Tokenized and MintBlue logos

How not to do DAOs?

This post originally appeared on ZeMing M. Gao’s website, and we republished with permission from the author. Read the full piece here.

Most ‘DAOs’ are a diversion tactic to avoid responsibility,” – Niels V. van den Bergh, CEO, mintBlue.

The rest are just a result of being ignorant of the existence of such responsibilities.

It’s a fantasy, an imagined fake world where responsibilities do not exist.

This doesn’t mean smart contracts are useless, however. There’s a right way to do it.

What is much needed is systems that “refactor” (borrowing the phraseology of James Belding, the founder and CEO of Tokenized) a variety of business processes and markets, and make them more efficient.

mintBlue itself is a great example of the right approaches. It develops and uses protocols on a public shared database on a scalable public blockchain to enable interoperability without data duplication, and to increases data integrity, security and traceability. Using mintBlue protocols, businesses can create data, payments and invoices etc. on a secure and scalable public blockchain.

Tokenized is another great example. Tokenized has a serious take on the business realities. It makes intelligent uses of a scalable public blockchain, smart contracts and tokenization, and along with them creates a complete software framework to encapsulate the necessary business relations and environment.

Tokenized to today’s businesses is what ERP software was to businesses in 1980s, meaning just the beginning. ERP was softwarization of resource relations, while Tokenized’s is tokenization of asset ownerships along with smart contracting of business relations. ERP reaches larger companies only, but Tokenized covers the entire spectrum of the global businesses, from micro-projects of a fraction of a person, to the largest corporations in the world.

Unlike most others, mintBlue and Tokenized did not fall for the Bitcoin craze of get-rich-quick schemes that mistakes creating a new coin/token for building a product. Rather, they took a serious and honest approach, both business-wise and technologically—what should be the norm has become an exceptional heroic action by a few in the cryptocosm.

With such honest business services, you do not make your responsibilities disappear, you find better ways to fulfill your responsibilities.

Both mintBlue and Tokenized are built on BSV blockchain, the real Bitcoin blockchain according to the original vision of Satoshi.

Take a look at BSV blockchain ecosystem. You will probably laugh harder at the DAO’s promoted by others, but feel an awe about the future of the “Smart-Business Paradigm.”

This article was lightly edited for clarity.

Watch: CoinGeek New York presentation, Tokenizing Equity & Debt Instruments

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.

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