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DAOs will help transition to a more sustainable future
We are in the process of moving from the sharing economy to a user-owned economy, overcoming the middle man problem. In the user-owned economy, every link in the value chain can become an owner of a company or a Decentralized Autonomous Organization (DAO).
What is a DAO ?
A DAO is a programmable organization with a shared mission to foster an online community. The members of the community control a multi-signature crypto wallet, ensuring the DAOs objectives as decided by its members.
Governance and operations are written in smart contracts which contain automated if-then statement-making decisions and results auditable and thus making everyone accountable.
Anyone can join a DAO by buying “Dao Stocks” or digital coins and interacting with the community and participating based on their intrinsic or extrinsic motivations for the DAOs success. Theoretically, everyone has an equal say about how things should be done and the future of the company, and decisions are taken collaboratively based on the decision rules written in the digital contracts.
The non-hierarchical structure of DAOs is a game-changer for collaborative asset management. As DAOs use assets that are co-owned by the community, Decentralized Finance (DeFi) plays an essential role…
