Decentralized Autonomous Organization (DAO)

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Decentralized Autonomous Organization (DAOs) are large scale organizations that have no central authority or government. Rather, the body is controlled democratically by its shareholders through smart contracts and decisions are recorded on the blockchain. The most well-known of DAO’s is the DAO that formed on the Ethereum blockchain, and which was subsequently hacked, resulting in a loss of $50 million. 

A term that grew in popularity with the advent of blockchain networks, decentralized organizations do not have the typical structure of a corporate organization i.e. something that is pyramidal. In the DAO’s case, governance is chiefly conducted with the help of smart contracts. Besides bringing the benefits associated with decentralization - transparency, immutability, security etc. - DAOs are also cost effective and, through token economics, good at incentivizing users to participate. 

Several DAOs have already been formed, including projects themselves, such as Aragon, BitShares, Dash and Digix. The governance mechanisms on such platforms allow users to propose changes and vote on such changes. 

Given that that there is no one power controlling the network, and that decentralized networks belong to no nation state, there has been some discussion on the legal status of DAOs. It continues to stir debate.  


Cryptanalysis of the DAO exploit & Multi-Stage Attack

27 Jun 2023 27 minute read 0 comments CryptoDeep

CRYPTO DEEP TECH     In this article, we will look at a bug in the DAO code. The hacker exploited a bug in the code of the DAO and stole more or less $50 million worth of ether. I will focus here only on the main technical issue of the exploit: T...

Eagle time on the prime!

25 Jun 2023 1 minute read 0 comments Vladan Lausevic

Are you familiar with the Aragon community, Eagle DAO, and its currency, ANT? If not, start following their newsletter. At the moment, Aragon is a "mother of DAOs."  The Eagle is a weekly publication that provides updates and information about the Ar...

Is Web3 Really the Future of the Internet?

23 Jun 2023 6 minute read 7 comments Allen Taylor

After studying Web3 for several years and having written two books on the subject, I've come to the conclusion that Web3 is definitely the next phase of the internet. That doesn't mean that everyone will onboard onto Web3 right away. It's likely that...

AI’s Unyielding Creative Disruption of DAOs

23 Jun 2023 2 minute read 0 comments Paige3D

By Paige Donner *written with no ChatGPT assist; images by Paige & DALL-E2 TL;DR DAOs are nothing if not Works-in-Progress. So as we witness AI’s creative disruption of society at large, DAOs can claim no exception to this blanket reconfiguration of...

The Impact of DAOs on Decentralization and Organizations

22 Jun 2023 4 minute read 16 comments Smoljanović

The Impact of DAOs on Decentralization and Organizations   Introduction In recent years, the concept of decentralization has gained significant traction in various industries, particularly in technology and finance.  One of the most promising develop...

What Ethscriptions, DAO Work, and Social Tokens Have in Common

21 Jun 2023 3 minute read 0 comments Allen Taylor

Personal note: Recently, I launched the Taylor Token ($TAYL), a personal token for my fans and me. To learn how you can receive some $TAYLs, listen to the Defluenced podcast later in this newsletter or read my MIrror essay on social tokens. If you li...

Striking the Delicate Balance: Centralization, Decentralization, and the Tenuous Dance of Trust and Distrust

19 Jun 2023 4 minute read 0 comments Nexus.io Blockchain

In the grand theater of governance, technology, and human relationships, the eternal waltz between centralization and decentralization takes center stage. This mesmerizing dance captures the delicate equilibrium between concentrated power and individ...

Fintech solution for local needs goes global

17 Jun 2023 4 minute read 0 comments Enrique Yecier

Living in a undevelopment country has many disadvantages (and if that country face sanctions is worst), but if you know where to look, there is many opportunities too. Some of this opportunities require money to invest, other just need the imagi...

Lessons learned for DAOs

3 Jun 2023 1 minute read 0 comments Vladan Lausevic

The recent update via Eagle (Aragon) discusses the evolution of DAOs (organizations run on blockchains) and the advancements made by Aragon in building secure DAO frameworks. The CTO of Aragon shares his vision for multichain DAOs, emphasizing the ne...

Time for DAO Gaming

1 Jun 2023 1 minute read 0 comments Vladan Lausevic

The recent newsletter article via Bankless DAO  discusses the challenges faced by decentralized autonomous organizations (DAOs) in achieving fair and equitable decision-making. It highlights the limitations of the "one-token one-vote" model and the d...