The “D” in DAO doesn’t stand for democracy, says Upstream CEO Alexander Taub

The “D” in DAO doesn’t stand for democracy, says Upstream CEO Alexander Taub

2 years ago
Anonymous $RpxJm2pZ1S

https://techcrunch.com/2022/07/25/crypto-community-web3-dao-democracy-upstream-alexander-taub-chain-reaction-podcast/

Ever since a group of chronically-online crypto enthusiasts tried to buy a copy of the U.S. Constitution in a high-profile bidding war, DAOs (decentralized autonomous organizations) have been at the forefront of discussion in the web3 world. How are they different from companies, you ask? DAOs have been lauded for their ability to give everyone in a community a voice by involving them in decision-making and recording those decisions in a transparent, immutable manner on the blockchain. But the utopian vision some people have for DAOs seems far off from the reality today.

This week on Chain Reaction, the TechCrunch podcast about all things web3, we talked with Alexander Taub, CEO and co-founder of DAO tooling platform Upstream. Upstream started as an online community for professionals to connect with each other during the pandemic and pivoted to providing mechanisms to manage DAOs when the blockchain-based communities took off during crypto’s bull run in 2021.