Decentralized Autonomous Organizations: A Conversation With MakerDAO’s Rune Christensen
Decentralized Autonomous Organizations: A Conversation With MakerDAO’s Rune Christensen
The following is an interview we recently had with Rune Christensen, founder of MakerDAO
What's your background? How did you get involved in crypto/blockchain?
RC: After finishing my education I started a small business in China, and then discovered bitcoin in 2011, and around 2014 got into more advanced blockchain technology.
What value does MakerDAO bring to users?
RC: MakerDAO creates a fully decentralized stablecoin, Dai. It combines the best of blockchain and bitcoin (decentralization and transparency) with the best of traditional finance (stability). To back Dai in a decentralized manner without relying on a single counterparty, MakerDAO also enables a p2p collateralized lending platform that anyone can use on the same terms.
What are the most common misconceptions you hear about DAOs?
RC: That they don’t interact with the real world, or with legal systems. In almost all cases DAOs are always going to need to consider real world law and counterparties. Perhaps the strongest example is that of website domains. Almost all DAOs rely on website domains to give their users secure access to their services. Website domains are centralized, legal assets that unavoidably create a point of interaction with the real world and legal systems.
What’s next for DAOs in 2021?
RC: I think the amount of successful DAOs and community governance will continue to grow exponentially over the course of 2021. I also think that existing successful DAOs will begin to copy ideas from each other more, in order to improve and round out their governance processes.
Disclaimer
I confirm that I have read and understood the following: The information contained in this article is strictly the opinions of the author(s). This article was authored free from any form of coercion or undue influence. The content represents the author's own views and does not represent the official position or opinions of CrossAngle. This article is intended for informational purposes only and should not be construed as investment advice or solicitation. Unless otherwise specified, all users are solely responsible and liable for their own decisions about investments, investment strategies, or the use of products or services. Investment decisions should be made based on the user’s personal investment objectives, circumstances, and financial situation. Please consult a professional financial advisor for more information and guidance. Past returns or projections do not guarantee future results.
Xangle or its affiliated partners own all copyrights of the written or otherwise produced materials and content provided on the platform. Any illegal reproduction of such content, including, but not limited to, unauthorized editing, copying, reprinting, or redistribution will result in immediate legal actions without prior notice.
![[Xangle Briefing] ‘DigixDAO’, the first-ever Ethereum-based ICO, decides to return $62.5M USD to investors after a token holder vote.](https://resource.xangle.io/content/thumbnails/97/content_97_thumbnail_04d9bbef.webp)