Decentralized autonomous organizations are paving the way toward community governance for any kind of company. We’re seeing new creative use cases for DAOs, such as GameFi comic books laying the foundation for collectible card game development and support from key players like Ethereum co-founder Vitalik Buterin — who has claimed there is value in shared decision-making to eliminate acts of collusion.
But on the other end of the spectrum, there are DAOs dissolving or running out of Ether (ETH) to pay back lenders, and there is also declining optimism. The number of critics is increasing along with their concern over the many attack vectors that affect projects. To put an end to this narrative, DAOs need to explore new structures to remain incorruptible. To that end, multisignature wallets are a necessary step toward users and contributors viewing DAOs as a secure alternative to centralized corporate structures and are a vital part of pushing this egalitarian approach to decision-making forward.
Not 100% safe, but close
The concern around safeguarding DAO funds has cast the biggest shadow over their egalitarian structure. Any resource investment into the DAO will be stored in its treasury, and a proper governance structure is non-negotiable. The…
