These are own notes for the study for the CDAA certification. It is a list of main concepts. Each concept is presented in three parts: Introductory text, few examples, and links for further investigation.
Date: 2023-12-19
DAOs - A New Era in Organization Management
DAOs (Decentralized Autonomous Organizations) are organizational structures with participation given by the number of tokens (e.g. shares ?, but this may be controversial given the SEC's recent point of view). Participation is built in a blockchain, supported by smart contracts. The DAOs ditch the traditional top-down hierarchy for a setup where tokens rule. For me, what is more important, is the rules of the DAO. In this respect, it is similar to a traditional company.
When Are DAOs Handy?
Imagine a Kickstarter where everyone who chips in gets a real say in how things roll out - that's DAOs in crowdfunding. Or think of a band where every member, not just the lead singer, decides on the album launch. DAOs can be game-changers in places where collective decision-making and transparency are important. They're all about giving power back to the group, but as usual, it depends on the rules of the DAO. By the rules, I mean the way the smart contract is coded.
Links
Ethereum Foundation's guide: https://ethereum.org/en/dao/
The rise and fall of the DAO: https://stanford-jblp.pubpub.org/pub/rise-of-daos/release/1
