On Thursday, August 5, Metis hosted its first-ever Livestream fireside chat. Moderated by Metis CEO Elena Sinelnikova with special guests Emerge Founder/CEO Lucia Gallardo and Opolis Founder/Steward John Paller, the event focused on the future of work, and how blockchain technology can be deployed for social good.
Elena Sinelnikova began the event by discussing how the mission of blockchain has always been about solving problems with equitable solutions. Everything from financial inclusion to worker rights and protections can be improved through the use of blockchain.
Gallardo agreed, recounting her journey into the blockchain, one that started in earnest when she was just 8 years old. She grew up in Honduras, where inequality (from income to basic services) ruled. She’s since devoted her life and career to fostering equitable conditions when it comes to work. That’s what led her company Emerge to patent the idea of Impact-as-a-Service, baking Impact and human-based solutions into everything it does.
The discussion then shifted to Decentralized Autonomous Organizations (DAOs). Opolis has taken an incremental approach, working on convincing geographic jurisdictions (and the politicians within those jurisdictions) of the value of DAOs. The first and most visible step was Opolis’s success in guiding the U.S. state of Wyoming to ratify the first-ever law recognizing DAOs as a legal entity.
As DAOs gain popularity, they become a viable alternative to traditional incorporation strategies, given that restrictive local laws, excessively cautious attorneys, and other factors can muddle the incorporation process. Paller said that DAOs can be a great alternative, capturing profit rights while also offering securities exemptions, no need for Know Your Customer (KYC) red tape, and other benefits.
Gallardo added that this kind of structure has existed for a long time! In Colombia, Juan Valdez is a unified brand, under which the vast majority of Colombian coffee producers can unite, form a network, and share profits. Likewise, DAOs are the next step in harnessing the power of collectives to benefit many!
One of the keys to the success of DAOs, said Paller, will be compliance. If you’re going to contribute to DAOs, make sure you’re reporting your profits, paying your taxes, and doing everything above board. Regulatory bodies will be most likely to enforce non-compliance by going after tax evaders. Paller offered more thoughts on DAOs below:
Meanwhile, Emerge is contributing to the future of work by focusing on empowering communities that lack robust tech infrastructure and expertise.
Metis is proud to have Lucia Gallardo as Advisor & Emerge as a fellow Social Good-committed company. We are also proud to be an investor in and partner of Opolis, collaborating to build successful DAO structures.
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