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Vitalik: The evolution of Visa provides important insights for Web3 governance.
[Chain News] On August 8, Vitalik Buterin pointed out in a post that Visa was initially founded on the principle of Decentralization, and its original intention was highly similar to modern DAOs (Decentralized Autonomous Organizations). However, today Visa is viewed by many as an "extractive" or "oppressive" institution. Vitalik believes that this transformation process provides important lessons for the governance and development of current Web3 and encryption networks. The discussion also referenced the "Chaordic Organization" concept proposed by Visa's founder Dee Hock, emphasizing that Visa was once a pioneering case of decentralized governance and ownership, which is worth reflecting on and learning from for the encryption industry.