Billionaire philanthropist Kimbal Musk and brother of Elon Musk, now the avid creator of the decentralized autonomous organization (DAO), says most of these unreliable structures are controlled by a few founding members.
in speaking at Consensus 2022 In Austin, Texas, Kimbal Musk launched Big Green DAO Last year, food justice charity Web 3 said its findings revealed that in fact most DAOs were not designed to prevent accumulation by a few members – which It was what he was trying to avoid.
“It’s called ‘decentralized,’ isn’t it?” Kimbal Musk asked the Austin crowd. “How much power do you have to decentralize to really be decentralized? I think the most important thing is to have a system that prevents the accumulation of a single person. To be honest, I think most DAOs are designed so that founders can control it.”
The DAO for Kimbal must be continuously decentralized to avoid power build-up. This is why donors and organizations who have been voted on in the Big Green DOA have a limited time limit. This means they have to relinquish their position. and must be voted back into the organization every quarter
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