Vitalik: Visa's original intention was similar to the DAO concept, and it is now considered a centralized institution

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PANews
08-08
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PANews reported on August 8th that Vitalik Buterin wrote that Visa was initially established with a decentralized concept, and its original intention was highly similar to modern DAOs (Decentralized Autonomous Organizations), but now Visa is viewed by many as a "value-extracting" or "oppressive" institution. Vitalik believes that this transformation process provides important insights for the current governance and development of Web3 and crypto networks. The related discussion also mentioned the "Chaordic Organization" concept proposed by Visa's founder Dee Hock, emphasizing that Visa was a pioneering case of decentralized governance and ownership, worthy of reflection and learning by the crypto industry.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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