Is Decentralization in Danger: How Will DAOs Survive the Crypto Bear Winterby@numerouno
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1,410 reads

Is Decentralization in Danger: How Will DAOs Survive the Crypto Bear Winter

by Ogunwale Emmanuel10mJuly 11th, 2022
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A Decentralized Autonomous Organization is an organization that is run and managed by its community members. Unlike traditional companies, there are no hierarchies or 'pecking order' in DAOs. Decision-making is wholly democratized and decisions get made from the bottom-up. DAOs have been cheekily described as "group chats with a wallet" and "the arch-nemesis of Chairman Mao," a definition that, in fairness, succinctly captures the essential philosophy underpinning the cryptocurrency industry.

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Ogunwale Emmanuel

Ogunwale Emmanuel

@numerouno

Freelance writer. Word nerd. Obsessed with all things crypto

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Ogunwale Emmanuel HackerNoon profile picture
Ogunwale Emmanuel@numerouno
Freelance writer. Word nerd. Obsessed with all things crypto

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