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What DAOs Can Do: Social Movement or Recreational Facility? Reconsidering 2021
Is 2022 going to be the year of DAOs? 2021 was unquestionably an explosive start.
The explosive and disruptive innovations associated with blockchain appear to stem from a shared ontological hunger: that deeper aspect of the human being that yearns to fill in the void that separates us from other animal species.
Spoiler alert: the void is unfillable.
However, attempting to do something with it – creating, innovating, going against the system, etc. – is what keeps us moving, conscious, and alive. The alternative is to devolve into mindless zombies that do exactly what they are told.
What You Should Know About Decentralised Autonomous Organisations
Thus, Daos. Smart contracts, decentralisation, and collectively devising an alternative to traditional structures: three powerful men at the top and thousands of workers unable to participate in major decisions affecting the environment to which they devote their lives. Essentially, the majority of corporations.
Web3, DeFi, the metaverse, NFTs, and DAOs all flourished in 2021. It has all begun to gain mainstream acceptance. It's growing in size and popularity, and it's becoming ubiquitous. However, there is so much happening so quickly that the larger picture of these innovations is not yet defined.
Nonetheless, it's critical to approach the urge that underpins everything that's exploding around us, as it's almost certain to become ingrained in everyone's life.
Therefore, what are DAOs? Correct, but that didn't tell you much.
"They represent a sea change in the way humans coordinate," Spencer Graham, DaoHaus' project lead, explained. He believes that many future businesses and organisations will be structured as DAOs.
Additionally, he noted that the word "decentralised" is probably the most critical one in there. Nowadays, the majority of these groups are focused on distributing an organisation's power among its members in order to make decisions and changes: there is no one man in charge.
They enable the achievement of collective goals without requiring complete trust in all team members – because they simply cannot corrupt the process, and trust is based on the algorithm as the sole intermediary – or an external legal framework to keep things on track.
The governance of DAOs is designed to ensure that each vote is taken into account. Nothing will be carried out if a quorum is not present. You are not required to be suspicious of ballot tampering. Consider how straightforward presidential elections would be.
Review of the Year 2021
A word of caution: I'm not about to compile a list of trendy blockchain startups. Let us discuss what is occurring.
DAOs are becoming more difficult to define. To begin, they serve as a means of coordination. However, when we delve into the details, we discover that there are numerous types of DAOs.
Variations are largely determined by the purpose for which the organisation is being used: what is the organisation being used for?
DAOs have the potential to displace large entities and give small businesses a chance to compete against venture capitalism. They could also be an investment club, with members pooling their funds to achieve a common financial goal.
Primarily, I believe that the majority of people in crypto are either attempting to earn money, create something of value, or both. All of the options are acceptable.
Individual members of a DAO are unlikely to be able to accomplish their objectives on their own. As a result, people require people.
Indeed, people require other people.
We've all become a little too cynical at this point to believe it, but it's true.
When you truly observe how the most critical aspects of crypto operate – those that have the potential to have a direct impact on society – it becomes an unavoidable reality that we require one another to accomplish the greater goals.
In 2021, a DAO attempted – and nearly succeeded – in acquiring one of the most valuable copies of the constitution. Their efforts became so valuable and popular that additional DAOs were formed to purchase items such as Jodorowsky's Dune Manuscript and even an NBA team.
While this may sound geeky, it's also heartwarming to see how people are discovering ways to gain access to things they could never have imagined – and stick it to the establishment.
It's also worth noting that 2021 was a year of despair. People are fed up with oppressive and toxic work environments.
What Is the Issue?
While the organisations' passion for resolving large systemic, institutional issues sounds admirable and encouraging, passion always has a dark side. There are concerns about smart contracts and decentralised autonomous organisations (DAOs): could they be a scam? Is it possible that reliance on smart contracts will become a hindrance to business decision-making?
In some cases, information has been withheld from the community and public, defeating the purpose of decentralisation and calling into question the legitimacy of certain organisations. Additionally, in 2021, we saw that some DAOs can be wolves dressed as sheep.
Support us!
View all episodes
By Crypto PiratesIs 2022 going to be the year of DAOs? 2021 was unquestionably an explosive start.
The explosive and disruptive innovations associated with blockchain appear to stem from a shared ontological hunger: that deeper aspect of the human being that yearns to fill in the void that separates us from other animal species.
Spoiler alert: the void is unfillable.
However, attempting to do something with it – creating, innovating, going against the system, etc. – is what keeps us moving, conscious, and alive. The alternative is to devolve into mindless zombies that do exactly what they are told.
What You Should Know About Decentralised Autonomous Organisations
Thus, Daos. Smart contracts, decentralisation, and collectively devising an alternative to traditional structures: three powerful men at the top and thousands of workers unable to participate in major decisions affecting the environment to which they devote their lives. Essentially, the majority of corporations.
Web3, DeFi, the metaverse, NFTs, and DAOs all flourished in 2021. It has all begun to gain mainstream acceptance. It's growing in size and popularity, and it's becoming ubiquitous. However, there is so much happening so quickly that the larger picture of these innovations is not yet defined.
Nonetheless, it's critical to approach the urge that underpins everything that's exploding around us, as it's almost certain to become ingrained in everyone's life.
Therefore, what are DAOs? Correct, but that didn't tell you much.
"They represent a sea change in the way humans coordinate," Spencer Graham, DaoHaus' project lead, explained. He believes that many future businesses and organisations will be structured as DAOs.
Additionally, he noted that the word "decentralised" is probably the most critical one in there. Nowadays, the majority of these groups are focused on distributing an organisation's power among its members in order to make decisions and changes: there is no one man in charge.
They enable the achievement of collective goals without requiring complete trust in all team members – because they simply cannot corrupt the process, and trust is based on the algorithm as the sole intermediary – or an external legal framework to keep things on track.
The governance of DAOs is designed to ensure that each vote is taken into account. Nothing will be carried out if a quorum is not present. You are not required to be suspicious of ballot tampering. Consider how straightforward presidential elections would be.
Review of the Year 2021
A word of caution: I'm not about to compile a list of trendy blockchain startups. Let us discuss what is occurring.
DAOs are becoming more difficult to define. To begin, they serve as a means of coordination. However, when we delve into the details, we discover that there are numerous types of DAOs.
Variations are largely determined by the purpose for which the organisation is being used: what is the organisation being used for?
DAOs have the potential to displace large entities and give small businesses a chance to compete against venture capitalism. They could also be an investment club, with members pooling their funds to achieve a common financial goal.
Primarily, I believe that the majority of people in crypto are either attempting to earn money, create something of value, or both. All of the options are acceptable.
Individual members of a DAO are unlikely to be able to accomplish their objectives on their own. As a result, people require people.
Indeed, people require other people.
We've all become a little too cynical at this point to believe it, but it's true.
When you truly observe how the most critical aspects of crypto operate – those that have the potential to have a direct impact on society – it becomes an unavoidable reality that we require one another to accomplish the greater goals.
In 2021, a DAO attempted – and nearly succeeded – in acquiring one of the most valuable copies of the constitution. Their efforts became so valuable and popular that additional DAOs were formed to purchase items such as Jodorowsky's Dune Manuscript and even an NBA team.
While this may sound geeky, it's also heartwarming to see how people are discovering ways to gain access to things they could never have imagined – and stick it to the establishment.
It's also worth noting that 2021 was a year of despair. People are fed up with oppressive and toxic work environments.
What Is the Issue?
While the organisations' passion for resolving large systemic, institutional issues sounds admirable and encouraging, passion always has a dark side. There are concerns about smart contracts and decentralised autonomous organisations (DAOs): could they be a scam? Is it possible that reliance on smart contracts will become a hindrance to business decision-making?
In some cases, information has been withheld from the community and public, defeating the purpose of decentralisation and calling into question the legitimacy of certain organisations. Additionally, in 2021, we saw that some DAOs can be wolves dressed as sheep.
Support us!