Tesla Board Member Kimbal Musk Says Most DAOs Are Not Actually Decentralized

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Tesla Board Member Kimbal Musk Says Most DAOs Are Not Actually Decentralized
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.BigGreenDAO founder Kimbal Musk (kimbal) said at Consensus2022 that most DAOs are not in fact decentralized and instead are designed to “allow the founders to maintain control”. IanAllison123 reports

, a Web 3 charity focused on food justice, said his research had revealed that most DAOs are not in fact designed to prevent an accumulation of power by a few members – something he has strived to avoid.

The DOA concept has seen a surge in interest alongside the excitement around non-fungible tokens and Web 3. However, these nominally leaderless organizations and online investment collectives have been jokingly labeled as simply group chats with a bank account. “I had to feel myself giving up control of this beautiful thing I had spent 1,000 hours working on, and I think everyone should go through this process,” Musk said. “I think we started with six non-profits. I’ve watched them go through the process of giving up control.”

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