Ziri Rideaux and Brendan Miller offer a vision in which decentralised autonomous organisations (DAOs) replace both corporations and governments as the preferred type of human organisation. Like Bauwens, they see moderm representative democracy and nation states as being incapable of solving various problems, which instead require global collective action, and envisage what a global direct democracy platform might look like.
In 5 to 10 years, decentralised autonomous organisations (DAOs) will increasingly outcompete corporations and representative governments as the preferred way to organise human endeavors, because they solve collective action problems better. This will lead to a renaissance of the democratic commons, by restoring ownership and control to the people, and usher in new forms of global stewardship.
Established institutions are failing
Modern governance is currently stuck at a developmental stage known as ‘representative democracy’. Insufficient controls over representatives’ actions have fostered corrupt governments unwilling to regulate corporations or themselves. The electoral process has been hijacked by special interests, and populations have become increasingly powerless, underserved and exploited. The growing popular mistrust in centralised power indicates that the time for decentralised, non-hierarchical self-governance has finally arrived.