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Original title: "

Revisiting 1602: Is DAO a new corporate paradigm?

》 Original Article by Andrew SingerBlock Unicorn

"Entrusting Your Vote to Competent Experts in the Industry Will Give Owners a Stronger and Clearer Voice in the Management of the Companies.

In 1602, The Dutch East India Company was Founded in What Many Believe was the World’s FINITIAL PUBLIC Offering – ALLOWING Complete Strangers to Buy Ownership O F Shares. Four Centuries Later, The Shareholding Model – And Especially Its Incarnation as the Modern Commercial ""Company " – set the page for much of the economic world.

But the dueractralized, Autonomous Dao Could Soon Undermine the Joint-Stock OR CapitalISED Business Model, Just as the Dutch East India Replated the Limited PAR toneship of the time.

Or aME MIGHT say: "The Dao is the New LLC," Dao Investor Cooper Turley Says of the Leaderless Internet Native Entities, where Key DeCisions is often Made By CONS ENSUS. "In Five Years, Companies Will No Longer Own Equity. They Will OwnTokens, and they will be represented as daos, "While Noted Investor Mark Cuban Added," The Future of the Company " Al business.Web3 projects.

"I think daos are alream replied tractitional companies," Sam Miorelli, A LAWYER ACTIVE WITH MANY DAOS, Including Curve Finance, TOLD The Magazine. of the dao is the optionunity to Return to the Historial Norm of Project FIRST, where smartPeople with good IDEAS can get funding and build commities design projects without finding a lem budget. ONS HAVE SOME University Characteristics.

"Dao is not managed by a board of directors or managers, but is intended to be managed through democrative or highly partipisses or algorithms."Agra Wealth Management

In Fact, They’ve Been Described as Operating "Similar to An Online Chat Room with a Bank Account," Becauce "Almost Anywhere Can Access the Internet and Can the dao, participate in its Governance and share in its profits, "FlorenceGuillaume, a Professor at the university of neucHatel school of law, tells the magazine.

Back in 2016, when one of the first decentralized Autonomous Organizations -Unhelpfully named "the dao" & nbsp; when it launchd on the ethereum blocks TWORK, Things Did’T Look so rosy."WAS HACKED and LOST $ 60 Million, Leading to a Bitter Split in the Still-Nascent Ethereum Community that eventually, OR some time, "The Dao" Cast A Shadow Over Decentralized Autonomous Organizations.

TODAY, These Transparent Community Organizations Still Face Serious Regulatory and Legal Challenges. Do they have to pay taxes? Can they open banks or si Gn Legal Agreements? Can they bring lawsuits aginst Other Daos?

Attorneys Louis Lehot and Patrick D. Daugherty Write: & Nbsp; "There is no model dao action, just like there is a model business company. Precedent ". Key Decisions, Such as decate how to spend money,Are OFTEN VOTED on by B?

A Few Things About Daos: They are typically coopratively on blockchains like ethereum (but not bitcoin) that can process blocks of Software Called SM Art Contracts That Are EXECUTED Automatic When Conditions Are Met. For Example, if an Airline’s Flicht is delayed byFour Hours (I.E., Condition), A Smart Contract Code Triggers Payment Via Mobile Phone to a Passenger WHO Has Purchased An Insurance Policy.

Most DAOs are sold through sale

The raising funds gives investors/owners’ right to vote.If DAO vote to pay dividends or pass

The owner will make money, similar to the way investors make profits in listed stock companies such as Coca -Cola.

"Daos have a future," Erik Vermeuen, Professor of Business and Finance Law at Tilburg University, Told The Magazine, Given Their Transparence, Security Open Source GoverNance Protocols, Which Means Constantly Exploring and Testing Vulnerabilities. Moreover, then do not enCourage"Rent-Seeking", The Manipulation of Public Policy or The Economy to Increase Profits. d that becape of their distributed nature, they are aimed at presenting nature and political monopolies.

But are they really better than the traditional organizational business model?Not everyone agrees."Current

The system may not be able to prevent monopoly, because some people may have a large number of DAOs

Therefore, the results of the voting may be controlled, "Sarah Hammer, the managing director of the Wharton Business School Stevens Financial Innovation Center, told the magazine that adding:

"All daos are different, and some are structudured to promotE Inclusion, while Others Limit their Membership in Response to Something Called token Gating. Ires Dao Members to Verify that they hold dao’s nft token in their encrYPED WALLET BeFore Accessing Dao’s Discord Server orwebsite. ""

Eric Lim, A Senior Lecessuer at the University of New South Wales, Told The Magazine: "The Defining Attribute that sets Daos Apart from Past ORERE of blockchain as a source of trust, "so that the inputs and outputs of decisions areImmutable and Auditable. "This represses an advance on the tractional centerised organation. Lim calls it a" zero-sum game. "

DaOS HAVE Attracted More Attention in The Mainstream Media Over The Past Year, Which Reveals their Stringths and WeaknesssSses. HED on Short Notice in November, Raising $ 47M in a Matter of Days to Bid on A Rare FIRST PRINT of TheUS constitution auctioned by sotheby’s.

Descripard as a "FINANCIAL FLASH Mobile," The Dao Gathered More than 17,000 "Donors" – A Symbolic Achievement in the Eyes of Many, and one that, if SuccessFul, WOULD puld Pul, WOULD puld puls UT The Historic Document "in Many Hands" (in a Museum, For Example) Rather than being owned by one person and may never be displayed agian.

However, Once Bidding Began, It Became Clear that the Dao’s Transparent Decentralized Structure Could. SES and How Much Can/Will Be Bid.Explained david Friedberg. "Sellers will only bid on the dao to get their Highest Bid." Citadel’s Chief Executive, Ken Griffin, too the rare document home.

DISSOLUTION is Also Not Smoolh, as daos can be quickly set up for spiecil events and then different. LAN to Return its investment, as Contributors argued in online group chaats, "the news. "The average inhibestment is about $ 200, but now Investors may have to pay that much to get their cryptocurrencies back."

However, this experience did not make DAO supporters discouraged. They asserted that like any innovation, the growth challenge can be expected.These entities aim to flourish in the WEB3 era.In addition, DAO’s decision -making process can be simplified by implementing variants in the digital age (such as commissioning voting).

Holders) can allocate their voting to the trusted people.third party.

AS PAUL BRODY, ERNST & Young’s Global Blockchain Leader, Explains, Shareholders of Large Companies Now Vote Down Management IT UNDERPERFORMS. In CE, This Rarely Happens, But Proxy Voting Changes Everything.for the dao, "BRODY TOLD The Magazine, Adding:

"With widespread inVestment in blockchain and trade stock Markets, it’s possible to track everything. Your Vote to Competent Experts in the Industry Will Give Owners A Stronger and Clearer Say in the Management of the Companies.

"Voting Schemes Based on Smart Contracts Could Alow More TO PARTICIPATE in Decision-Making, at Least Compared to More Cumbersome and Expensive Systems THAT Llect and validate votes, "Wright Said." The Availability of Smart Contract Voting Protocols May Enable Somersses toadopt their own tailored allocation of disc

Daos can also, which is his a project and how they are paid. versity’s questrom school of business, tells the magazine. "in anIncreasingly Global Society, The Benefits of Being Able to Recruit International ETITIVE Advantages. "Conneelly Says These Autonomous Organizations Offer PARTICIPANTS MONTE POAN THEY MIGHT HAVE IN A Traditional. ship over theResults of their work, and workers in developing countries will be less likely to fall victim to geographical class divisionsUdabur Stock. ""

Others, However, are more cautious. Able to "Sybil Attacks" and "51% Attacks," While Guillaume AdDed, "DaOS May Not Replace TRADITIONIONIES But PROVIDE New Alternatives for Existing Business and Social Organizations. ATION for Specific Cases, but this will be gyrtly influent by legislation and how daos are targally, "Further Explains:

"If this type of organization has coratus and provides limited liability to my members, Entrepreneurs and Others looking for a lead a n ew business may be more inclined to choose to create a dao. "

According To Miorei, Open Source Legal Work and Open Source Decentralized Building Blocks are two ways that Daos can lead to a future of Lower Transaction Costs For Al l. "This also applies to funding l l Projects.Which are managed by dao – is "the Returns that can be the achieved when transaction costs drop to nearo and when immutable enforcement of OutDated Classification Rules, SUCH As Approved Investor Regulations, Impossible. "

Daos Need to Overcom Some Key Obstacles – SUCH As Decentralized Governance Structures That Sometimes Don’t Handle ConflicTs or COMPETITITION D. iFFICULT, Complex and University to Coordinate and Organize Activities in Decentralized Community, "LIN SAID. AT the Same Time, Guillaume Added, "The Dao Governance Structure Needs to get to a point where managing resourcess user contractor and more adaptable than "

However, Daos Cant Completely ElimInate the Human Element and All the Limitations that are implicit in. Can CompaniesSurat Wealth Management. No Law or Organizational Structure Can Eliminate Interpersonal Conflict, "Miorelli Said, Adding thatAny Well-Organize Effort Can Try to Manage the ConflicTs.

TheRE OTHER Reason for hesitation before declving the dao the future of an organization’s business model. ES Into A Company that resembLEs Tradingal Top-Down Management. That’s the question on brody’s mind:"When did the Dao Stop Being a True Participatory Ecosystem and Start Look, Just Another Style of Shareholder-Owneder-and Now Stakeholder-Company with A Fu LL-Time Management Team and a Vry Corporate-Like a hierarchy? "

DAO will just own one

Isn’t it a company’s company?"Or does it mean more overlapping, participating and participation of users and owners?" Broddi asked."I think DAO is one of the business structures that people consider with partnerships, wholly -owned enterprises and companies," he continued, although he expects that most of the blockchain business will be DAO and many "protocol -driven technical business -driven technical businesses"manage.

In addition, some DAOs seem to be incredible -such as OlympusDao, which once was willing to mortgage its OHM

People pay 2,681.5% of APY.Some people think that DAO is just a Ponzi scam, and some people think it may be the future of DEFI.However, the hustle and bustle around it shows that these Internet local entities may be more supervised.Will this ensure the future of DAO?

The Answer is not clear. Hammer notes that while some us states, such as wyoming, have enacted leveling daos, "Many Other States have not done so. In ON, SOME DAOS May Specifically Address Federal Regulations and Securities Laws. "

"I don’t see Dao Replacing the Traditional Corporate Form Anytime Soon," Hammer Told the Magazine. For Example, TraDitional Corporations formed Under The Delaware Corpor ATIONS ACT "Contain Structures that, While Imperfect – SUCH As Proxy Voting – Have Stood Thetest of time. "

In Addition, Replass TRADIONAL FIRMS As Dominant Business Organizations "Will Require A Complete Transformation of the Federal Financial ReGulatory Framework H is unlikely to have had in the near future, "Hammer Added.

Overall, there is a lot to be exp) ly in a Completely Trusted and Transparent Way. ""

"USING BLOCKChain, a Large Group of Geographical Dispersed People -Many of Whom Can Remain Anonymous – Can Now Collaborant That Any DeCision Made I s the true will of the commit, "Connelle Told the Magazine.

It Also Involves. "A Dispassionate Blockchain Technolog that Treats Everyone Equity in the Community" and Allows for "Incentive Structures that are om what we’re used to ". It’s about inclusive ownership and doing what’s right for the commit," Eric LimAdded. Still, Dao is unlikely to completely sidestep the government challenges that challenge traditional business organizations: Miorelli warns:

"The Entire University Section is Committed to OPTIMIZING The ORGANIZATION, and I don’t think the dao has been for discline the traditional company. What would EVER the Legal Structure or name, it’s the popular that that matter. "

Daos Also Require a Consensus MindSet, which May take some getting user to. Eric Lim has true several daos, which he says is in Stark to the way. Ities operate. "In the dao, I had to convince almost anyone to fund the project," he says. "And people are motivated to talk to me. There is a consensus that if projects that provide value to the community are funded, the community will grow."

So, do, does the dao really reply an improvement over something?

"I’m an Optimist, and I Believe in the Dao’s Intrinsic Value Propositation," Lim Said. "The Criticisms of Dao – They’re Clumsy and Messy and UNMANAGEABLE- -ARE the SAME CRITICISMS of Democratic Philosophy. Both, in my, in myview, are polmannt works in progress. ""

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Lucknow Investment

Born rebellion, not going to be unusual.

Wen 丨 Chinese Shang Tao Lue Liang Liang

On October 9, local time, the kingdom of India’s largest corporate lost its spiritual leader: the former chairman and honorary chairman of the Tata Group Latan Tata died.

Indian Prime Minister Modi said he was a distant business leader, compassionate and extraordinary people.

Indian GDP’s largest Bang Mahara Shihara Shihara, a mourning day and funeral for him to commemorate his contribution and influence to the country and society.

The current richest man in India, Gutam Adini, calls him "giant, a resident who redefines the road of modern Indian roads."

[Rise in a low -key]

Tata Group may be a bit strange for many people, but it is a household name in India.

This company founded in 1868 has a history of 156 years. It is the largest group company in India, known as the "India’s First Corporation", and the owner of the two major luxury cars brands of "Land Rover" and "Jaguar".

Tata Group has a huge industrial layout worldwide. It has more than 100 subsidiaries, covering communication and information technology, engineering, materials, services, energy, consumer products and chemical products.As of March 31, 2024, the Group’s turnover exceeded $ 168 billion, with a market value of US $ 365 billion.

In India, "Tata" can be said to be everywhere.

One day in India’s middle class may be like this: get up early to drink a cup of Tata tea, take a car or taxi produced in Tata to work, pass the steel bridge built by Tata, walk into a company under Tata Telecom’s mobile phones and customers called, went to Tata’s supermarket to buy food after get off work, and then went home to rest.

As the fourth -generation head of the group, Latan Tata is an inevitable name in the history of Indian business. The Tata Group has also achieved the legend of Yao Shi in his hands.

In 1937, Latan was born in a traditional Pasi family, who was born in Mencius, India. His father was the adopted son of the founder of Tata Group, and his family status was not high.

Latan’s parents were separated in his childhood, and then his father remarried, making him laughed at and bullied by the outside world.Later, Latan was raised by her grandmother and learned a lot of people from her.

During college, Latan rejected the family’s paved path for him, chose to go to Cornell University to study architecture, and completed a senior management course at Harvard Business School. After that, he worked, loved, and even prepared to settle in Los Angeles.He once said frankly, "If I don’t consider the last name, I will be an architect."However, because his grandmother was seriously ill, he chose to return to China after many years.

In 1962, Latan followed the family arrangement to enter the Tata Group.

According to media reports such as the Business Standards of India, Latan was not favored by the family in the early years. On the one hand, he was rebellious, "not going to the ordinary road", and on the other hand, he was introverted and unhappy with others.

Although he entered a family business, he did not directly assume heavy responsibilities, but began a long experience from grass -roots positions.

In the next 20 years, Latan has accumulated rich experience in multiple subsidiaries, and has gradually established a foothold at the group, and then he obtained a unwilling subsidiary -National Radio and Electronics Company (Nelco)Management power.

At that time, Nelco was on the verge of serious losses. No one was optimistic about this company, and many people even thought it was unable to return to heaven.The elders in the family give this company to Latan, which is more like a "abandoned son" arrangement.

However, Latan was not discouraged.On the contrary, he devoted himself to every decision of the company in person, completely reforming the management structure, and introducing new technology and market strategies.Under his leadership, Nelco twisted his losses miraculously and expanded the market share.

Nelco’s success not only won the respect of the family, but also made him widely recognize in the company, paving the way for his future rise.

In 1991, 54 -year -old Latan replaced his uncle JRD Tata, becoming the new head of the group.In the 21 years of his helm, Tata Group ushered in unprecedented changes and leaps.

【Resonance with the times】

1991 is a key turning point for India.

This year, under the long -term economic dilemma and debt pressure, the Indian government opened unprecedented economic liberalization reforms to try to end India’s protectionist economic policy over the years.

The Prime Minister Lao decisively launched a series of policies to open up markets, relax foreign investment restrictions, reduce tariffs and industry protection to stimulate economic growth, and the Indian economy began to move towards globalization.Kanpur Stock

This provides a huge opportunity for Latan, who has just taken over the chairman of Tata Group.He keenly aware that the Tata Group could no longer rely only on local markets and family -style operations. He must greatly innovate the management mechanism and team of enterprises and participate in international competition.Hyderabad Investment

At that time, the Tata Group was quite large, but the disadvantages at the management level were increasingly revealed.Most of the subsidiaries of the group are controlled by a group of older generations of older generations of 70-90 years old. These people are highly important, but they are conservative and their willingness to change.Essence

Latan is determined to carry out a thorough reform within the entire group.

He bought the controlling stake of all major enterprises through the group holding parent company, set the retirement period for the older generation of executives, and passed the "cutting fan" tactics to allow a large number of young and promising elite backbones to the front desk.At the same time, the enterprise system that directly reports to the group office will increase the management and control of subordinate companies.

Then, Latan began to do subtraction and focus, and took the initiative to withdraw from the fierce competition industries such as cement and textiles.Decision speed.

For Tata Iron and Steel, which had lost tens of millions of dollars before taking over, reforms the reforms, and reducing the number of employees from 78,000 to 45,000. At the same time, it spent $ 2.5 billion to purchase advanced equipment to fully upgrade the production line.After the reform, Tata Iron and Steel had a double output within three years, with a profit after tax of 380 million US dollars, becoming the group’s most profitable subsidiary.

On this basis, Latan started to improve the unity of the group, and used the same logo and the same brand to formulate a more modern operating framework to gradually integrate the management level of the group with the international standard.Base.

In 2000, Tata Group successfully acquired the world’s second largest tea company British Teltela Group for $ 389 million, which truly took the first step in globalization.

In 2007, Tata Group spent $ 11.3 billion in US $ 11.3 billion to successfully acquire the second largest steel company in Europe, Yinghe Cruise, to set a record for India’s largest overseas mergers and acquisitions at the time, and made Tata Steel a new steel company in the world. OneTime is famous.

In 2008, the Tata Group acquired the British luxury car brand Jaguar and Land Rover from Ford at a price of $ 2.3 billion.At that time, many people questioned whether Indian companies could successfully manage such complex luxury brands, especially under the shadow of the global financial crisis, and the transaction seemed to be adventurous and unpredictable.

In a question, Latan led Jaguar and Land Rover to redesign the product line, optimize the management team, and reshape the brand image, which not only made it successfully out of the dilemma of losses, but also brought considerable benefits to the group.In 2013, its profit after tax was $ 1.84 billion.

According to statistics, since 2000, Tata Group has invested nearly $ 18 billion in the overseas acquisition of the Communist Party of China, mainly concentrated in the European and American markets.Among them, 71%of acquisitions are located in the UK and 21%are in the United States.Tata Group also followed the expansion of these businesses to successfully transform from an introverted family business to a global multinational company.

Nowadays, regardless of steel, tea, cars, and communications, the Tata Group is in the leading position of the Indian market.By 2015, the output value of Tata Group had accounted for 2%of India’s GDP, becoming an important force to promote the national economy.

During the Latan 1991-2012, the group’s core business achieved a gorgeous transformation from traditional to diversified. Return income increased rapidly from $ 6 billion to $ 100 billion, and the Group’s market value increased by 17 times.

Today, the business map of Tata Group has covered more than 100 countries and regions around the world, and up to 60%of the revenue comes from the international market.Chennai Stock

Latan’s global strategy and leadership not only changed the destiny of Tata Group, but also profoundly affected the modernization process of the entire Indian economy.Under his leadership, more and more Indian entrepreneurs have joined the international market and let India go to the world.

As the current chairman of Tatta Group, Chandrasecaran said in the statement that Latan is "a truly unusual leader. His huge contribution not only shaped the Tata Group, but also created India’s national structure."Essence

Li Jiacheng has repeatedly emphasized "knowledge changes destiny". The Yangtze River industry can quickly globalized and continue to leverage the industry with capital means.Report.

Latan leads Tata to become a very important foundation for global groups. It is also here: From Cornell University to Harvard Business College, he not only learned knowledge, but also increased his knowledge.Essence

[Heritage left to the world]

The founder of the Tata Group James Shentji Tata once set two principles for the descendants of the family: entrepreneurs must be loyal to the country, and they will be loyal to employees and shareholders.

This spiritual heritage was inherited among the leaders of the Tata Group.

Latan has expressed his views on wealth on many occasions. He always insists that companies should not only pursue profits, but also work hard to social prosperity and well -being.

The NANO car project launched by Tata Group is the embodiment of this concept.

When Latan saw many Indian families squeezing on a motorcycle, the idea of ​​"every Indian family should afford a safe car".To this end, he personally participated in the design and production, leading the Tata Group to launch the world’s cheapest car NANO at a price of only 100,000 rupees (about 8,400 yuan).

Although NANO cars were eventually discontinued due to security problems and marketing errors, it provided an economic affordable travel selection solution for low -income families in India, which also reflected Latan’s commitment to improving the low -level life of society.

Latan also created tens of thousands of employment opportunities for the society through the diversified business layout and global expansion of the Tata Group.Taking the Tata Consulting Service Company (TCS) as an example, it provides thousands of Indian young people with opportunities to enter the global IT market, create a large number of high -paying jobs, and promote the professional ascension channel of the middle class of India.

In the more than 20 years of leading Tata Group, Latan has become one of India’s most international reputation business leaders, and has been hailed as a rare "conscience entrepreneur" by Indian media.

In addition to the identity of business leaders, Latan is also a respectable charitator.

Through the Tata Trust Fund, he strongly supported India’s medical, education and science and technology development, and helped countless groups that needed assistance.Regardless of funding for education projects, establishing the Institute of Social Sciences, or promoting community development, Latan has always done a person and practice social responsibility in practice.

To recognize the outstanding contribution of Latan to India, in 2008, the Indian government awarded him the Lotus Ceremony, which was the second -level citizen honor awarded by the Indian government after the Indian National Treasure Medal.

During the new crown epidemic, Latan himself donated 5 billion rupees (about 420 million yuan) to the anti -epidemic cause.He said, "In a country like us, business leaders must be used as examples, instead of exaggerating wealth and status."

In 2012, after the chairman of Latan’s steps down Tata Group, he became an angel investor and put more energy into the investment of Indian mobile Internet and technological innovation, and continued to promote the modernization of Tata Group and Indian society.Essence

According to statistics, in 2016 alone, he invested 17 technology startup projects.He said: "I like to invest in young people’s startups and give them the power of free choice. The greed of wealth is never my purpose."

In 2015, he also strategically invest in Indian mobile phone manufacturers -Xiaomi.

The media people who have interviewed Latan evaluated him:

"Simple, calm, kindness, encouragement, humility, calmness, and curiosity."

【Reference Information】

[1] The official website of Tata Group

[2] "The death of the famous Indian entrepreneurs, Modi Mourning" Global Times

[3] "Indian Crocodile Giant Crocodile Latan Tata Death" Surging News

——End —————

Welcome to pay attention to [Huashang Tao Lue], know the characters of the wind, and read the legend of Tao Tao.

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