Agreed about the massive potential. Do you think gov regulation is another big limiting factor here? We do have the technology but how would independent nodes actually operate and be legally classified? 1099s and LLCs?
This is a good question and I'm working on a post about how many issues this idea creates. Regulation is a major one.
I would classify nodes differently depending on how they interact, but individuals and companies wouldn't be working FOR a DAO, they would be working THROUGH it like a labor marketplace. Individuals would likely work as 1099s where small businesses a local distributor for example) would work as an LLC.
There's also a whole other layer that corporations currently serve that I haven't addressed at ALL here. How do you deal with insurance? I mean health insurance (which is currently the corporation's role) and business liability insurance. And who do you yell at or sue if the product is faulty and malfunctions and hurts someone?
Agreed about the massive potential. Do you think gov regulation is another big limiting factor here? We do have the technology but how would independent nodes actually operate and be legally classified? 1099s and LLCs?
This is a good question and I'm working on a post about how many issues this idea creates. Regulation is a major one.
I would classify nodes differently depending on how they interact, but individuals and companies wouldn't be working FOR a DAO, they would be working THROUGH it like a labor marketplace. Individuals would likely work as 1099s where small businesses a local distributor for example) would work as an LLC.
There's also a whole other layer that corporations currently serve that I haven't addressed at ALL here. How do you deal with insurance? I mean health insurance (which is currently the corporation's role) and business liability insurance. And who do you yell at or sue if the product is faulty and malfunctions and hurts someone?