Chris Curl,
Editor
March 4, 2022
Last week I explained how people were able to use cryptocurrency to avoid authoritarian overreach by the government.
Today, I’m highlighting how people are using other decentralized methods to sidestep oppressive centralized authority.
We’re all familiar with Julian Assange – the eccentric founder of WikiLeaks. A man who was always dedicated to delivering truth to the masses using the internet. He believed in the democratization of information and was famous for dumping important data on the web through his WikiLeaks website.
He drew the ire of the US government in 2010 after releasing a number of classified military documents. Conveniently, he was quickly issued an arrest warrant by the government of Sweden over sexual misconduct allegations. Fearing that he would soon be extradited to the United States, Assange breached bail and took refuge in the embassy of Ecuador in London. In 2012, Ecuador granted him asylum under the grounds of political persecution.
In 2016, Wikileaks published damning Democratic Party emails that proved the party’s national committee chose Hillary Clinton over her rival Bernie Sanders in the primaries, among other things.
This did little to ingratiate Assange with the US political establishment, to say the least.
In 2019, Ecuador withdrew Assange’s asylum. The United States government brought further charges against him, including the violation of the Espionage Act of 1917. Many criticized these moves as political persecution and an assault on the First Amendment. In fact, it appeared to be the actions of an authoritarian regime punishing a political dissident more than the actions of a democratic government.
Since 2019, Assange has been held in a maximum-security prison in London, awaiting extradition to the United States.
He has many supporters. And they have recently banded together to form a Decentralized Autonomous Organization (DAO) in his support.
DAOs are financial entities launched on a blockchain that have no central leadership. They are native to the internet and collectively owned and managed by their members. They have no hierarchical management, and anyone can join by purchasing tokens native to each DAO.
The rules of the organization are managed by smart contracts that automatically execute when certain criteria are met. They are fully autonomous and transparent. Everything is open and viewable on the blockchain.
AssangeDAO has already raised over $53 million in support of Julian Assange. This money will be used to cover Assange’s legal fees as well as campaigning for his release from prison in the U.K.
And the use cases for DAOs extend well beyond raising money for politically persecuted people and groups.
BuyTheBroncos is a DAO that was recently launched. It seeks to raise $4 billion in order to purchase the Denver Broncos NFL franchise.
This would be a radical transformation of ownership for professional sports franchises as it would give regular fans the ability to own a piece of their favorite team. And with that ownership would come voting rights for major decisions in the future.
It’s still unclear if the DAO would conflict with NFL bylaws but it represents a fascinating potential use case for Decentralized Autonomous Organizations going forward.
I will be keeping a close eye on it in my Crypto Cycle service, where we’ve just started buying smaller altcoins.
We’ve deployed over $10,000 and are still buying. Don’t miss the next trade.
Keep coming back,
Chris Curl
Editor, Daily Profit Cycle