Tesla Board Member Kimbal Musk Says Most DAOs Are Not Actually Decentralized

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.BigGreenDAO founder Kimbal Musk (kimbal) said at Consensus2022 that most DAOs are not in fact decentralized and instead are designed to “allow the founders to maintain control”. IanAllison123 reports

, a Web 3 charity focused on food justice, said his research had revealed that most DAOs are not in fact designed to prevent an accumulation of power by a few members – something he has strived to avoid.

The DOA concept has seen a surge in interest alongside the excitement around non-fungible tokens and Web 3. However, these nominally leaderless organizations and online investment collectives have been jokingly labeled as simply group chats with a bank account. “I had to feel myself giving up control of this beautiful thing I had spent 1,000 hours working on, and I think everyone should go through this process,” Musk said. “I think we started with six non-profits. I’ve watched them go through the process of giving up control.”

 

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BigGreenDAO kimbal IanAllison123 So call them something different. Descriptions are actually important

BigGreenDAO kimbal IanAllison123 Shocking 🫣

consensus2022 BigGreenDAO kimbal IanAllison123 lol

BigGreenDAO kimbal IanAllison123 Are you suddenly relevant because your brother is rich and you wear a silly hat?

BigGreenDAO kimbal IanAllison123 Duh VHS was better than Beta max. Now back to news of today. This sheit is old as Mozes. DEFI will never work. Period. Anyone thinking it will has forgotten about the old senile morrons in politics.

BigGreenDAO kimbal IanAllison123 He's not wrong.

BigGreenDAO kimbal IanAllison123 This is accurate ONLY if the DAO is set up this way in structure.

BigGreenDAO kimbal IanAllison123

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