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How Blockchain Tech Advances Benefit Other Industries
web3 with a16z crypto
Evolving Democracy: From Public to Private to Liquid
Participatory rates in direct democracy have proven to be low, prompting organizations to shift towards representative democracy where delegates vote on behalf of constituents. Recently, there has been a movement towards private elections in decentralized autonomous organizations (DAOs), such as the nouns DAO, to address the complexities and challenges associated with public voting. These DAOs are drawing lessons from humanity's extensive governance history instead of starting from scratch. Notably, they are also exploring innovative governance models like liquid democracy, which allows for dynamic delegation of voting power, enabling participants to reassign their votes in real-time, in contrast to traditional systems that force a long wait between electoral cycles.
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