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Deep Background with Noah Feldman

What’s the Deal with Decentralized Autonomous Organizations?

Deep Background with Noah Feldman

Pushkin Industries

News Commentary, Government, News

4.4848 Ratings

🗓️ 23 December 2021

⏱️ 47 minutes

🧾️ Download transcript

Summary

Erik Voorhees, founder of crypto management platform ShapeShift, makes a case for decentralized autonomous organizations, known as DAOs. Earlier this year, ShapeShift became a DAO, “moving from a centralized, closed-source application with bank accounts, governed and owned by shareholders, to a decentralized, open-source application without bank accounts, governed and owned by holders of the FOX Token.” Voorhees explains how DAOs works could reshape business, economics, and politics. . 


Read Erik Voorhees’ Medium post about moving to a DAO structure here: 

https://erikvoorhees.medium.com/shapeshift-is-decentralizing-639bb4c82fc8

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Transcript

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0:00.0

Pushkin.

0:08.7

It's hard to read the news these days without asking yourself, how did we get here?

0:13.8

Fiasco is a history podcast for the co-creators of Slow Burn.

0:17.6

In our first season, Bush v. Gore, we examine an unmistakable turning point in American politics, the 2000 election, which resulted in a high-stakes stalemate, ended with one of the most controversial rulings in Supreme Court history.

0:30.5

So if you're trying to make sense at the present moment, check out Fiasco, Bush v. Gore. Listen on the Iart Radio app, Apple Podcasts, or wherever you listen to podcasts.

0:48.3

Pushkin. From Pushkin Industries, this is Deep Background, the show where we explore the stories behind the stories in the news.

0:59.6

Today's episode explores a fascinating story that combined two interests that I have.

1:05.1

You may have heard about it.

1:06.5

A few weeks ago, an original printed copy of the draft Constitution of the United States

1:12.1

from 1787 went up for sale at Sotheby's.

1:16.1

The auction made national news, but not for the reasons you might think.

1:21.6

The actual copy of the Constitution was not all that rare, though there weren't very many

1:26.3

that remained on the market.

1:28.3

What was newsworthy was that a group called the Constitution Dow, or a decentralized

1:33.6

autonomous organization, came together over social media over a very, very brief period of time

1:40.6

to crowd fund tens of millions of dollars for the specific purpose of purchasing this copy of the Constitution at auction.

1:49.1

Now, as it turned out, the Dow did not win the auction.

1:53.2

But the whole event did a lot to raise public consciousness about DAOs,

1:58.2

which are an innovative new technology that nobody can exactly decide about.

2:02.6

Are they progressive? Are they regressive? Are they libertarian? Are they anti-racist?

2:08.6

Mark Cuban was quoted as calling them the ultimate combination of capitalism and progressivism,

2:14.6

and I will leave it to you to figure out what that means. But I've been on a

...

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