Predicting the Future of DAOs with Sam Padilla, Chase Mayeux and Alexi Cortez (Episode 330)
Predicting the Future of DAOs with Sam Padilla, Chase Mayeux and Alexi Cortez.
This panel includes:
MODERATOR: Alexi Cortez – Community Product Manager at .Erth
SPEAKER: Chase Mayeux – Head of Operations at Coral Defi
SPEAKER: Sam Padilla – Member of the ATX DAO
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The following transcript was created using artificial intelligence. There will be some grammatical errors below.
00:00:00:00 – 00:00:28:06
Steve: Appreciate every single one of you for being here. If you wouldn’t mind taking a seat. We’re going to get to our next panel. Of course, you’re welcome to go back out into the main area to network if you’d like to keep talking. But we have a phenomenal panel on Dallas coming up for you right now. Please join me and we’ll be welcoming to the stage Alexi Cortez, the community project manager at Dot Earth, Chase Mayhew, head of operations at Coral Reef High, and of course, Sam Padilla from ATX down. Let’s hear from.
00:00:32:06 – 00:00:32:21
Chase Mayeux: Thank you.
00:00:34:06 – 00:00:35:04
Chase Mayeux: Thank you. Thank you.
00:00:35:12 – 00:00:38:24
Alexi Cortez: Enjoy, guys. Excited? Okay. Yeah.
00:00:40:25 – 00:00:42:13
Chase Mayeux: Everybody. Good morning. I already did.
00:00:42:15 – 00:00:43:26
Alexi Cortez: Good morning, Jim.
00:00:44:06 – 00:00:44:21
Alexi Cortez: Howdy.
00:00:45:20 – 00:01:05:23
Alexi Cortez: So, everyone, I’m Alexis Cortez. I am kind of in a mix of roles because I work at a startup, so I’m technically a product manager, but realistically, doing all of the growth. And I have a very controversial opinion on Daos, which is why I’m very excited to moderate. But before we jump in, all that Salmon chase, give introductions and please mention your involvement with Dallas.
00:01:06:04 – 00:01:36:09
Chase Mayeux: Yeah, absolutely. Everybody, I’m Chase Mayhew. I am the head of operations for Coral Defi. I’m an Air Force brat. The moved every two years all over the US. Born in Germany. My middle name is Austin. Little Brothers. First name is Houston. So it was kind of written in the stars to finally make it to here. I am the on the advisory board of decent Dao. I created dinner down here in Austin. We started at McDonald’s and kept trying to work our way up to better spots. I became really interested in Dallas through the writing of Doudou Chan.
00:01:36:26 – 00:01:44:03
Chase Mayeux: It was later expanded upon by Dow Jones in 1882 and popularized by system of a down pretty recently.
00:01:44:05 – 00:01:44:20
Chase Mayeux: So
00:01:47:26 – 00:02:21:05
Sam Padilla: getting change is going to be hard to beat. Everyone, my name is Sam. My my day job I am I’m actually representing, which is interesting. I do crypto at Google Cloud for my day job and my night job is at Excel. So I’m one of the core contributors to exile, trying to. We’re now dedicated to our sin and trying to make us into the crypto capital of the world. And inside of these two things, I also do a lot of ad hoc kind of like advising and consulting for some other companies. And I write about dollars and philosophy and all that stuff.
00:02:21:07 – 00:02:31:15
Sam Padilla: So kind of kind of excited to share a little bit more about the things that I’ve learned in the space and talk about the big ideas that I have, at least around around the house and governance.
00:02:32:19 – 00:03:01:03
Alexi Cortez: Thank you. All right. So first question I have is I’ve met some people that are major evangelists of Dallas. They think Dallas are going to completely change the future and are super innovative. And I personally don’t quite see that just yet. But again, I’m not involved in the Dallas, so maybe I’m missing something. But to me, they they resemble a company with voting rights or social clubs like Soho House. So I’m curious what your take is on what innovation and how much progress a DAO can contribute versus existing models.
00:03:02:25 – 00:03:34:01
Chase Mayeux: So I think Dallas are really exciting because when I left college I was pretty determined to start a company. And so you go through all the steps of forming an LLC and that can be kind of a barrier of entry to a lot of people. Then you have the ability to, you know, as, as people were unifying and things that they were all commonly interested in. And on Reddit, a lot of people have explained Daos as a Reddit with a bank account, which I think is kind of cool and a little bit accurate.
00:03:34:15 – 00:04:06:23
Chase Mayeux: So instead of people having to go and figure out how to start a company, you know, there’s, there’s all these daos created, whether they’re social dollars, investment dollars or product hours, but something that everyone’s interested in, where they can essentially go and it’s fully automated and they can onboard themselves and essentially start or be a part of a company very seamlessly without having to go through the LLC, registration irons, plugged into a bank account, all the other additional tax burdens that go with that as well.
00:04:06:25 – 00:04:12:03
Chase Mayeux: So I think it’s kind of cool that you can very easily go and and become a part of something that’s interesting to you.
00:04:13:26 – 00:04:44:12
Sam Padilla: So I would say that I think there’s a really big common misconception around the point of those. I think a lot of people see those as just another business organization or as a co-op or as a group, or they try to label daos as traditional companies. And a lot of people think that kind of the end game of DAO is is, oh, those are the future of companies or dollars or maybe the future of non-profits or daos or maybe the future of investment clubs or whatever.
00:04:45:15 – 00:05:11:16
Sam Padilla: But I think people miss the point that the true end game of the House is not necessarily any of the previous things I mentioned or any of the existing business organizations. I believe that the end game of the house is decentralization building and as a consequence, Daos are not so much about running a business as it is creating a new government. And as a consequence, the beauty of daos lies not necessarily on
00:05:13:01 – 00:05:34:12
Sam Padilla: the things that you do as a DAO, but on the governance innovations that come from Duke Innovations. So that would be my, my, my first argument is I think Daos bring a lot of innovation in governance that we frankly haven’t seen in hundreds of years. And. That’s what really excites me about the space and about the house.
00:05:35:08 – 00:05:40:08
Alexi Cortez: Nice. Thank you. So my second question, or maybe third question, I’m losing track, but
00:05:41:26 – 00:05:54:23
Alexi Cortez: a doubt to me means that everyone has a voice. Everyone has a vote. But if voting is token gated and based on token ownership, how do you prevent either one person or a small subset of people from owning all of the important?
00:05:57:12 – 00:06:31:08
Chase Mayeux: That’s a good question. And, you know, that often happens where you’ll have a project where or a dhow and you have a whale that comes up and scoops up the ownership. I think that is often the result of it’s kind of what the free capital market is all about. If you have something of value, then it draws in people that want to invest in this and the value of those tokens grow. So then you have people kind of fighting for ownership of of their tokens and involvement with the DAO. So where, you know, that could be an issue.
00:06:31:10 – 00:07:10:14
Chase Mayeux: It’s also kind of a double edged sword. I, I, I believe and you know, it’s also kind of something good where people fight to have a majority ownership of of this DAO or protocol or project and and at the same time there’s different mechanisms that can be built in to where, you know, maybe it’s not strictly based on acquiring the governance tokens by buying them, but but through participation and pulling your weight within the Dow and taking on different bounties and jobs that you do to get kind of more of a say in what the decisions are made in the DAO.
00:07:11:24 – 00:07:42:10
Sam Padilla: I do think there’s kind of a11 solution fits all for DAOS. As you were saying, there’s a lot of mechanisms. There is, of course, quadratic voting in which the weight of of your vote reduces quite radically based on the tokens they have. So the more tokens you have, you only get like have more votes as opposed to proportionally. There is of course, like NFT voting, which is actually what we have with TXI in which you are a member, you have the same vote. So there’s no more voting rights than, than, than any other people.
00:07:42:12 – 00:08:13:06
Chase Mayeux: You could even limit the the NFT is that given wallet can hold. So there’s there’s a there’s a lot of solutions that the house that been experimenting with. And that’s kind of part of the beauty of automation of like governance, innovation. But I think that the thing that I would like to point out is that even in cases in which a malicious actor comes and buys most of the voting power or plays the game games, the system in a way that they can, they are able to concentrate most of the voting power.
00:08:13:21 – 00:08:39:27
Chase Mayeux: At the end of the day, governance structures are always superseded by social consensus, meaning that and I guess it’s easy to give an example to explain what I mean. So I don’t know if anyone here is involved with Cosmos but us. Around March earlier this year, one of the biggest changes in Cosmo was called Juno, and they had a they had a new job last year and somebody game the system in Juno such that
00:08:41:19 – 00:09:24:20
Sam Padilla: they were able to consent to like 30% of the voting power based on gaming the job system. And that was a huge risk for an entire community because had a huge voting power in the entire decision making of the DA and also a validation of the chain and so on. So they passed a proposal in which they literally said, you know what, Those tokens are not yours. We’re going to take them away. And that was like a huge deal back in back in March or February of this year when that happened, because I was like one of the first times or one of the first time since the Dow hack of a theorem in which the community basically said, you know what, we’re going to erase the canon historical situation or the historical state with, or we’re going to reshape the historical state that the blockchain is keeping track of.
00:09:24:29 – 00:09:47:11
Sam Padilla: And some people were enraged and people voted against it. It was like a huge political issue. But that just goes to show that at the end of the day, like the same way that this happened with Juno or the same way that it happened with Ethereum during the DAO hack, social consensus always supersedes the governance system. So if it happens to be that somebody comes in in a malicious way, completely buys out of the whole, the people that organize it out could like
00:09:49:15 – 00:10:24:16
Sam Padilla: just create a new one except change the consensus if they all agree to do so. Right. So there’s also I guess one of the bigger beauties of crypto is the right to work, the right to leave the right to exit the same way that Ethereum had the right to exit. When in doubt, Hack happened and or Juno’s hacked, right to exit when when the airdrop gaming happened. So social consensus kind of always supersedes what is agreed upon and the governance and I guess that’s part of the be it is like if the community sells to wants to do something good, they can agree to continue to do that good regardless of the death acts.
00:10:24:18 – 00:10:25:03
Sam Padilla: I guess.
00:10:26:09 – 00:10:50:12
Alexi Cortez: So in that same vein, and I’m skipping ahead, but social consensus is an interesting one because everyone has different levels of of likeability, of influence. Some people may just not have any charisma. And that’s going to impact how people, though, and how people influence others within the organization or within the DAO. How do you think that plays a part in voting and in just general, like generally how that impacts Daos?
00:10:53:27 – 00:11:20:17
Chase Mayeux: Well, there’s I guess there’s there’s two ways where you can make decisions. There’s, you know, there’s concave decision making and convex decision making, which is kind of expanded upon really well by vitalik in some of his latest writings. So, you know, in some instances, it’s you know, it’s better to have a consensus of people making decisions,
00:11:22:19 – 00:11:53:05
Chase Mayeux: let’s say concave decision making where you have option A and option B and plotted on a chart. It makes an arc like that. And you can decide whether to allocate funds to project A, project B, and maybe in that instance, it wouldn’t be as good to to dedicate a token specifically to one project, but instead diversify your bet and help both projects with a better likelihood of one of them succeeding.
00:11:53:20 – 00:12:33:28
Chase Mayeux: So so that is a decision made on a concave chart, and it’s better to get that consensus. And then you’ve got convex decision making where you have decision a, let’s say a military perspective, and you want to attack, you know, a target here with your forces or there’s another target here. And you can you know, you can choose one or the other or you can do both and divide your troops. And in that instance, you divide the troops. It’s a convex decision. And in that instance, it’s not it’s not as favorable of a decision to do both and reach a consensus.
00:12:34:00 – 00:12:34:15
Chase Mayeux: So,
00:12:35:24 – 00:12:56:19
Chase Mayeux: you know, in that in that case, daos really aren’t suitable for every single, you know, every everything you want to do. You don’t need a dollar for everything. Sometimes you need subjective leadership to step up and make decisions. So in that case, it’s not really a one size fits all. In my in my mind.
00:12:57:25 – 00:13:33:21
Sam Padilla: I think this is just kind of a a challenge of humans, more so than there are about dollars. I think it’s it’s it’s present everywhere. If you go to an interview and you never smile and you do an interview and you smile all the time, I would be willing to bet that, like it’s just humans are bias or social creatures. And at the end of the day, if you’re charismatic, it’s easier to do things that involve other humans. And I guess this also points to a deeper issue with that. Was that incorrect as a whole? A lot of people try to eliminate the human element in crypto, or they say crypto is about trust elimination and I don’t necessarily agree.
00:13:33:23 – 00:14:07:00
Sam Padilla: I think like you can’t get rid of the human aspect of it because at the end crypto is just trying to give us a tool or a technology or a base layer to to build a new societal structure on top of and society at the end of the day is made of humans, right? So it’s not so much about completely removing the human of the equation or completely removing Charles from the equation, but about minimizing it. So what are some of the processes, the governance processes that you can build so that you can minimize the trust you have in the specific humans or in on or minimize the impact of charisma in the decision making or in the voting power or whatever.
00:14:07:02 – 00:14:25:06
Sam Padilla: But at the end of the day, I think like that was in crypto. A whole are still about humans and humans are social creatures. And that’s something that we need to be aware of as we think through the governance systems of Daos. And, and we think about that in general or crypto in general, like humans are part of the equation. And this is an issue about humans totally.
00:14:26:01 – 00:14:58:07
Alexi Cortez: So the next questions about information and voter participation, I maybe I’m interrupting too much, but I’m never a well-informed voter. And I think that that’s a big flaw of mine. But it’s really hard to be a well-informed voter, especially like going to vote in Austin. And like, there’s just so many things that I should be read up on that I’m not. And then voting participation is also really hard. So given that a DAO is structured around mostly voter participation and then like everyone being well-educated and well-informed and holding people accountable, how do you think that plays a role into voting with Daos?
00:14:59:11 – 00:15:01:14
Chase Mayeux: Well, I think just to start, it’s important that you
00:15:03:03 – 00:15:39:09
Chase Mayeux: join something that you’re actively passionate about, whether it’s, you know, a product you want to create, an investment you have a good thesis on or a social cause that you really feel really passionately about. And if that’s the case, then you don’t have to try to to, you know, force everyone to participate and vote. But instead, it’s much easier to be, you know, kind of a shepherd of of doing it on your own. And and if not, you know, those members can often leave or they can be maybe incentivized. But at the end of the day, you know, these are very social things where, you know, you just you join it because you love it.
00:15:39:16 – 00:15:43:15
Chase Mayeux: And if that’s the case, then, you know, participation should relatively be high.
00:15:44:19 – 00:16:35:08
Sam Padilla: I it’s I think there’s a lot more work that needs to be done in voting delegation, voting delegation or necessarily like validation those. Risk taking traditional speaking but avoiding delegation because. So like you vote in Texas or let’s say you vote in the US or you have the right to vote in the US, not by choice. You didn’t get to choose to opt into the United States voting system. You were just born here. Hence you have the rights to vote, right? So I don’t think it’s so much about like caring necessarily about what you what you’re involved. But it and one could argue that if you even joined it out to begin with, there’s some level of interest into whatever it is I was doing and there’s going to be different levels of engagement like people are probably part of like if you consider to be a part of a DAO, to just hold the token and then the token or the token holders of that specific organization kind of created a DAO, then people who are actively engaging went through your part of like, I don’t know, $10 or something.
00:16:35:10 – 00:17:23:13
Sam Padilla: I’ll be curious to see kind of the average is here. But like there’s a lot of it’s hard to keep up with everything that’s going on. And as a consequence, one of the biggest issues that most of us face, as you probably know, is voter participation and voting engagement. There’s only 15 or 10%. I remember reading this is the number that is usually 15 to 10% of token holders actually voting proposals. But I think one of the biggest issues is because there is not a very strong way to delegate votes. And that’s also one of the really cool innovations of the House or one of the things that daos enable compared to the traditional American voting system in which you have voting delegation in which your votes are stuck with the same person for two years, four years, depending on the person that you choose, right? So you put in a president, you’re delegating you’re you’re, you’re delegating your vote to whatever two or representatives.
00:17:23:15 – 00:17:54:23
Sam Padilla: I guess they bit example you delegate your your vote to this representative and then the representative goes and represents you for two, four years. And then if at any point in time this representative decides to or chooses or whether they act are acting in a way that you don’t agree with, you’re stuck with them for like two years. So basically you have a voting delegation period of 2 to 4 years. The cool thing about that was that I was going to table is as sort of voting on more important things as dollars become like countries and you actually are voting on laws that affect you another way. Maybe a dialog box is a proposal to to offer health care.
00:17:54:25 – 00:18:38:17
Sam Padilla: And you were deciding whether that should be free or not. If you’re not informing that issue, then you can basically delegate somebody. That is. And then when the next issue comes up and the next issue is about technology and you actually happen to know a lot about technology, then you can vote on your own, you can receive delegations, you can build incentive systems are on those applications. So it’s just really exciting to to think that and compare what what is happening in dollars and the governance innovations happening in dollars and compare that to the traditional voting system, not just in the US but in the any democratic system in the world. And you realize, wow, there’s a lot of cool stuff happening here, there’s a lot of cool things that you can do, and there’s a lot of cool things that you can empower voter participation, encourage voter participation at a small and also at a higher level as well.
00:18:39:00 – 00:19:14:29
Chase Mayeux: And just to add to that, it’s kind of the beauty of Daos is that you don’t need max participation. There’s not that chokehold of everything running through one central person, Parker McCurley, CEO of Decent Labs, now decent Dao. His vision of that is, well, one, he doesn’t look at resumes he he has it fully automated people can onboard themselves. And you know at the end of the day you just don’t need everything running through Parker At some point he ideally is going to be phased out and not, you know, a critical component of that.
00:19:15:01 – 00:19:17:29
Chase Mayeux: DAO not needing to participate ideally.
00:19:18:01 – 00:19:52:02
Sam Padilla: No, But I think like at the end of the day, you do want people to engage with voting either not necessarily the people themselves, but you do want to have the the voting power being used for something because one of the core ideas of a that is to be able to distribute ownership and decision making amongst people. Right. So if you don’t have if you have a supply of decision making power or decision making tokens, let’s just just throw the word token out there. If you have a supply of decision making, tokens of 100 and only ten tokens are actually voting, basically you have the DAO being dominated by ten people.
00:19:52:25 – 00:20:16:03
Sam Padilla: And that’s is great because like a lot of the people who actually join the Dow and hold the tokens, they actually own part of the Dow and are supposed to own part of the Dow and oftentimes put the money in that is often being used. So, no, I definitely think that voter participation is a huge issue. And you do want to have people voting. But for that, you need to make it easier on people to vote. And right now, keeping up with this court is just an absolute nightmare. So very bullish and people are working on the tooling.
00:20:17:23 – 00:20:46:03
Alexi Cortez: Thank you. So I have a question, too, about misaligned incentives. I’m curious if you think Daos are still the right structure when there are misaligned incentives. And for example, I had one friend tell me that it would be awesome if Uber were a DAO because then all the drivers could vote to have higher payouts. But that obviously then penalizes all of the riders because their fees are more expensive. So do you still think that Daos are the right structure when there are two sides of a business?
00:20:47:22 – 00:21:19:15
Chase Mayeux: Again, I know people get really excited about wanting to dao ify everything because you. Really can. And but it’s not one size fits all. And that’s an instance where you need, I would think, a team to make those executive decisions to see, you know, who that affects. Is it going to be the the drivers, the riders, the shareholders? You know, it’s not for every single company. So I don’t know if Uber would be the best Dow, but maybe something like it can spring up out of the woodwork. That has innovations that we’ve had to explore.
00:21:20:00 – 00:21:52:17
Sam Padilla: Yeah, it’s really hard to design incentives like humans interacting with each other form in a way a complex system. And in any complex system, when you change a tiny thing in the complex system, you have absolutely no idea how that’s going to end up get an effect affecting the broader system. Right? You can draw some inferences, but it’s hard to know. Like we go to Yellowstone and we introduce wolves and then the rivers change the path that they that they are actually flowing through because it wolves actually eat. The rabbits that were eating. Some of the plains are on the river.
00:21:52:19 – 00:22:29:06
Sam Padilla: And then that’s basically making the river shift the path that is flowing through. So that’s that’s kind of the hard thing about complex systems. You don’t know how inputs are going to end up reflecting on the system as a whole. So I think there’s a lot of permutations going on, but I definitely echo what you were saying. She is like, not everything needs to be doubt and there are things that are really hard to do in a purely centralized way, which I may want to point out. There’s also another another shortcoming of a lot of people in crypto. A lot of people in crypto think everything needs to be centralized and that’s not really the case. Like so I work all right. And Google has like one of the biggest, if not the biggest, don’t call me on this, but one of the biggest like hardware infrastructure in the world.
00:22:29:28 – 00:23:07:09
Sam Padilla: And one of the biggest things, one of the biggest parts of that infrastructure is underground sea cables try to lay another grassy cable with a dial that’s going to be man. That’s right. Because it’s really freaking hard to do. And there’s things by which centralization actually helps. And decentralization in and of itself isn’t necessarily the end goal. All of these are just all centralization is a tool. Decentralization is a tool, and you’re trying to actually achieve a goal. I just think, for instance, that for the goal of rebuilding society, I think a decentralized society and a decentralized foundation is better. But there are things like laying an underground cable in which you may not necessarily be the case or over over can be another example.
00:23:08:18 – 00:23:35:09
Alexi Cortez: Thank you. So next question and then I think we’ll wrap up. Truthfully, I think that when people have a sense of ownership to something, they’re more likely to tell their friends about it and promote it and they’re more excited about it, even if they don’t participate in voting or even if they don’t really care about what’s going on. So I truthfully think that people like to dabble five things because you get extra word of mouth and extra marketing versus you actually care about decentralized voting. I’m just curious to hear your reaction to that.
00:23:36:17 – 00:23:44:02
Chase Mayeux: Yeah, I think we’ve seen that to a fault on crypto Twitter where you’re a part of something and you just want to tell everyone whether it’s a rug pull or it’s actually legitimate. So,
00:23:45:24 – 00:24:20:14
Sam Padilla: you know, there’s I was talking to my buddy Kiefer sitting here is going to be going on soon about I want to start like a treasure hunting club. Now, would that be a good company? I don’t know. But maybe every single conference we go to, there’s a group of like minded people that want to go seeking out a treasure of some sort. And the Dow can potentially provide, you know, some structure to that, a treasury and ability to vote. And it’s kind of a toolset that gives you the ability to do something like that much easier and have a kind of a spot for us all to unify.
00:24:20:16 – 00:24:32:07
Chase Mayeux: So, you know, that’s that’s one way where a Dao would be beneficial to it. And then of course, I’d be I’d be able to tell everyone there and then everyone else would, would obviously hear about it and because we’d be passionate about it.
00:24:33:08 – 00:25:15:05
Sam Padilla: No, I definitely agree actually, with with the issue that a lot of people just use dollars as as a as a marketing tool and as a way to get like buy in from people. And I think to your point is that has definitely contributed to kind of them Emetics have corrupted Twitter, but I would like like to challenge also the audience and anybody who’s listening to this through the podcast, like if you’re getting involved in crypto, make sure that you do so for the right reasons and you understand what you’re doing. This because there’s a lot of people in this space and this is like frustrating for me. How many people in the space are just repeating the same very shallow arguments about alignment of incentives or ownership or what one, what, two or three or privacy, whatever, like and then we actually probe deeper.
00:25:15:12 – 00:25:51:11
Sam Padilla: There’s not a lot of substance era. I don’t know if you guys have heard of the term the hollow obstruction. I think a lot of people have very convincing ideas on crypto, but they’re based on hollow obstructions and how obstruction is. Basically you have a conviction that you don’t have a foundation for. So I challenge you to make sure that you have this foundation, especially if you’re bullish in the space, like, no way this matters. Be able to articulate what these matters and be able to like talk at a very deep level about why, for some cases an alignment of incentives would be beneficial. And don’t just because you have some skin in the game, just go around saying, Oh, number go up to the moon.
00:25:52:01 – 00:25:52:29
Sam Padilla: Bullish, right.
00:25:54:20 – 00:25:55:11
Alexi Cortez: LFG?
00:25:56:28 – 00:26:07:12
Alexi Cortez: Okay. So before we wrap up, Sam, last time we met for coffee, you mentioned that ATX was doing a ton of innovation. I just wanted to give you a couple of minutes to share about all the cool stuff that you guys are working on.
00:26:07:25 – 00:26:41:23
Sam Padilla: Yeah, it’s okay. So I’ll talk about the three things that were the visionary. So I’ll talk about what we’re working on and I’ll also talk about kind of like my personal vision for what ATX can can become. So it takes out, as I said at the beginning, is is dedicated to making Austin the crypto capital of the world. And we do that in three main ways, right? So we work a lot with community. So if you know, you know, there’s nothing like a group, like an ATX, our party or Meetup, so we host some of the best meetups and we actually connect the community in Austin. The other point is we do a lot of like ecosystem work with business and local artists.
00:26:42:01 – 00:26:52:03
Sam Padilla: So an example, have you been to Native, Native also on on East Fourth, there’s a huge mural that we actually paint and we turn into an NFT. You will raise money for some art projects here in town.
00:26:52:12 – 00:26:54:12
Chase Mayeux: I’ve got it on my shirt, a lot of shirt.
00:26:54:20 – 00:27:27:11
Sam Padilla: Hell yeah. This one. Yeah, Yeah, I was. I was going to look at it, but yeah, so there’s a lot of ecosystem work that we do, and there’s also a lot of policy work that we’re doing as well. So that’s kind of what I’ve been the most involved in. We’re trying to get that recognized as equal entities in the state of Texas. So I think the previous panel was that kind of a regulation. And that’s something that we’re we’re actively working on on how do we actually change the the legacy statute to be able to encompass ours and allow people to incorporate as as LLC, as in the state of Texas, while preserving anonymity, voting rights, And a lot of the things that we care about for for Dallas.
00:27:27:24 – 00:27:59:22
Sam Padilla: So that’s kind of what we work on. Those are the three main areas, if you want to know more just ATX outcome. But then my big vision for this is I think as I said at the beginning, the end game for Dallas for me is essentially is nation building. And I generally think that what we are doing can be a precursor to that. So just imagine a world in which every major city starts to have a similar DAO to ATX out, which is dedicated to their own city, a purely grassroots movement. And it comes a point in which it becomes beneficial to be part of that out.
00:28:00:00 – 00:28:34:03
Sam Padilla: And there may come a point in which it becomes more beneficial to be part of the doubt that it would be to be part of like your actual jurisdiction and imagined as I was just sort of connecting. So let’s say for instance, in many years from now, all the local dollars around the world are able to freely travel amongst each other. So somebody who lives in Indonesia or somebody who lives in Singapore and is part of the Singapore DAO has direct access to Austin. And whenever they come to Austin, they have access to health care or they have access to education, they have access to protection or to have access to to living. There’s a lot of really cool real estate smart city projects happening here, here in Austin as well.
00:28:34:15 – 00:29:07:28
Sam Padilla: So a lot of the a lot of the services that you usually would get from your state could be, in a way, decentralized, privatized and hosted by Dallas. And it comes a point in which it is objectively better to receive education from a down network than it is from your shitty school system in Columbia. So that’s kind of my big vision for this is a bunch of different local dollars across the world that are start to connect with each other and offer objective benefits to being part of the network. And as all this are merging more into the into this vision of a decentralized network state.
00:29:08:18 – 00:29:11:01
Sam Padilla: So that’s what I would like to see at some point happening.
00:29:11:03 – 00:29:13:00
Alexi Cortez: Thank you. And Chase, any last thoughts?
00:29:13:27 – 00:29:47:13
Chase Mayeux: Well, I’m honored to sit next to such a visionary. And Alexa, you’re amazing. And just sharing a stage with you all is incredible. Coral, we. We’re a hedge fund, high yield, stablecoin based fund. We we were having some trouble tracking all of our positions across all wallets, all traders. So we created it on our own because we could not find this anywhere. So we just launched Small under Coral Labs, and we’re going to be reaching out to a number of hedge funds that need data aggregation, defi accounting software the way that we did and we built it.
00:29:47:15 – 00:29:56:06
Chase Mayeux: So if that’s of any interest, you can always reach me on Twitter. And then I’m just excited to keep supporting and being a part of it. Our I can.
00:29:57:06 – 00:30:00:08
Alexi Cortez: Thank you and we are at time, so thank you all so much.
00:30:00:23 – 00:30:01:29
Chase Mayeux: Thank you. Thank you, everybody.
00:30:04:02 – 00:30:07:12
Chase Mayeux: Let’s keep it going for these fantastic panelists.
00:30:09:21 – 00:30:47:07
Steve: We will be back at the 50 minute mark on the hour, if you would mind rejoining us just about then for a talk on interoperability. But for now, feel free to take a bio break and get some water and we’ll see you back in ten. Thank you for joining us for another episode of Cryptocurrency. Cryptocurrencies, a cryptocurrency and blockchain education platform. Bridging the gap between curious newcomers for just discovering the space and the thought leaders for shaping its future. All opinions expressed by Richard Carson, the cricket team and their guests on this show are exclusively their own opinions on this show, and any other crypto print production is exclusively for informational purposes.
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