⚡️ Urgent: Vitalik Buterin says that Visa started with principles similar to DAOs but is now considered an 'exploitative' entity!
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📈 The most important news:
* Vitalik Buterin, co-founder of Ethereum, stated that the Visa network began with decentralized principles akin to decentralized autonomous organizations (DAOs).
* Buterin pointed out that the public perception of Visa has changed over time, as it is now viewed as an 'exploitative' entity that imposes high fees.
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💡 What does this mean?
* Vitalik's statements highlight the challenges faced by decentralized systems over time, and how they can evolve into centralized and dominant entities.
* This observation serves as an important lesson for the web 3 community, emphasizing the need to uphold the core principles of decentralization and avoid drifting towards traditional business models that may harm users.
* This comparison enhances the discussion about the importance of building new financial systems that genuinely serve users and avoid the pitfalls of traditional systems.
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❓ Do you think that decentralized organizations (DAOs) will be able to avoid the fate that Vitalik described for Visa?
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