This is a thought-provoking article worth reading: What is the real moat in the AI era? Gupta pointed out that the real moat of the AI era is the "new organizational form". As products and technologies become increasingly susceptible to rapid plagiarism and iteration, the form a company takes will determine what kind of talent can survive, continue to make a difference, and ultimately become themselves. In plain language, A company is no longer just a place for hiring people to work, but also an organizational form that allows specific talents to truly showcase their skills and continuously create value. What people want is not just money, but a deep 'feeling': • Feeling special: I am not replaceable, only I can do this. • Feeling destined: We are doing something that truly changes history, and I am on the scene. Don't want to miss: The most important thing is happening here. There is something to prove: I want to prove that I am not just the things on my resume. • Getting closer to power: I want to be closer to the decision-making center. Sacrificing for something greater than salary: I am willing to pay for a genuine and costly belief. The most impressive company will only select one or two core feelings and then make the organizational structure truly capable of fulfilling these feelings. Therefore, establishing an organization that can truly accommodate and amplify a specific talent has become more difficult and valuable in the era of AI. The top companies of the future may not necessarily be the coolest ones in terms of products, but may have shaped the company into a form that did not exist before: an organizational form that allows specific talents to truly become themselves and continue to shine. So what does this mean for the field of encryption? If we accept the conclusion that 'shaping new organizational forms is the true moat of the AI era', Well then, The strategic significance of encryption and DAO is crucial because their underlying logic is essentially a radical experiment in organizational form. Traditional companies are mostly hierarchical (boss → middle management → employees), with centralized power, mainly relying on contracts and salary binding. DAO attempts to use token incentives, on chain governance, automated execution of smart contracts, and global distributed collaboration to achieve decentralized decision-making. We did see a significant collapse of DAO governance in the previous cycle: Many projects are essentially 'companies disguised as DAOs', maintaining centralized control even after VC funding, without truly designing incentive and power structures that match commitments, resulting in governance chaos, misaligned contributor incentives, inefficient decision-making, and difficulty in retaining talent. But in the era of AI, if the compactness of company execution can be combined with the open collaboration of DAO, removing the bureaucracy of the former and the excessive laxity of the latter, it is possible to create a new organizational form that is truly suitable for the AI era. This form can enable people who do not want to work 996, do not want to be controlled by a single boss, want community governance, and want to directly convert their contributions into economic rights to live comfortably and play a role. This is also highly consistent with the trend of AI Agents+Crypto: Token as Organizational Adhesive: Motivate AI agents to collaborate, participate in governance, and capture value through tokens. DAO as a container for AI organizations: In the future, there may be the emergence of "AI native DAOs" or deep integration forms. AI agents can manage agent clusters, assist in decision-making, and distribute benefits through on chain mechanisms, while retaining ultimate control over human critical value judgments. This is exactly what Gupta said, 'Form determines who can exist': Only in this decentralized+token incentive structure can certain "agent+human" hybrid contributors truly shine. Inspiration for Crypto Players: • Founder/Project Owner: Merely focusing on models, products, and narratives is no longer sufficient. Ask yourself: What kind of person (or agent) can truly become "themselves" only here with the "form" of my DAO/protocol? Governance mechanisms, economic mechanism design, contributor pathways, and allocation of decision-making power - these are the true moats. • Participants/Investors: Reading white papers and token economy is far from enough, it is more important to consider the actual organizational structure: Is the distribution of power truly reasonable and decentralized? Is the incentive aligned in the long term? Is the founder saying one thing and doing another? Is the project genuinely shaping a compound interest system, rather than being driven by short-term narrative? Summary: Encryption will usher in a structural opportunity for organizational restructuring in the AI era: An opportunity to deeply integrate with AI and truly leverage the advantages of the 'new organizational form'. This wave is still in the early experimental stage, but once organizational innovation truly lands, encryption is likely to usher in a new round of form driven growth. Never underestimate the ongoing exploration value in the field of encryption at any time.