DAO 101 — A New Paradigm for Organizing Businesses and Other Ventures
Sam McQuade
The last two to three decades have seen a paradigm shift in the lives of almost everyone. The Internet and the web particularly have given a whole new meaning to the way we communicate and interact with each other. Web1.0 was all about connecting people and devices. Web2.0 was all about connecting people with each other. Recent years have seen the development of Web3.0 which is an entirely different ball game.
Web3.0 is all about connecting people with machines and devices to create a more efficient and trustworthy internet. This new web is built on the back of blockchain technology which allows for decentralization, transparency, and security. One of the most exciting applications of this technology is the DAO or decentralized autonomous organization. With everything Web3.0, some concepts are harder to understand than others for now. With increased adoption, they will enter the mainstream sooner.
A lot of our clients at Panterra Finance ask us about DAOs, what they are, and how they work. So we thought it would be helpful to write a blog post explaining them.
The Foundation of Web3.0
Before getting into DAO, a brief few things about blockchain. A blockchain is a decentralized and distributed…
