kaal:claim:3782205-004

A DAO will not be a genuinely profitable addition to the economy until decentralized versions of the legal system, the political system, the media, banking, and other services exist to support it.

Source quote, verbatim

The legal system, the political system, the media, banking, and other services are all needed before the first DAO will be a genuinely profitable addition to our economy.

From

Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021), Chapter 9. Eight institutions, p. 2
https://ssrn.com/abstract=3782205 · source PDF

Cite as

Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205

Holds when

profit-seeking DAOs competing in the contemporary economy

Classification

failuresupport: arguedfailure: Missing complementary institutionsfamily: cold-start-and-bootstrappingdaoinstitutional-designlaw-and-legal-systemssystemic-risk

Related claims

restates kaal:claim:3782201-037 Without decentralized versions of the services that overhead institutions provide, including justice, media, b...

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