DAOs are meant to be completely autonomous and decentralized, but are they? -Breaking
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© Reuters. The organizational structure of the company is a Decentralized autonomous organisation (DAO) is fundamentally meant to be “decentralized,” some of the biggest DAO protocols including are not. Most of the DAO’s daily activities still need to be managed by a small core of staff members who can make important decisions. It begs the question: Is DAO decentralized at all? If not, can complete decentralization be possible?
DAOs are often compared with democratic nation’s governance. While the ideology is to have decisions for the country made by the people, it’s mainly governed by a few powerful individuals who hold most of the license to determine laws and control decisions. Like large companies, shareholders have the right to vote. But the board determines key policy.
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