DAO: The Future 

DAO, or the decentralized autonomous organization, is the buzzword today. With the evolution and technological advancement, human civilization is making new strides. The advent of the internet has already brought about a few changes in the way, we do business or lead our lives. You can brace for another one today. There is a new transformation peeking at all of us, and DAO it seems is the answer to it all. 

You will come across several DAOs or decentralized autonomous organizations. These are owned by people or conglomerates who effectively own a huge chunk of their cryptocurrencies. Take the example of the $FWB, which comes from a very popular DAO, called Friends with Benefits. People can trade, buy, or sell with it. DAOs are hailed as the leader of change moving forward. 

More On the Decentralized Autonomous Organization

A DAO is mainly represented by various protocols, which can be publicly viewed as a transparent computer program. No single entity or the government can dictate its terms. These can change the way we all work. You should read about some of the changes that are forthcoming. 

  • More Autonomy is the way forward if these make it into mainstream ecosystems. Employees will be big-time gainers here. Today, you must have noticed such a shift taking place in the freelancing industry. The creator economy is abuzz with bloggers, vloggers, and podcasters. A typical creator is earning multiple times than a single employer could pay. Coaching, consulting, and monetization are the various modes of income generation today. Moreover, there is no dearth of platforms, like YouTube and Instagram, to name a few. 
  • Decision-Making Power is another quality that makes DAOs invincible. The creators and contributors will be able to use their native DAO tokens to vote. Snapshot is one such voting system, where members already have such rights. The open-source blockchain on the web is likely to evolve in a far better manner in the days to come. 
  • More profits for the entire group of people working for any organization can be one of the key benefits of DAOs. When the concept of blockchains and cryptocurrencies came to the forefront, it mainly revolved around open and transparent systems and immutable ledgers with participants as validators. This format will also prevent manipulation and allow for actions to be taken in a real-world scenario, unlike traditional business ecosystems. 

Organizations and Entities That Have Adopted the Model 

Most organizations would ultimately adopt the DAO model. The blockchain and cryptocurrency have already started the wave of change. Starting from the finance sector, this wave has already started engulfing other sectors. Here are a few DAOs that have grabbed attention worldwide. 

  • Uniswap is one of the most successful applicants of the DAO concept. The crypto-based entity has made good use of the Liquidity Pool Concepts and Automated Market Maker. Moreover, the native token of the said entity has received a lot of attention lately. The main feature of such a system is the removal of intermediaries. Investors who have invested in the crypto tokens in Uniswap can trade without the intervention of third parties. The best part about Uniswap is that it allows cross-platform transactions as well. 
  • Phoenix DAO is another primary example of an entity clearing riding high on the DAO model. Furthermore, it is an overhaul of the DeFi Hydrogen. The original system had a few faults related to violation of the protocols in a decentralized ecosystem. But coinPHNX has more than made up for that. You will find a few positions like directors and in charge of certain verticals, like partnerships and communications. 
  • Maker DAO is also doing brisk business lately. It is one of the founders, of the DeFi monetary system. One can lend and borrow funds through this unique system, like normal banking transactions. Here Smart contracts occupy centre stage. The amalgamation of cryptocurrency and DAO stable coin has also opened up several possibilities. Investors can even predict the payback amount. 

One of the recent use cases includes Faith Tribe, which is a design platform. You can enter the metaverse and amalgamate it with the physical world. It is the first of its kind in the fashion world. It is going to contribute to Web3 to create a viable ecosystem, to reach the nearly 2 trillion dollars global market, without intermediaries.  

DAO is the future of businesses, and human-based organizations. In the future, it is all set to replace a CEO’s decision-making powers as well, apart from routine operations. Moreover, shareholders will also be able to vote through tokens. The function will take over most repetitive human functions in the times to come. 

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