The most impactful Web3 Innovation
And the death of Representative Democracy
From all the Blockchain use cases, cryptocurrencies and DAOs are the ones I'm most bullish about.
I love DeFi and NFTs, they are revolutionary and really important building blocks. But most of its value lies in bringing efficiency to some verticals.
For example, NFTs transform real-world and digitalized assets into digital-native ones. With NFTs, you will be able to sell, buy, and manage your valuable assets with more efficiency, safety, and interoperability between platforms.
It's a huge improvement but doesn't impact the root causes of society's problems. Doesn't impact the most powerful pillars of our obsolete institutions.
DeFi has the same logic. It cuts the middlemen, fees, trust-based entities, corruptions, etc, and brings access, efficiency, innovation, and transparency to financial services.
On the other hand, Bitcoin and DAOs impact deeply the main pillars of modern society.
They are transversal technologies.
Cryptocurrencies separate Money from State. It's a hit on the foundations of the establishment. This type of disruption takes time to unfold, maybe decades, but will change deeply how our society works.
DAOs also create a powerful way for asset management and collective deliberations at scale. Of course, we have a long way to go yet and several flaws to fix. But the building blocks are here, and collective decision-making never will be the same.
This means the Democracy, as we know, with money monopoly, voting, closed process, based on coercion; is dead.
On-chain communities with large-scale decision-making processes, trustless, open-source, open data, neutral, crypto-based, and autonomous will definitely change the core of modern society.
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