The age of crypto-governance is upon us. This movement will be one of the most fascinating innovations to emerge from blockchain tech. The revolution has already started with a handful of DAO (decentralized autonomous organization) experiments, but we are just at beginning of a wave of innovation in governance mechanisms on crypto-networks. Where crypto-economics gave us novel funding mechanisms (ICOs), decentralized finance applications (#Defi), and new ways to incentivize actors on distributed networks, crypto-governance will spawn novel ways of achieving social consensus, accelerate the development of crypto-networks, and allow us to leverage the wisdom of the crowd to allocate capital, make network upgrades, and organize online communities.
For the first time, people are starting to work for cybernetic collectives like DAOs as their full-time job. These organizations don’t have traditional business hierarchies. Yes, there is leadership and some semblance of management, but, in a permissionless organization, workers can come and go as they please, and talented workers are incentivized to work for a handful of groups, rather than being loyal to just one. We are entering an era where talent wins. DAO contributors can be remunerated based on their contribution, not on the basis of their position, seniority, or how good they are at political wrangling. The result is that open-source developers will start to earn like professional athletes and rock stars.