What We Learned About Technocratic Fallacies From DAO Collapse
The DAO, the first leaderless investment fund which operates on code for reaching consensus in decision-making, is championing for the supremacy of the “immutable, incorruptible” code to be freed from the common fallacies of human behavior such as cognitive bias and irrationality. While the promise of technocratic governance sounds compelling, it is undermined by the illogical human behavior exhibited by the early instigators and investors which led to the inevitable downfall of The DAO, not just as a software program with an erroneous code, but a collective movement propelled by....
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