A $50M Hack Tests the Values of Communities Run by Code

  • Members of the blockchain community have a lot of power, and are socially accountable for how they choose to exercise, or not exercise, this power.
  • If there is no central authority capable of applying the law, the blockchain community has a duty to intervene-that’s what “distributed governance” is about.
  • June 17, 2016 was an important day for the small but dedicated community that has formed around the nascent decentralized technology known as Ethereum, and for the blockchain community more generally.
  • The trusted agents are often regarded as a threat by the blockchain community, in that they might possibly collude into centralized control points that would harm the trustless nature of the network.
  • Many people from the blockchain community tend to believe that people (and organizations) cannot be trusted and social interactions should be mediated only and exclusively through computer code.

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@yaoeo: “To fork or not to fork? A $50M Hack Tests the Values of Communities Run by Code #thedao #ethereum #blockchain —”


The ideal of a perfectly trustless technology is nothing more than an ideal.


A $50M Hack Tests the Values of Communities Run by Code