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.

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