DAOs and the Sovereign Individual

"The state has grown used to treating its taxpayers as a farmer treats his cows, keeping them in a field to be milked. Soon, the cows will have wings."

The quote above is from the 1997 book, The Sovereign Individual. Specifically, it explains how technology is reducing the leverage governments have over their people and companies.

For years, the Bitcoin community has marvelled at how accurately The Sovereign Individual predicted the rise of cryptocurrency a decade before Bitcoin was created, and looking back now, it's clear that Bitcoin has enabled people anywhere to take full control of their wealth without interference or intermediation from banks or governments.

But that's only one of many predictions the book got right.

Today, the idea that individuals can have full control of their wealth is being extended into the realm of corporations. The Sovereign Individual calls them "virtual corporations", but today we call them Distributed Autonomous Organizations, or DAOs.