The Power of the DAO

DAOs Have Limitless Potential And This Article Proves It

With the advent of blockchain technologies infiltrating mainstream technological and societal use, one aspect is becoming more and more popularized and that is the DAO. DAO (which stands for Decentralized Autonomous Organization) is a collective that works without barriers or bureaucracy towards the progress of a common goal.

Common uses so far include a community, collective, group, or organization which has banded together to co-govern a web protocol/app, create and manage investment opportunities, perform activism or advocacy within a particular field, or to produce/manage Media or creative content.

What Sets DAOs Apart

You’re probably thinking to yourself: “Well if a DAO is just a group of people doing things together, how is that special compared to what already exists with companies or non-profits?” Well the key ingredient behind a DAO is that of a smart contract. Smart contracts allow DAOs to function as decentralized entities rather than putting the power entirely in the hands of a select few individuals at an organization.

Organizations have been run with models similar to DAOs in the past such as cooperatives, non-hierarchical companies, foundations, but the smart contract innovation of…