• A reliable report points out that there are approximately 50k active addresses on Tezos.

Kathleen Breitman, co-founder of Tezos, says that various DAGs remind her of high school.

Kathleen quotes in an interview with a crypto news outlet that “The way I see most of these DAOs fail, it’s like they basically act like a really bad school project,” she also added: “When I was in high school, there was always the person who ended up doing the work on the school project, so I’m very sensitive to this dynamic.”

Kathleen believes that the DAO can ultimately delegate to a single entity with a greater say in the decision-making process than its peers. Voting is one aspect of the DAO’s role, but identifying an agreed action is just as important.

“If you don’t have any way to algorithmically or programmatically apply the decisions made by the party, you’ll end up trading one sociable character for another,” Kathleen added. “That’s no way to govern anything.”

A decentralized Autonomous Organization is a flat business infrastructure built on blockchain technology that allows people to come together to draw conclusions using smart contracts.

Although sometimes defined as “group chats with bank accounts,” Breitman acknowledges that the governance process for various Web3 projects can often be mediocre.

Kathleen highlighted: “Many blockchains and DAOs are run as suggestion boxes.” Breitman believes that the decentralization of banking on the infrastructure of Web3 projects is key to its longevity.

Breitman said: “Because there’s actually a consequence of your vote, and it’s not just a suggestion box, people are automatically empowered,” he added, “I think it’s that empowerment that really drives people to participate in the process”.

According to CoinMarketCap, as of writing this article, Tezos is trading at $1.02 with a 24-hour trading volume of $13,223,308.50. It is also noted that based on market capitalization, Tezos was ranked 46th in the crypto market.

It is important to note that the all-time highest trading price for Tezos was $9.18 (in 2021), and the all-time lowest trading prices were under a dollar, almost $0.3146.

Kathleen also believes that Web3 is engaged in “decentralization theater.”

He concluded by noting that “We’ve had a lot of tourists in this space that have launched different tokens, and then they have these really aggressive programs that give high returns for people to participate in these ecosystems,” “And at some point… the money box it shuts off because the momentum stops building up.”

Nancy J. Allen is a cryptocurrency enthusiast who believes that cryptocurrencies inspire people to bank themselves and move away from traditional monetary exchange systems. She is also intrigued by blockchain technology and how it works.

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