The future of the organization is distributed , the DAO happened .Imagine an organization where supervisors don’t exist as a definition and voices of all members are heard despite their position in the company. There is no such thing as furthermore, representatives also yet the company acquires its portion of the overall industry and procures the profit. Sounds impossible? Not as a matter of fact. The seeds of a new organization construction have been now planted.
All in all, what is a DAO? A DAO represents Decentralized Autonomous Organization. It’s an organization that is based on a blockchain technology and is operated through smart contracts. A DAO can issue tokens to provide group governance of the organization, pay contractors and token holders. As referenced in the definition, there are no authorities in a DAO. Decisions are made through voting system by all members of an organization.
A DAO can bring many benefits and work on a traditional organizational design.
Motivation. The main purpose of any company is to make the profit . Employees are for the mostly motivated by their salaries and However, the performance lowers dramatically if their salaries stay the same for a long time. Employees do the minimum just not to be fired. On a contrary, a DAO enables coordinated effort between various individuals which are profoundly interested in the success of the organization. This becomes true by giving tokens (you may substitute “shares” for “tokens”); those aren’t limited to a group of rich traders yet can be bought by any supporter. Bringing the obstruction down to section and empowering to secure few tokens, assists the organization with becoming decentralized. Additionally, token holders are involved in processes of a company and have incentives to contribute.
Decision-making liberalization. The process of decision-making in huge companies is completed by board members and corporate leaders. This limits the number of decisions taken and its frequency. A junior employee may have an exceptional idea thought however it can’t be carried out because of bureaucratic barrier within an organization. As a matter of fact, a employee can carry the plan to his boss, All steps of communicating will distort the original idea and the board members may only get 1 percent of the original information. That won’t be enough to accept the idea. In a DAO, decisions are made collectively. There are several options how to build the process. The main is a voting system, which allows any member to bring the idea and all members without exception to vote for or against it. A DAO gains value through implementing new ideas and makes that process a lot more easier. Risks of a poor decision-making and deals with related parties are minimized.
Efficient collaboration. A DAO doesn’t hire employees, it hires contractors. These participants may play new roles, even small and temporary. Blockchain technology allows making payments effectively and at a high speed. Anyone who has enough expertise can add to a DAO and get payment for good work. The quality of work is evaluated by the whole DAO community.
Clear processes. Existing organizational structure needs more flexibility. For example, a company requires planning broadened contracts for legal work and release payments by means of slow wire transfers . Decisions are made through lots of paperwork and protocols. A DAO can simplyfy on the processes and make them automatic. legal work is recorded by smart contracts, payments are made consequently as per the outcome, and decisions are made quicker and by the whole group.
Companies gain the competitive edge through innovations and fast decision-making. Modern rules of running a business are to carry out new features to be on the top of the business. That is getting more enthusiastically with traditional progressive organizational structure. A DAO enables to make that process simpler and quicker. In result, DAOs will grow up in size and gain their market share. That’s why more and more DAOs are being started nowadays. That’s the reason more and more DAOs are being started these days. One of the first DAOs is RocketICO. It is a decentralized accelerator in light of the DAO basics. The platform helps new DAOs to be made, raise reserves and provide powerful marketing tools for entrepreneurs. Moreover, it assists the traders with isolating the quality goods from the refuse. Will it bring about the formation of various DAOs? Maybe indeed, maybe no. Yet, the inclination shows that individuals are excited about blockchain and DAOs. Nothing can stop them from creating new applications and companies in view of blockchain and DAO fundamentals.
Blockchain and DAO provide a way to operate organizations. It’s more secure and quicker than existing options. The future of the decentralized organization is close and you can feel it, isn’t that right?
RocketICO — world’s first decentralized accelerator based on the standards of DAO. This ecosystem system provides the opportunity for the teams with their ideas, experts and investors efficiently securely connect through smart contracts ethereum to creat projects and carry them to the ICO with raising funds in cryptocurrency. The platform depends based on Solidity DAO system and is a decentralized web application (dApp).
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