Vitalik Buterin Says Visa Started Like a DAO, Now Seen as Centralized

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Ethereum co-founder Vitalik Buterin recently noted that Visa began with ideals similar to a decentralized autonomous organization (DAO), aiming for shared ownership and collaborative governance. However, he explained that Visa has evolved into a company widely viewed as highly centralized and profit-driven. Buterin’s comments highlight how even organizations founded on decentralized, community-driven principles can become centralized over time—a key issue that the crypto and blockchain community continues to address through new governance models and smart contract technology.