Vitalik: Visa's original intention was similar to the DAO concept, and it is now considered a centralized institution

PANews reported on August 8th that Vitalik Buterin noted in a post that Visa was originally founded on the principle of decentralization, with its original intentions highly similar to modern DAOs (decentralized autonomous organizations), but that Visa is now viewed by many as a "value-extracting" or "oppressive" institution. Vitalik believes this transformation provides important lessons for the governance and development of Web3 and crypto networks. The discussion also touched on the "Chaordic Organization" concept proposed by Visa founder Dee Hock, emphasizing that Visa was a pioneering example of decentralized governance and ownership, worthy of reflection and learning for the crypto industry.