Break it DAOwn Now

Ah, DAOs - decentralized autonomous organizations. A lot has been written about them. I am not really discovering anything new in this piece - more so angling the concept to that of which I know which is 1) the creator space and 2) the pitfalls of traditional corporations. The piece is broken out as follows:

What is a DAO?

So what is a DAO? It’s “a group organized around a mission that coordinates through a shared set of rules enforced on a blockchain” as Linda Xie highlights in her piece. At the most basic level, they use collective participation to fund things and get things done.

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The big difference between DAOs and the !Traditional Corporation! is that DAOs have:

  1. Smart contracts: They automate some activities through smart contracts (contracts that execute when certain conditions are met) - which basically reduces any need for humans to be ~making decisions~ (which reduces a lot of inefficiencies and overhead costs)

  2. Decentralized decision making: They are also decentralized - so big suits don’t have all the power. People do, primarily through voting through tokens.

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