DAOs have come to stay and to revolutionise
DAOs represent a new way for the world to govern itself in a joint and transparent way that could (will) change everything
Let's all play by the same rules, and let's start by clarifying what a DAO is (today’s version at least..)
DAO: Decentralized Autonomous Organisation (Wikipedia vibes)
In a nutshell - virtual places where those who share interests can meet, unite, and organise to accomplish a series of goals.
And here comes the revolutionary part:
Everyone rules the DAO: The governance of the DAO is run by all members of the community, they vote based on their participation, and choose the direction they want the project to take. We say goodbye to the pyramidal executive model.
Organisation model: Imagine organising with people from all over the world, who you don't know, but with whom you share objectives with incentives set by everyone and the same path.
The culture: A community of people passionate about something can come together within a DAO that starts without a clear objective, and develop it together. First, the car, and then we'll see where it takes us.
Total transparency: You only need to know one word, Blockchain, thanks to this, all the transactions, votes, and movements you make inside are recorded.
Some examples of how they are changing the world
Something very powerful to keep in mind for any creative initiative that seeks to do good is that a DAO, thanks to cryptocurrency, can accept donations from anyone around the world and the members can decide how to spend donations. Therefore, the opportunities for achievement are exponentially increased.
And speaking of those who cannot defend themselves, now literally anyone with an internet connection and a smartphone can start such a revolution.
Such is the example of SeaWorld DAO, an initiative that aims to create a community to buy out Florida's SeaWorld to ensure the welfare of animals living in captivity.
Pause on that for a moment.
Now thinking ahead (and if we really do want to save the animals) what if we play with the acronyms and the core objectives of a DAO?
DAO to DIO: Decentralised Impact Organisations
The publication of the latest IPCC report has led to the greater emergence of initiatives to fight climate change. This report warns us that in order to face the climate crisis we need a radical change in the whole economic and production model on which we are based today. No pressure.
But, here comes the magic:
For the first time in history, it is possible to economically align networks of strangers into working together by using programmable incentives and providing them with tools to make decisions and govern shared resources in a decentralized manner. These new organisms are called by many ‘DAOs’, Decentralized Autonomous Organizations."
- Olli Tiainen, Seeking a New Kind of Public Good
DAOs represent a new way for the world to govern itself in a joint and transparent way that could (will) change everything. There are more and more organizations of this type emerging, and some that already existed that are incorporating it into their models and allowing more automation in a large part of their processes.
“DIOs”, as distinguished from ‘regular’ DAOs, are based on a token that derives its value from the quality of a public good, making it possible for crypto to become a critical coordination technology for the climate movement and other social impact endeavours.
Olli Tiainen (😈,😇) @ollitenCrypto will become a critical coordination technology for the climate movement. My essay on using crypto-derivatives to fund decentralized climate action was selected as one of the main awardees in an RFP by @Gitcoin and @otherinternet__🙏 A summary: https://t.co/AYq9de3SrG
You are no longer just a fan
It has been seen in the example of sports clubs that are incorporating fans as part of the decision-making chain, giving them power over the direction the clubs will take by using talent networks around the world to fund promising players in exchange for percentages of their future revenues. This way the fans become owners of a percentage of the clubs themselves.
Imagine being a co-owner of an Artist’s song by just using tokens on an internet-based organisation. In May 2021, Jenny DAO acquired its first NFT, an original song of Steve Aoki and 3LAU. This DAO is an organisation that provides fractional ownership of NFTs, so a lot of users have shared ownership of different creations.
Being able to mobilise huge networks united by the same good objective, that can be coordinated, and that are able to use the skills of each of the members, gives me goosebumps (in a good way).
But not everything is rosy within DAOs
Being in such open collaborative structures, especially when financial interests are involved in which anyone can ‘ape’ in and claim a stake, are like honey for those with bad intentions. Unfortunately, there is a history of hacked DAOs, and although security is increasing every day, they can still be vulnerable.
But we have good news, we can't forget that this type of technology is always evolving and luckily for every person with bad intentions there are usually five with good ones.
So the problems that we have seen DAOs encounter as they grow, are usually overcome thanks to the creativity and integrity of the community itself. Every obstacle is a new opportunity to learn, grow and perfect the system.
DAO stakeholders will need to adapt their systems accordingly, the goal of establishing transparent and self-governing organizations is becoming more of a reality.
What happens in the DAO stays in the DAO
Many times all the social capital that comes from being part of a community, that makes you happy and shares your interest in building something meaningful, is much more important than financial capital.
What we want is to build something that we are really proud of and that has value because of our work.
All this sounds great to me and when I discovered it, I was already thinking about all the cool initiatives I could find exploring the internet, and how I could contribute to something I am passionate about. Or, perhaps I could even experimenting by creating my own DAO and seeing who would join in and if what I considered important was also important for others.
I once heard that proactivity means taking responsibility for making things happen. So for me, this is the key evolution of Web 3.0 - how DAOs are an ‘area map’ for proactive people who are excited to do things but don’t know where to start.
Those who want to know more and explore different routes to reach their goals, now don’t need to do it alone because they will have fellow travellers with the same interests, and they will also be rewarded for their effort and work by taking an active part in the decisions and direction of their journey.
DAOs have become an incredible tool for all those people who want to initiate a change. They allow us to unite, to organise, to create, to give value to what we consider has value. At Pozzle Planet, we firmly believe that any small action that at first glance seems simple, can become a slingshot that changes the world.
DAOs offer a way to combine the best of individual innovation with collective action
- Thomas Piketty
That is why our goal is to bring together thousands of well-intentioned people, equipped with the power of their simple daily actions, who are passionate about changing the world, and give those actions value and turn them into a real wave in the digital world, that becomes a tsunami of change in the real world.
To the stars (and beyond…)
The good thing about this constant evolution is that only we can choose what is the limit.
For us, now the limit is beyond the stars.
So if you would like to join us on this intergalactic journey we would be delighted to have you on board!