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The collective intelligence in DAO

It is found that the decision result of a group is always better than that of each individual in the team, which is often seen as collective intelligence. In collective intelligence, the group is significantly better than the sum of single individuals and simple individuals, that is, 1 + 1 > 2. It enlightens people that when making important decisions, they can learn from the speculation, voting and opinions of groups, rather than just seeking advice from an expert. Since ancient times, collective intelligence has always played an important role in the world in various forms. Nowadays, people combine collective intelligence with blockchain, resulting in a new form of organization — DAO.

DAO brings people together through distributed blockchain and the incentive mechanism of token economy, generates collective intelligence, and encourages groups to express their views and make decisions.

Lior rokach’s book entitled “Pattern Classification Using Ensemble Methods” published in 2010 summarizes some characteristics of group based decision-making systems:

Diversity of opinions: everyone should have a personal idea, even if it seems strange.

Independence: everyone’s opinion should not be influenced by others.

Decentralization: everyone can have personalized research based on their own knowledge to some to conclusions.

Integration: there are some mechanisms that can transform individual judgment into group decision-making.

These features are perfectly reflected in DAO:

Firstly, the blockchain-based DAO can realize global anonymous interconnection, avoid the influence of key opinion leaders or powerful people in the voting process, and everyone has the right to vote, which ensures the diversity and independence of opinions of groups.

Secondly, the natural decentralization of blockchain allows DAO members to come from any place and any profession, ensuring the diversity of the whole organization.

Finally, the management and operation rules of DAO are encoded on the blockchain in the form of smart contract, which can realize the self operation of group decision-making and ensure the fairness and openness of the operation.

Michael J. Mauboussin said in Think Twice that in order to make group prediction perform well, in addition to meeting diversity and integration, incentive mechanisms need to be introduced. Incentives encourage people to participate only when they think they have the ability to predict, which helps to reduce individual errors. DAO’s intelligent management and token economy form an effective incentive mechanism. The distribution of governance rights and contributor rewards can effectively encourage members to contribute to group decision-making, and then improve organizational efficiency.

With the development of blockchain, the cooperation mode between people is changing drastically. Collective intelligence will be an important means of team cooperation in the future, and DAO is the most effective platform to give full play to it.

Currently, GoodData blockchain is also deploying its own DAO platform. What kind of collective intelligence will GoodData offer? Let’s look forward to it!

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