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How DAO creates a new way of decision making

What is DAO?

Before the advent of the Internet, there was a clear gap between the producers and consumers. Although the producers iterate the product by doing some market research or statistical analysis, it is difficult to achieve a satisfactory outcome because of the information blockage and the lack of technology to process large amounts of data. Until the advent of the Internet, people began to be able to collect and process information on a large scale. Feedback from consumers starts to play a role in product updates. However, the real decision-making power of production is still mainly concentrated in the hands of producers. The innovation of DAO will gradually solve this problem.

DAO (Decentralized Autonomous Organization) is an emerging organizational form based on blockchain technology, consisting of a group of members with common interests and goals. The organizational rules of the DAO are executed by distributed programs, and participants jointly achieve organizational goals. DAO can be regarded as an evolutionary version of the organizational form of the company. The biggest difference from the company is that the DAO is not driven by laws and contracts, nor is it subject to geographical restrictions.

Advantages of DAO

Firstly, DAO is built on the blockchain and executed by smart contracts. The acquisition and use of DAO funds are open, eliminating the financial problems in the traditional organizational model.

Secondly, the governance of DAO belongs to the community, token holders, and participants. Everyone can propose a plan for the organization and have the opportunity to be executed. By working under the DAO, participants can not only get involved, but also become one of the owners of the organization with tokenized rewards, enjoying the long-term benefits brought about by the growth of the organization.

In addition, DAO has created more remote work opportunities, giving us more work options.

Trading DAO

The GoodData platform has the characteristics of intelligent transaction data collection automation, diversification of digital assets, and strict data privacy protection.

In the GoodData blockchain, transaction enthusiasts can more freely and independently choose to organize and collaborate, so as to maximize the efficiency and value transfer of DAO.

The Future of DAO

Compared with the past organizational model, DAO has achieved independence, openness and decentralization to a large extent through the blockchain for asset management and decision execution. The rise of DAO will accelerate the realization of the metaverse and promote the participation of individuals in the construction of the metaverse. GoodData believes that the metaverse does not belong to a certain enterprise, but a parallel digital world that originates from and serves the community. At the same time, GoodData also expects that talented people will join in the construction of the future world.

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