBER THAT SAME OLD RULES APPLY