The impulse of Metadao to revolutionize governance through market -based decision making is receiving an impulse from the creator of his creed: Robin Hanson.
The cryptographic group hired Hanson on Thursday, a professor of economy at the University of George Mason who created the notion of Fuarchy a quarter of a century, as an advisor paid. Its addition offers an intellectual and probable optical advantage for the one -year project that orders a multitude of the unnecessary of the solana cryptocurrency.
Fuarchy is based on the premise that markets are better to determine optimal results than politicians or even their voters, popular power centers of modern politics. Fuartcaic government systems are more like a prediction market than an urn.
How it works, at least in the Metadao version, perhaps it is better understood by examining the way Metadao approached the question: “Should Robin Hanson hire as an advisor?” To do so, the project issued the markets where merchants could speculate on the price of target tokens if Hanson were hired and if it weren’t.
Read more: ‘The goal is that the number rises’: within the radical governance experiment of a DAO
Hanson is being hired because Metadao merchants exceeded the highest goal price on the stage where he was taken on board. Essentially, your participation would be more beneficial for the project than your absence, and it is worth 20.9 target ($ 24,000) that will be paid for two years.
Hanson is not in him for money, but for the “glory.” He devised Fuarchy because he believes that governance is fundamentally broken. In their mind, and Metadao markets, where people have a financial incentive to make good decisions achieve better results than political systems.
“If we could really have a better governance mechanism, we could change the world,” he said.
The pseudonym co -founder of Metadao, which goes through Proph3t, has been talking to Hanson about the design of his creation for at least a year. Proph3T brought the effort to formally hire Hanson against Metadao earlier this week.
His work “will be mainly the design of the mechanism and the strategy council,” according to the proposal page. You can also see Hanson co -authors’ blog posts on “new ferochic mechanisms.”
Metadao debuted in Solana Hacker House last year Mtndao in Salt Lake City. It was a success among cryptographic builders that froze in their own projects to negotiate their mass decision markets. Since then, Metadao governance markets have been adopted by a growing number of projects in the Solana ecosystem, including Jito.
Metadao is not the only project focused on the Fuarchy with which Hanson is getting involved, but said it is the farthest public effort. Cryptographic adherents are especially open to Futarchy because it aligns with the stories of innovation that said they are counted by looking for the meaning behind their wealth.
“When people earn money in the world, they need to tell themselves a story about why they earned money,” said Hanson, “cryptographic people tell themselves that it is their idea of ​​potential innovation and change in the world.”
