“If you don’t know what you’re doing, don’t go into it.” The DAO: An experiment in responsibility

“In one sense, The DAO hearkens to a future of automated rule- enforcement that will take those inevitable human weaknesses out of a human-administered regime. But in another sense, this bleeding-edge high-fintech experiment points to an older age when we had less government because we needed government less. The old fusionist principle – government always fills a vacuum of virtue – dovetails well with peer-to-peer ethos of the new cryptocurrency sector.

With this new experiment in self-responsibility, we’ll see if The DAO is ready for us – and if we are ready for The DAO. Can we use cutting edge fintech to aid us in shouldering loads that our forebears shouldered without a second thought? Are we ready for a domestic velvet revolution in which we say to the Regulatory State, “Thanks for all you’ve done, but we no longer need your help”? The answers spawned from a gaggle of ubergeeky fellows enthused by the possibilities that inhere in a new cryptocurrency, will shape the world of our descendants.”

via ESR | http://ow.ly/6X08300J5ho

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