17. David Phelps - JokeDAO and Beyond: The Future of On-Chain Decision-Making

Welcome to EARLY, the podcast about web3 business from Bankless Consulting. DSide's guest today is David Phelps, CEO of JokeDAO, a platform that enables on-chain contests and decision-making. They delve into various topics surrounding blockchain technology and its potential impact on everyday people. David shares his favorite use cases of blockchain, highlighting the importance of investing in blockchain infrastructure and use cases that address the needs and desires of regular individuals in the Web3 world. He mentions projects like ZKTech, Inter-Blockchain Communication Protocol from Cosmos, the Arweave Ecosystem, and the potential of Web3 social media platforms that allow users to own and control their data across different platforms. The discussion moves on to the problems that blockchain can solve for the everyday person, exploring its potential for transparency, security, and decentralized governance. David also shares his thoughts on the development of DAO (Decentralized Autonomous Organization) governance, acknowledging the current challenges while expressing optimism for future improvements. The conversation then shifts to the generations of crypto, with David highlighting the different focuses and priorities of the (self-coined) Bitcoin libertarians of 2014, the DeFi enthusiasts of 2017, and the DAO & community-focused individuals of 2020. He emphasizes the need to continuously learn and adapt in the ever-evolving crypto space. The podcast explores the intersection of AI and blockchain development, discussing the strengths of AI in subjective tasks and its limitations in objective tasks such as pattern matching. David also touches on the topic of tokenization, stating that while not everything needs to be tokenized, a core token such as Ethereum can serve as the foundation for various use cases across society. The conversation concludes with insights into the globalization of crypto and the cultural differences in crypto adoption between Japan and the USA. David shares his thoughts on the future of crypto and his dream project in the Web3 space. Throughout the episode, David shares personal anecdotes, adding a lighthearted touch to the conversation. Overall, this episode provides listeners with a deeper understanding of blockchain technology, its potential applications, and the evolving landscape of the crypto world. ***Timestamps*** 0:00 - David Phelps & JokeDAO Background 2:10 - David's Favorite Use Case 5:19 - David's Angel Investments 13:04 - What problems will Blockchain solve for the everyday person? 20:25 - Thoughts on the development of DAO Governance 22:50 - The generations of crypto  26:00 - The next generation of crypto 29:00 - AI & Blockchain development 30:40 - Does everything need to be tokenized? 35:00 - Will the big brains in crypto go global over Americans? 36:55 - Crypto culture in Japan vs. USA 39:30 - Where is the future of crypto going? 46:20 - Dream project in Web3 49:30 - David's favorite comedians  ***Additional Resources*** David Phelps Twitter (@devine_economy) Joke DAO website Arweave.org Davidphelps.substack.com If you found this show informative, enlightening, fun, or just plain fire - please leave us a review on Apple podcasts to help us grow! Be sure to follow us and our guest on social media to unlock the latest web3 alpha. ***Links*** Bankless Consulting Twitter Bankless Consulting LinkedIn Bankless Consulting Newsletter Early Podcast on YouTube