Vitalik: Visa's early vision is similar to the concept of DAO, now viewed as a centralized institution

According to Hashi Chain, Vitalik Buterin stated that Visa was founded on the principles of decentralization, which closely resemble the modern concept of Decentralized Autonomous Organizations (DAO). However, today Visa is considered a centralized institution that 'extracts value' or is 'oppressive'. Vitalik believes that this transformation process offers important insights for the governance and development of current Web3 and crypto networks. The discussion also touched on the concept of 'Chaordic Organization' proposed by Visa's founder Dee Hock, emphasizing that Visa was once an advanced example of decentralized governance and ownership, which is worth reflecting upon and learning from in the crypto industry.