Ki Young Ju, founder of Crypto Quant, wrote on X that he disagrees that decentralized organizations (DAOs) are a failed concept and believes that the key to their success lies in "balance." He pointed out that although many decentralized projects did fail, the reason was that early participants quickly made profits, while latecomers had difficulty getting corresponding returns, which led to an imbalance. He emphasized that complete decentralization is not always necessary, and the core idea of DAO is to maximize personal interests, which is consistent with the nature of capitalism. However, this concept is still in the exploratory stage, and the key to success lies in finding the right balance. Ki Young Ju also took Wikipedia as an example, believing that its information archiving function can be improved through decentralization. He mentioned that a similar project, Everipedia, had tried to operate in a decentralized manner, but the reason for its failure was that Wikipedia's decades of experience and expertise were difficult to catch up quickly. He further pointed out that if Wikipedia were to issue its own tokens, the lack of proper regulation would make the process difficult. He finally emphasized that Web3 needs proper regulation. Only when regulations can effectively filter out fraudulent activities, large companies and promising teams will be able to participate in decentralized experiments. Otherwise, without regulation, fraudsters will continue to undermine the potential of blockchain technology and keep it under the shadow of disgrace.
Ki Young Ju's point of view shows that finding a balance between decentralization and regulation is the key to ensuring the success of DAO and blockchain technology.
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