Crypto mania has pushed decentralization into the mainstream, but Bitcoin is only one example of how blockchain can create new structures not controlled by corporations or centralized entities. (Though it’s ubiquitous, plenty of people still don’t even know what blockchain is. If you’re one of them, stop and read an explainer here.)
The latest tech trend is the formation of decentralized autonomous organizations, or DAOs. Artists, charities, and businesses are forming DAOs, but anybody can. Recently the Republic of the Marshall Islands even passed a law giving them the same legal standing as LLCs. There are benefits to starting or joining one, and doing so may be easier than you think.
What is a DAO?
DAOs are organizations not governed by hierarchies, wherein members can vote on their direction and have a direct say in how they’re run. The organizations are accountable to members and shareholders and, in essence, managers and executives are unnecessary. Members do still have jobs that are based on their skills and the organization’s objectives overall. Small, autonomous groups called “guilds” often form within each DAO and tackle specific goals and problems.
Continue reading: https://lifehacker.com/what-is-a-blockchain-dao-and-should-you-join-one-1848636960
The latest tech trend is the formation of decentralized autonomous organizations, or DAOs. Artists, charities, and businesses are forming DAOs, but anybody can. Recently the Republic of the Marshall Islands even passed a law giving them the same legal standing as LLCs. There are benefits to starting or joining one, and doing so may be easier than you think.
What is a DAO?
DAOs are organizations not governed by hierarchies, wherein members can vote on their direction and have a direct say in how they’re run. The organizations are accountable to members and shareholders and, in essence, managers and executives are unnecessary. Members do still have jobs that are based on their skills and the organization’s objectives overall. Small, autonomous groups called “guilds” often form within each DAO and tackle specific goals and problems.
Continue reading: https://lifehacker.com/what-is-a-blockchain-dao-and-should-you-join-one-1848636960
