Plenty of people have shared differing opinions on what the FTX debacle means for crypto, for the good or the bad. Still, few have suggested how crypto might help to prevent future, similar events down the road.
Enter the DAO.
No, I don’t mean the Ethereum-based organization that was hacked in 2016, but the organizational framework that consists of a shared cryptocurrency wallet, a vision and a group of people who believe in working together to see that vision through.
Prosecutors in the criminal trial of Sam Bankman-Fried are trying to show that FTX failed because of the greed of a few individuals who held the keys to all user funds. What if that didn’t have to be the case?…
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