Decentralized Organizations: Balancing Individual Benefits And Regulation

According to Odaily, Crypto Quant founder Ki Young Ju recently shared his views on decentralized organizations, stating that while some believe the concept is a failure, he disagrees. He acknowledged that many decentralized projects have failed, primarily because early participants often reap significant profits and become complacent, making it difficult for later entrants to gain returns. Ju emphasized that balance is crucial and that complete decentralization is not always necessary. The core idea is to maximize individual benefits in alignment with capitalism, a concept that is still being explored to find the right balance. Ju highlighted that collaboration on the internet is worth attempting decentralization. He cited Wikipedia as an example, suggesting that it might operate more effectively in a decentralized manner. He mentioned Everipedia, a project aimed at this, but noted its lack of success, possibly due to the new team’s inability to match Wikipedia’s decades of experience and expertise. Ju proposed that Wikipedia itself should issue its own token, though he acknowledged the challenges posed by the lack of proper regulation. Ju argued that appropriate regulations could filter out scammers, encouraging participation from large companies or promising teams in such experiments. Conversely, without regulation, scammers would continue to thrive, and the potential of blockchain technology would be overshadowed by disrepute. He concluded that Web3 needs proper regulation unless advocating for decentralization equates to promoting anarchism.