It was very interesting to read in The Daily Bud about how funding and finance affect modern day research and how Crypto Currency could change the face of funding to research by using there own programs to help research and out-compete large pharmaceutical companies and corporations.
Great article Colin! Question for you... at the top of the schematic you shared, DAO members give funds, and in return they get Vita Tokens. Presumably, the value of the Vita Tokens will depend on the success of VitaDAO in having marketable stuff to sell to collect other funds. Based on the schematic, this is what it seems like. So, how is owning Vita Tokens any different than owning stock in a corporation that raises money, invests that money, then sells products or services, the success of which determines how much the stock is worth... how is this different? And if the answer is that it's not really that different, is this really just "crowdsourcing" for what effectively a Venture Capital fund named VitaDAO? And if that's the case, wouldn't it start to be regulated by the Securities and Exchange Commission (SEC) as such?
Good stuff Colin! Thanks for sharing such a thought-provoking subject!
Hey Kevin! I know I am a bit naive to the presence of venture capitalists within science, so hopefully I can still do justice to your question. I was particularly interested in how a DAO can disrupt existing scientific framework from the perspective of a lab at Universities. While affiliated with these Universities, the labs work on their own to secure funding. I think DAO's simply provide a new avenue for scientists to secure funding through. For instance VitaDAO is doing their first proof of concept with a lab out of the University of Copenhagen.
I would definitely suspect the SEC will find themselves in a tough regulatory position in the coming years. As a provider of liquidity to a DAO, you definitely hope/expect that returns are in your future. Further, given the nature of blockchains, you have "investors" from a variety of countries at one time creating another regulatory nightmare. The SEC regulating DAO's isn't entirely new. https://www.sec.gov/litigation/investreport/34-81207.pdf
From a broader view, DAO's still represent a way for "average joes" to get involved in funding scientific research and have a stake in IP.
It was very interesting to read in The Daily Bud about how funding and finance affect modern day research and how Crypto Currency could change the face of funding to research by using there own programs to help research and out-compete large pharmaceutical companies and corporations.
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Great article Colin! Question for you... at the top of the schematic you shared, DAO members give funds, and in return they get Vita Tokens. Presumably, the value of the Vita Tokens will depend on the success of VitaDAO in having marketable stuff to sell to collect other funds. Based on the schematic, this is what it seems like. So, how is owning Vita Tokens any different than owning stock in a corporation that raises money, invests that money, then sells products or services, the success of which determines how much the stock is worth... how is this different? And if the answer is that it's not really that different, is this really just "crowdsourcing" for what effectively a Venture Capital fund named VitaDAO? And if that's the case, wouldn't it start to be regulated by the Securities and Exchange Commission (SEC) as such?
Good stuff Colin! Thanks for sharing such a thought-provoking subject!
Hey Kevin! I know I am a bit naive to the presence of venture capitalists within science, so hopefully I can still do justice to your question. I was particularly interested in how a DAO can disrupt existing scientific framework from the perspective of a lab at Universities. While affiliated with these Universities, the labs work on their own to secure funding. I think DAO's simply provide a new avenue for scientists to secure funding through. For instance VitaDAO is doing their first proof of concept with a lab out of the University of Copenhagen.
I would definitely suspect the SEC will find themselves in a tough regulatory position in the coming years. As a provider of liquidity to a DAO, you definitely hope/expect that returns are in your future. Further, given the nature of blockchains, you have "investors" from a variety of countries at one time creating another regulatory nightmare. The SEC regulating DAO's isn't entirely new. https://www.sec.gov/litigation/investreport/34-81207.pdf
From a broader view, DAO's still represent a way for "average joes" to get involved in funding scientific research and have a stake in IP.