BlankDAO; An ELI5 Summary

Paslar
BlankDAO
Published in
3 min readApr 14, 2019

We are inviting you and all the people in the world to move into a new-found-land in cyberspace called BlankDAO. In BlankDAO everything is better than all other lands you know. For instance:

  • All natural resources like gold, oil, etc. belong to everyone and are distributed among them equally
  • Everyone makes decisions in our land. Everyone is the boss. (They can even vote on the name of our land. It is currently left ‘blank’)
  • No one pays any extra costs for enjoying the products and services in BlankDAO. (In other lands, all service and product providers like Amazon and Uber ask for extra fees for themselves)

Check out our gold mine. Every time we get some gold out, we divide it into pieces and distribute it among all citizens. They will then decide what they want to do with their shares.

We have shopping centers so that people could buy what they need like milk, ice cream, and other stuff without having to get out.

Turns out the shopkeepers are not happy for getting gold in return for the stuff they are selling. They say gold might get cheaper in a day or two. You never know. They don’t want to take any risks.

So people usually go to BlankDAO’s bank aka BlankBank and lock some of their gold in there. In return, The bank will issue some money and give it to them as loans.

Shopkeepers will accept that money because it never loses its value and they don’t have to risk anything when they sell their products.

The more people move into BlankDAO the more money is needed for their daily expenditures. The more money needed results in the more demand for gold to be locked in the banks.

But, as you already know, gold has a limited supply. It is going to finish someday. So when lots of people demand it, it gets more expensive by the day.

And that’s why I recommend all people to get in on BlankDAO and buy some gold there.

That way, they not only enjoy the products that they supervise and make decisions about themselves, but they also stop paying big corporations and companies for all sorts of fees and extra costs.

Their gold will get more expensive as BlankDAO gets more crowded. So they’re going to be able to ask for more money from the bank in return for their gold.

Now, to become a citizen in BlankDAO, all you need to do is install BrightID, get your unique social security number, and sign into BlankDAO with your BrightID. I’m going to tell you more about BrightID and how cool it is in good time!

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