NUKE DAO — Emerging and Rising!

The Importance of a DAO

When was the last time you took a vote? Did you feel properly represented? Was your voice heard?

Many of us today live in what we are told are “democratic societies” — systems of leadership that convince us that a vote every few years is sufficient participation in the decisions of a leadership that represents and affects us. While corporations with stakeholders allow for a meeting and a vote to be taken on decisions, the process is inefficient at best in a world where information moves so quickly.

Today’s world demands fast action, quick thinking without compromising security. As the Covid-19 pandemic threw the world we once knew into disarray and pushed so many of us to turn our living rooms into our workspaces. Meetings took place on a screen and not in a boardroom.

So many factors come into play when we think about how we approach administration and the executive layer of an organisation. We’re used to the red tape in many cases, we even think it’s essential to the way they work.

EXECUTIVES HATE IT

When we say automation is coming to take over our lives in the 4th Industrial Revolution by replacing humans with computers and machines, the scenes that come to mind are the robotic arms on a factory production line and the touch screen ordering kiosks at the fast food restaurant.

These changes are already upon us and have been for decades already. Robots and computers live among us now, slowly taking over the mundane mechanical jobs and grunt work to open new horizons for human potential. Some see it as a threat, some see it as an pillar of advancement.

What is not often talked about is the way automation is also coming to take over the jobs at the top of the pyramid — the executive positions.

WHY IT’S IMPORTANT

Decentralised Autonomous Organisations or DAOs are the technology that’s disrupting the traditional corporate ladder in web3 projects and could soon wriggle their way into more conventional businesses and companies. DAOs are able to collect proposals and delegate decision making to token holders on a blockchain.

This means greater transparency and provisioning of voting power to stakeholders where collective decision making becomes the cornerstone of the project leadership. While it won’t necessarily completely eliminate the need for executive positions, it distributes the power that comes with running a project to those who actively use the services provided by the project, investors of the project and sometimes even those who work for the project.

The cascading effect of this is the dismantling of a single point of failure within a project where leaders can sometimes make brash decisions without foresight, perhaps out of FUD or anxiety. Distributing this responsibility between parties who have a proper reason to be involved is one of the best ways to constrain executive actions to within an organisation without having to engage external influence or forces.

In other words, DAOs make technology and leadership democratic again.

WHAT IT MEANS FOR YOU

A DAO uses on-chain voting protocols to determine who has voting rights on a proposal submitted to be voted upon. In some cases, all token holders can be programmed to have a vote with a weightage equal to their holding of governance tokens issued by the project.

Proposals can usually be submitted by any token holder to be put forward for a vote. This can include actions to remove problematic leaders from the project, change reward mechanisms and payouts, alter tokenomics and even to change the name of the project itself.

A sizable number of projects may call themselves a DAO when they really just operate out of Discord or Telegram. These may have the community spirit akin to that of a DAO but an actual DAO uses on-chain governance to make sure that voting is fair and transparent.

There’s a sense of ownership in the prevalence of a DAO in projects of today. The shared responsibility and power is how stakeholders get to feel like they are really a part of the project both as an administrator as well as a beneficiary.

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