“Frankly, I think most DAOs are designed to allow the founders to maintain control,” said the founder of food justice charity Big Green DAO."

Consensus 2022 in Austin, Texas, Musk, who last year launched the Big Green DAO, a Web 3 charity focused on food justice, said his research had revealed that most DAOs are not in fact designed to prevent an accumulation of power by a few members – something he has strived to avoid.