WTF are DAOs anyway [PART 1]

The Nature of the Firm

As Ronald Coase pointed out in “The Nature of the Firm,” companies emerge because they are better equipped to deal with the transaction costs inherent in production and exchanges than individuals are.

The Changing Nature of the Workforce

The DAO is an ideal structure because it leverages blockchain and smart contract technology to enable people around the globe to freely interact with each other with aligned interests, incentives, and payment structures.

DAO is native to the Information Age

Every DAO functions like its own decentralized economy. It has its own currency, voting rights, economic behavior, marketplace, code of conduct, memes, and most importantly, culture. Governance is just the power to propose and approve economic and political decisions for that economy.

What are DAOs good for?

Centralized System

Decentralized System

Representative System

Strong DAOs,Weak DOs

DAOs are autonomous because the organizational structure shifts according to rules and algorithms written in the smart contract. It is the native organizational structure as human society swarms into the crypto world.




Farm with DeFi Big Brains

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

The BIG Mistake That Too Many People Make With Drip Network

The real identity of Satoshi Nakamoto

Futira Coin: The New Crypto Era …..

Deri Protocol Monthly Report for June

Introducing Deri Protocol Demo Trade

Decentralized Liquidity Strategies

Community update #11 (weeks 14–15)

SEREY: an exciting Social Media platform on the blockchain in Cambodia

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store


Farm with DeFi Big Brains

More from Medium

The SOLUNAVAX Index is Live on Optimism

DeFi Demystified for NFT Degens — Loans

Introducing MakerDAO Risk Dashboard

PieDAO: Delicious web3 exposure