The idea of “decentralized direct democracy” governing model has been gaining traction in the past few years thanks to the rise of the blockchain technology. The blockchain has been touted as a solution to the broken decision-making process within centralized organizations and a fix to such issues as corruption, data tampering, lack of transparency, and coercion.
One company has already achieved tangible results in this sphere.
DAOstack has recently deployed an alpha of their Ethereum-based platform that allows anyone to create a decentralized autonomous organization (DAO). DAO is a business or organization without a CEO or hierarchy which is self-organized and operated by smart contracts on the blockchain. Company decisions are made electronically, strictly through written code (rules) or by vote of its members.
The team at DAOstack believes that DAOs can be key to a successful model that the blockchain ecosystem can benefit from and thrive on.
“By providing an open, universal framework, comprised of smart contracts, collective value management, and DApps, we believe interests will be aligned and the result will produce a new web of open collaboration and interoperability among web companies,” says a representative of the company.
DAOstack is envisaged to be a sandbox for ongoing experimentation in which pieces of governance infrastructure can be easily mixed and matched for each organization, much like WordPress composer – that’s why it’s sometimes called a WordPress for DAOs. DAOstack will also make it easy for developers to build custom front-end applications based on the stack’s back end.
DAOstack is designed to foster growth of not just individual organizations but an entire collaborative ecosystem of DAOs – collaborating and sharing talent, ideas, and learnings.
In developing a DAO, rules for decision-making are agreed upon by investing parties, in alignment with the goals of the organization. Once agreed upon, these rules are coded into smart contracts and, in future, enforced autonomously by the system.
In the words of Matan Field, a co-founder of DAOstack, “Blockchain 1.0 was the ledger; Blockchain 2.0 is the network. So, what if we moved to Blockchain 3.0—decentralized governance. No company. No management. Self-organization.”
Roadmap and ICO
In Q3 2018, DAOstack, currently in alpha, will launch a public beta of their platform, called Alchemy.
The team is getting ready for their Public token sale on May 1, 2018. GEN, an ERC-20 token, is the native token of the DAOstack platform.
In Q4 2018, the team plans to launch a public pilot, their first DAO called Genesis.
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