The Age of DAOs

Luuk Weber
Feb 11, 2019 · 3 min read

After attending AraCon 2019 it’s clear to say that the age of DAOs has arrived!

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On January 29th and 30th CBN Nodes Luuk Weber & Ruben Russel visited #AraCon 2019 hosted by Aragon in Berlin. Over 400 guests attended the first edition of AraCon aimed at building Organizations and Governance of the future. Various thought leaders in Decentralization, DAOs, Blockchain, Governance, Basic Income, and Identity came together to share the latest updates related to the industry and strengthen our ties. The atmosphere was very positive with a true feeling of unity and shared goals. This unity was also shared on stage where various people involved in other DAO projects (Colony & DAOstack) where invited to speak. A lot of speakers shared the vision of “We just want one of us to succeed” which truly shows the mindset of the attendees.

At the end of the conference Christoph Jentzsch, the creator of “The DAO” the infamous first DAO created on the Ethereum main net, which got hacked and caused the ETH blockchain to hard fork, gave his first open-speech ever about how it all happened. A truly inspiring talk as he describes how everything blew up much bigger than expected and nobody knew what was going on.

The DAO was doomed to fail as we were, by far, not ready at this point in time for a concept such as The DAO.” — Christoph Jentzsch

Just 2 years ago there was hate and mostly fear towards the idea of a DAO. During the ICO-hype of 2017 very few projects dared to become a DAO and went for the safer bet, doing it the old way in a centralized way. If this was the right choice is still to tell, but what is sure is that the DAO ecosystem is now stronger than ever before. Things are different now, as AraCon shows by bringing together hundreds of people who are driven to create DAOs and familiar with all the concepts involved.

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Ethereum Narratives over time. Source: https://tokeneconomy.co/visions-of-ether-590858bf848e

DAOs are back, and this time to stay. Research by Tokeneconomy.co shows that “since the beginning of 2018 DAOs have become increasingly important in the Ethereum Narrative”. It’s truly mesmerizing if you realize that less than 3 years ago the first attempt to truly decentralize blockchain governance turned into one of the biggest failed experiments of the last decades. The comeback of DAOs highlights the resiliency of decentralization applied in organizations. With each failure, DAOs just adapt and grow stronger. The DAO also show what happens when people are not afraid to “lose” things because what they truly value is inside of them. More specifically, the will to make the world a better and fairer place by creating truly decentralized organizations.

The Tech and Understanding of DAOs are reaching a point where it’s actually possible to test DAOs in the real world. 2019 is promising the be a very exciting year for DAOs with many breakthroughs, important releases, and real-world tests. It’s truly amazing to be part of this amazing ecosystem of paradigm shifters. The vision is here, now let’s make it happen!

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