Ever feel like your boss doesn’t listen to you? It’s a common gripe at work. A new type of organization is changing that, with a flatter management structure, and a set of rules automatically enforced on a blockchain.
Decentralized Autonomous Organizations (DAOs) allow everyone to take part in discussions, encouraging teamwork. And they’ve created some pretty cool things.
What is a DAO?
A DAO is a business structure where control is spread out, across the team members instead of being centered around one authority figure.
A DAO can be seen as operating like a machine, with the job it is instructed to carry out determined by pre-written smart contracts.
How do DAOs work?
A community can adapt a DAO and program it according to its own goals.
Code is written in the form of smart contracts, which provides some sort of governance mechanism.
Members typically use governance tokens to vote on topics such as fund allocation.
In the case of many DAOs, the impact of a member’s vote can i
