What are DAOs? - Future of Organizations that is happening NOW!

by wota

Posted on 2022-01-18

otaku image by wota What are DAOs? - Future of Organizations that is happening NOW!

Hello frens!

Have you guys heard of DAOs?

Wikipedia defines DAO (Decentralized Autonomous Organization) as an organization represented by rules encoded as a transparent computer program, controlled by the organization members, and not influenced by a central government. As the rules are embedded into the code, no managers are needed, thus removing any bureaucracy or hierarchy hurdles.  (Learn more on Wikipedia)

Basically, it is a new form of organization or simply a group of people who could govern themselves based on pre-coded programmatically in Smart Contracts. 
Some characteristics of the DAOs are:

  • No hierarchy: There's often no hierarchical management. Stakeholders and members have chance to make decisions by proposing ideas, voting for executions instead of leaders or managers. (Parallel structure where there's NO leaders or bossy bosses so to speak)
  • Transparent: The code is open source, meaning anyone can look at it. On the blockchain, anyone can scan through the history to see how decisions were made.
  • Open access: Anyone with internet access could hold DAO tokens or buy them to participate it, thus giving them decision-making power in the DAO. (it depends on the DAOs, but some DAOs require certain criteria to be able to join, but most of time holding the tokens and voting will give you power to govern the DAO you are participate in.) No color nor where you are coming from matters! Everyone is welcome to join.
  • Democratic changes: Investors aka contributors can change the rules of a DAO by voting on new proposals.
  • Recruiting: A DAO could even theoretically hire outside talent, since there are still tasks that only humans can do. For example, if new proposal requires certain talent which no contributors hold, then DAO could use their funds to hire experts outside the organization. Basically act as a company or other organization exit today.

More and more people with like minded / hearted get together and create DAOs everyday. Often these DAOs are community driven meaning it is designed to benefit all participants financially as well.

It would not be too far from now that people "work" for DAOs instead of companies or other organizations for money or other reasoning reluctantly.
DAOs enable us to work for or simply spend the most valuable thing in our lives aka time while doing something you truly love doing!
How amazing and exciting is that?!! 
In reality, there still may need some work in order to make it work and achieve such idealistic world since the code is open and automatically executed once the conditions written are met and if there is some bug or "hole" which hackers could exploit.

People learn from any mistakes and a big chunk of individuals involve in the organization could strengthen both code as well as organizational structure for common good.

In that sense, we will no longer need to relay on governments and make impact of our own lives.
Actually it is more exciting and rewarding since your voice will most likely heard instead of ignored.
Of course your want to find your own community to join which you already know most of the time.


I personally love the idea how we people or regular individuals (certainly all are special ;)) could build our own quality of life instead of some elites or those with money control everything and enslave us all using financial tools (that's just my imagination :))
All is thanks to the blockchain technology Satoshi gave us.
Starting with Bitcoin, a simply electric, digital payment mechanism which is sending and receiving digital assets without going through intermediary such as Banks.
Then Ethereum comes in to play the roll of the Smart Contracts which enable us to do many things which we never had a chance to otherwise for even more fair matter since everything is transparent.

It's not about fiat vs crypto or web2 vs web3, but it is all about we have a great chance of owning our own lives and knowing how powerful we are when we get together which has been suppressed by big powers throughout the history so that they keep the control over us.

Now what do you guys think? Is this another idealistic, unrealistic phenomenon? or This could change the world in much better way? or worth?
I would like to know your opinion in the comment below πŸ‘‡πŸΌ

As always, Thank you so much for reading and most of all being a part of this community πŸ™πŸ»

Hope you have a bright day πŸ™ŒπŸ»


#dao  #web3  #blockchain  #tech  #innovation  #code  #bitcoin  #smart contract  #ethereum  
wotakuexchange user avatar mari image | WotakuExchange
mari 1
2022-03-18 I love the idea of collective power and governance in DAOs and don’t think they are too idealistic.
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