Blockchain dev says DAOs don’t work, elected leaders are the answer
Blockchain developer Martin Krung has proposed replacing decentralized autonomous organizations (DAOs) with what he calls a decentralized hierarchical organizations (DHO). Specifically, he proposes elected leaders and hierarchical decision-making as a compromise between pure decentralization or centralization. Krung acknowledges that DHO s are more appropriate for general organizations like hobbyist communities rather than financial applications like decentralized exchanges (DEX). Regulators like the Financial Action Task Force (FATF) and the Securities and Exchange Commission (SEC) will most likely claim jurisdiction over financial platforms, forcing them to choose between complying with regulations or becoming fully decentralized. Krung admitted, “for money protocols, hierarchies are difficult because many can’t be compliant, so total decentralization is the only way.” DAO s not working. Many are way too unstructured. What we need is on-chain org with clear hierarchies, clear ru...