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Aragon Agent and the future of DAOs

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Enabling organizations to interact on the decentralized web

Stefano Bernardi
early design mockup for the Agent app

This week Aragon One announced the release of the beta for Aragon Agent, “a fully-fledged Ethereum account owned by an Aragon organization”.

Reading it like that might not make all the bells ring, but for me Aragon Agent is one of the fundamental pieces of the infrastructure needed to transition to a decentralized web and, more importantly, decentralized commerce world.

With Agent, DAOs can now interact with any smart-contract as if they were a normal user. The Agent app will then look inside of the DAO to see if it can perform the action, or if it needs to create a vote from the tokenholders, and will automatically create the vote and execute the action resulting from that vote.

You will be able to use Metamask, Frame or other web3 interfaces and choose a DAO account, in a similar (but infinitely more awesome and flexible way) as using your corporate card on a website.

This means that DAOs are now one step closer to being fungible for people that want to create fully-online businesses.

Permissionless finance

With Agent, you can now pool your money together in a trustless way, and trade on decentralized exchanges, or stake your tokens on Staked, or lend them out on Compound, or provide liquidity on Uniswap.

Before Agent, there was literally no way to do this unless you wanted to rely on an offline legal structure and place 100% of the trust on the person actually making the transaction from their own private wallet.

I’ve always thought that DAOs will be the default choice for people that want to come together to collaborate on online business endeavors. Today, this is possible in the new world of Open Finance.

But it doesn’t stop there.

Permissionless commerce

Probably the biggest game changer will be in B2B.

Imagine a world where you are 100% sure that the organization that issued the invoice via Centrifuge is the one they are pretending to be, because you can see that the transaction has come from their ENS-registered DAO address. And you can pay the invoice from your own DAO by initiating a transaction and then not having to worry about approvals and executions. A vote is immediately created, and once everyone approves, the transaction automatically gets sent.

One of the major implications of all of this, is the fact that we are now encapsulating assets and business relationships in trustless containers. This means that DAO tokens can become part of the wider Open Finance web.

As we’ve seen, today DAOs can hold long crypto positions, loans, and other financial instruments, but in the not so distant future they will hold real estate and other tokenized real assets.

All of this means that we will use DAO tokens as collateral for other Open Finance applications.

So, you will be able to codify complex ownership relationships that result in a trustless ownership of a final asset.

If you’ve watched “The Big Short” you know that on Wall Street you never really own what you think you own. It’s always other people who own it, and they don’t always give it to you when you ask for it back.

And all of this, without having to ask for permission to any government even once.

Welcome to the future 🦅

Source: https://tokeneconomy.co/aragon-agent-and-the-future-of-daos-ac27d831e22e?source=rss—-fbbd350c08fc—4

Blockchain

Brad Garlinghouse Disagrees With Coinbase’s Zero Politics Stance

Ripple founder Brad Garlinghouse has voiced his opposition to the non-political workplace stance announced by Coinbase founder Brian Armstrong in September. Speaking to CNBC on Oct 26, Garlinghouse stated that he believes that tech companies have an “obligation” to be part of the solution to social issues. On Sep 27, Coinbase founder Brian Armstrong published […]

The post Brad Garlinghouse Disagrees With Coinbase’s Zero Politics Stance appeared first on BeInCrypto.

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Ripple founder Brad Garlinghouse has voiced his opposition to the non-political workplace stance announced by Coinbase founder Brian Armstrong in September.

Speaking to CNBC on Oct 26, Garlinghouse stated that he believes that tech companies have an “obligation” to be part of the solution to social issues.

On Sep 27, Coinbase founder Brian Armstrong published a highly polarizing blog post stating that Coinbase is a “mission-focused” company that will not emphasize or engage in social activism or political discussions in the workplace.

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The Great Coinbase Debate

BeinCrypto reported on Sep 29 that Coinbase banned all overt political activity in its workplace, stating its desire to be a company that focuses only on making good products and being profitable. Mixed reactions greeted the announcement, varying from enthusiastic agreement to angry condemnation.

Garlinghouse has become the latest high profile Silicon Valley figure to voice his opposition to the stance adopted by Coinbase. Garlinghouse told CNBC that he doesn’t agree with that position.

An excerpt from the interview reads as follows:

“We think about our mission as enabling an internet of value but we seek positive outcomes for society. I think tech companies have an opportunity — but actually an obligation — to lean into being part of the solution. The sad reality is — and I say this as a long-time veteran of Silicon Valley — some of these (societal) problems are, at a minimum, exacerbated by the tech platforms themselves.”

Head to Head

Shortly after Armstrong’s initial blog post was published, the company offered a severance package to employees who wished to leave due to the new policy.

The package included four months worth of pay for employees who had been with the company for up to three years and six months of pay for those who had been at Coinbase longer than three years.

It also gave these employees six months of health insurance through the Consolidated Omnibus Budget Reconciliation Act (COBRA). CNBC reports that roughly 5% of the company’s total workforce took this offer and exited. Armstrong reportedly claimed this as a victory for the “silent majority” within the firm.

Ripple on the other hand, is known to operate from the other end of the corporate political engagement spectrum. According to CNBC, the company actively promotes corporate activism in line with the thoughts expressed by Garlinghouse.

Among other things, Ripple is offering its employees paid time off to vote and volunteer in the upcoming Nov 3 U.S presidential election.

Source: https://beincrypto.com/brad-garlinghouse-disagrees-with-coinbases-zero-politics-stance/

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Bitcoin Just Had Its Highest Weekly Close Since Jan-18 While ETH Eyes $400 (Market Watch)

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After marking two consecutive yearly highs in the span of a few days, Bitcoin has calmed but still hovers over $13,000. Most alternative coins have remained relatively stable, and the market cap is yet to break above $400 billion decisively.

Bitcoin Stays Above $13k

Although Bitcoin started the weekend with apparent stagnation, the asset entered Sunday on a roll. BTC was trading at $13,100 but sharply exploded to a fresh 2020 high of above $13,350.

Shortly after, though, the cryptocurrency tanked in value, resulting in its intraday low of $12,900. Nevertheless, the bulls intercepted the price drop and drove BTC higher.

It’s worth noting that this was the highest weekly close of Bitcoin since January, 2018.

weekly_close
BTC/USD Historics Chart. Source: Twitter

In the past 24 hours, Bitcoin has been relatively stable. It reached a daily high of about $13,150 and has slightly retraced since then to $13,050. To continue its recent bull run, Bitcoin has to overcome the first resistance at $13,200. Further ahead, BTC could encounter obstacles at $13,400 before having a chance to challenge the 2019 high at nearly $13,900.

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Alternatively, $13,000 serves as the first support in case of a price break down. The following ones are at $12,700 and $12,500.

Market Cap Challenges $400B

The recent price increases have pushed the cumulative market capitalization of all cryptocurrencies to about $400 billion. The metric even surged above that level briefly yesterday but so far struggles to overcome it decisively.

Cryptocurrency Market Capitalization. Source: CoinMarketCap
Cryptocurrency Market Capitalization. Source: CoinMarketCap

Most alternative altcoins haven’t assisted in surpassing the $400 billion level in the past 24 hours. As the graph below demonstrates, most of them have displayed low fluctuations and even some retracements.

Ethereum spiked to about $420 a few days ago but has been gradually decreasing since then. ETH now trades just above $403. Despite a minor increase, Ripple is still around $0.253.

Bitcoin Cash (-0.9%), Chainlink (-2.7%), and Cardano (-1.7%) have lost value from the top 10.

BitcoinSV (5%) and Monero (4.7%) are the most impressive gainers from the larger-cap altcoins.

heatmap
Cryptocurrency Market Overview. Source: Quantify Crypto

Further gains are evident from Velas (20%), Filecoin (16%), and Quant (10%). In contrast, Ocean Protocol (-12.5%), ABBC Coin (-9%), Energy Web Token (-7.3%), Crypto.com Coin (-7%), and Ampleforth (-6.5%) have lost the most on a 24-hour scale.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-just-had-its-highest-weekly-close-since-jan-18-while-eth-eyes-400-market-watch/

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Alibaba Founder Jack Ma: Digital Currencies Can Create Value

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Founder and former executive chairman of the multinational technology conglomerate Alibaba Group, Jack Ma, believes that world regulators need to improve the legislation around digital currencies as they could create value.

Ma: Digital Currencies Could Create Value

In a recent speech reported by Bloomberg, the Chinese billionaire criticized the current global financial regulatory framework for its lack of innovation. He claimed that watchdogs are primarily focused on risk control, which has driven them away from pursuing any developments, and they rarely “consider opportunities for young people and developing countries.”

According to Ma, the Basel Accords are a “club for the elderly” that solves issues only for financial systems operating for years. Countries like China, which are still considered a “youth,” require more innovation to “build an ecosystem for the healthy development of the local industry.”

One area where regulators could increase their focus is digital currencies. Should the world’s watchdogs indeed improve their approach, virtual currencies could play an essential role in building a financial system that will be used in the next 30 years, he added.

“Digital currency could create value, and we should think about how to establish a new type of financial system through digital currency.”

Jack Ma. Source: Nikkei
Jack Ma. Source: Nikkei

He’s (Probably) Not Talking About Bitcoin

Although Alibaba’s founder didn’t specify what exactly he had in mind when using the term “digital currency,” his history suggests that it probably wasn’t Bitcoin. A few years ago, Ma warned people to be careful and said that he’s staying away from the primary cryptocurrency as it could “be a bubble.”

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However, he was significantly more favorable towards Bitcoin’s underlying technology – blockchain. The company he founded has been involved in numerous blockchain-related projects in the past few years. Alibaba even launched two DLT subsidiaries in Shanghai last year.

Additionally, a recent report highlighted that Alibaba is the firm with the most blockchain patents.

So, if Ma’s not referring to Bitcoin as the digital currency with value, he’s perhaps talking about the upcoming China CBDC. Alibaba has partnered with other giant Chinese organizations, such as China Merchant Bank, Tencent, and Huawei, to develop the nation’s central bank digital currency.

Besides, the world’s most populated country has also been openly pro-blockchain while reaffirming that Bitcoin and other cryptocurrencies are officially banned within its borders.

Featured Image Courtesy Of CNBC

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Source: https://cryptopotato.com/alibaba-founder-jack-ma-digital-currencies-can-create-value/

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