Group 1: Global Economic Environment - The global economy is entering a new phase characterized by high volatility and low growth, with significant uncertainties impacting traditional pricing logic [2][4] - Key structural contradictions include population aging, national debt issues, and geopolitical tensions, which are constraining economic growth [2][4] - The rise of artificial intelligence and technological innovations is expected to take decades to fully impact economic vitality, despite their potential to drive growth [2][4] Group 2: Asset Pricing and Investment Strategies - Asset prices are experiencing significant fluctuations, necessitating heightened risk awareness among investors [3][4] - Gold and silver are highlighted as crucial components of the global monetary system, with gold prices having increased approximately sevenfold since 2005 [5][11] - The current geopolitical landscape is reshaping the G2 dynamics between the US and China, influencing capital flows and asset allocation strategies [5][6] Group 3: US Policy Impact - The Trump administration's tariff policies have evolved from targeted measures to a broader global trade conflict, impacting market dynamics and investor sentiment [7][8] - The combination of tax reforms and tariff policies is expected to generate significant government revenue, but the long-term economic implications remain uncertain [9][10] Group 4: Currency and Commodity Trends - The weakening of the US dollar is anticipated, driven by structural issues and a decline in trust among global investors [11][12] - Central banks are increasingly diversifying their reserves by accumulating gold, reflecting a shift in confidence away from the dollar [11][12] - The price of gold is projected to continue rising, with significant increases expected from 2024 onwards, driven by geopolitical tensions and inflation concerns [11][12] Group 5: Technological Revolution and Asset Valuation - The advent of artificial intelligence is expected to fundamentally reshape economic theories and asset valuation models [15][16] - The emergence of Web3 and tokenization technologies is poised to transform financial infrastructures and redefine value creation mechanisms [16][17] - Traditional asset pricing frameworks are under pressure, with significant disparities expected between sectors and asset classes [17] Group 6: Investment Outlook - Chinese assets are seen as undervalued, with potential for systemic revaluation supported by policy changes and economic fundamentals [18][19] - Growth sectors such as technology and innovative pharmaceuticals are highlighted as areas of opportunity, while traditional markets face challenges [19][20] - Gold is recommended as a hedge against inflation and economic uncertainty, with its role as a safe-haven asset becoming increasingly relevant [19][21]

Historical Context - The origin of DAO can be traced back to the birth of Bitcoin, which operates autonomously through a distributed consensus mechanism and code rules, regarded as the "first autonomous organization" [3] - The emergence of the Ethereum platform in 2016 provided the technical foundation for DAO, with The DAO project creating a venture capital platform using smart contracts, although it faced a hack leading to a fork, validating the concept of "code is law" [3] - DAO has expanded from the financial sector to diverse fields such as art, charity, and research, leading to the trend of "everything can be a DAO" [3] - With the explosion of DeFi and NFTs in 2021, DAO is predicted to become a core governance tool in the Web3 ecosystem [3] Core Concepts - Decentralized architecture allows for power distribution, with token holders participating in decision-making through voting, and governance rules executed automatically by smart contracts, eliminating single points of control [4] - Token economic models serve as both value carriers and governance rights, where the amount of tokens held determines voting weight, incentivizing community engagement and creating a "stakeholder binding" mechanism [4] - Transparency and autonomy are ensured as all proposals, votes, and fund flows are recorded on-chain, providing traceability, while smart contracts reduce trust costs and corruption risks [4] - Programmable governance allows for rules to be iteratively upgraded through code, adapting to dynamic market environments, exemplified by protocol DAOs like Uniswap adjusting parameters via community voting [4] Differences from Traditional Organizations - Power structure in traditional organizations relies on centralized authority, whereas DAO employs token democracy for distributed governance [7] - Trust mechanisms in traditional organizations are based on legal contracts and interpersonal relationships, while DAO establishes "technical trust" through immutable smart contracts [7] - Collaboration in traditional organizations is limited by geography and hierarchy, while DAO enables global collaboration [7] - Flexibility in traditional organizations requires lengthy processes for change, whereas DAO can quickly respond to market changes through on-chain voting [7] Industry Practices - The Messiah Exchange utilizes a DAO governance structure where users vote on core strategies like trading pair listings and fee distributions, ensuring decision transparency and efficient execution through a "on-chain proposal + smart execution" mechanism [8] - The Akashi public chain provides modular tools to simplify DAO deployment, with cross-chain protocols and RWA (real-world asset tokenization) capabilities enabling DAO expansion into governance of physical assets, such as crowdfunding and distribution for renewable energy projects [8] Future Outlook - Despite challenges in governance efficiency and legal compliance, DAO's technical characteristics are reshaping industry collaboration paradigms [10] - DAO is expected to become the "organizational infrastructure" of the Web3 ecosystem, driving decentralization in finance, social, and cultural sectors [10] - Traditional enterprises may also adopt DAO principles to create "hybrid governance" models, balancing efficiency and democracy [10] - The evolution of DAO reflects the profound impact of blockchain technology on organizational forms, indicating a silent revolution in power distribution and collaboration models within the future business landscape [10]