The BlockChain Revolution
From Bitcoin's invisible conception less than a decade ago, to an explosion of cryptocurrencies in 2017, there has been a lot of speculation about where Blockchain is heading. Ethereum showed the way with the ability to deploy smart contracts for any and all manner of automated contract fulfillment, but the ecosystem is in it's infancy and lacks the ability to perform governance. If there's one thing that leaps out at the natural blockchain thinker, it's the possibilities that concept opens up. I am a firm believer in the potential of Blockchain Technology to transform the world in many ways, both socio-economically and also on a deeper level of consciousness, truth and liberation from decentralised power structures. I speak with a lot of people about Blockchain on a weekly basis and I've met some incredibly intelligent people in the sector, each one with their own dreams of transformation.
Sometimes I think that the real Blockchain advocates; the people involved in the development of new ecosystems, are perhaps the most switched on and smart people on the planet; The Visionaries. For they can see the future, and it's an amazing new world on the horizon. But do most people really understand what the Blockchain Revolution promises? I'm not so sure, (YET). Let's begin with one of the main problems we face in the early 21st Century. For Ten Thousand years, humans have been locked into the same familiar structures and their usefulness is beginning to crumble. We are a collection of tribes, with strict hierarchies enmeshed within them and we have innumerable markets to serve every need from food and clothing to raw materials for construction, manufacturing, energy and of course, entertainment. The old way of getting things done with technology grafted on has been rapidly outpaced and is beginning to outlive it's purpose. We need much more resilient, powerful and collective tools and strategies to tackle the newly emerging problems we have made for ourselves in the age of information (with a population of 7 billion plus and growing).
The effects of climate change, beginning to accelerate as the ice caps melt and the weather becomes more volatile. Food & energy security, global pollution and the widening societal inequalities all need new coping mechanisms, lest we face extinction. Luckily we've been gifted the killer app which the internet has been waiting for and it may have arrived in the nick of time as we begin to head past the point of no return, inexorably piling pressure onto the environment which sustains us. The very thing which allows us to exist at all. Blockchain is indeed revolutionary technology. DAOstack aims to facilitate the revolutionary structures which our future may ultimately depend on.
The Decentralised Autonomous Organisation is a logical conclusion of Blockchain's humble beginnings (or a simple stepping stone) to D.A.P.G.S Decentralised Autonomous Planetary Governance System and for me it's the exciting deep sci-fi concept of a just, humane, incorruptible system which our future needs for us to survive. Let's just imagine for a minute what this world may look like. A Blockchain can initiate a smart contract. Certain criteria must be fulfilled for an automated contract to fulfil. Sounds neat. If you nest and stack a heap of interlocking smart contracts, you have a DAPP. A Decentralised Autonomous Application. Imagine if you took a whole suite of DAPPs and put them together. You now have a DAO and that is an exciting, unlimited concept. Perhaps something we haven't begun to dream up the best uses for yet. Yes, it can automate insurance, investment funds or even online encyclopedias but for me it conjures up a re-interpretation of the the transnational corporation of the future; harnessed for good by collective reasoning and endeavour. Not an out of control beast, endlessly sucking up resources like a Black hole with a singular priority to ensure as much profit is made for it's shareholders.
In the (not too distant) future, I also see the DAO as the model for governments, at all levels, in all departments and globally operating in synchronisation, minus the waste, corruption, errors and plainly biased decision making by lawmakers with very narrowly vested interests. In essence, the sci-fi version of the beautiful future where everything works as it should, to the best of it's capabilities and in harmony with nature. In the short term, immediate future, there are a thousand more mundane but equally valuable projects served by DAO's architecture. Arguably the first DAO's off the ground will be new versions of what we already have. Investment funds run by a collective, ratings and reputation based review systems, co-ordinated by their users. Who knows, perhaps artists and filmmakers will co-ordinate their own global projects. (possibly something I'd be interested in.) Whatever people do with DAOstack in the begining, much will be learned, many will be inspired, new paths will be found. A whole new industry will emerge to service the burgeoning DAO economy much like the internet did before it.
The Machine Economy
If two DAO's interact you have the beginnings of a functioning machine economy and for me, this is where it gets really exciting. There are a lot of promises made but broken by policy makers every day. I find it really quite sad and sometimes makes me feel slightly ashamed to be a human being. Taxpayers the world over watch on TV and read on the internet as leaders declare the end of child poverty, the tackling of climate change, saving of species, introduction of sustainable fishing quotas and a thousand other positive initiatives, which will be lucky to have the desired effect for the layers of committee, bureaucracy and highly centralised, vested interests, which they filter through, launched inside a trickle down economic model which only really serves to boost the coffers of the rich at the expense of the working majority and the poor. (i.e; everybody else).
I see a future where governance is largely and highly automated, transparent, incorruptible, publicly accessible, secure and error free. It's a seemingly huge step to take but one that is inevitable, given the advantages blockchain technology offers and could save humanity from the worst of our excesses = (our extinction) or worse, the irretrievable death of the planet, which has been in balance for the past few billions of years without us.
Humans talk a good game. We are self conscious creatures and we like to sound like we have the right intentions, (in public). As soon as the door is closed and nobody can see, we renege. That's why our media is so full of constant scandal, often involving billions of dollars, environmental crimes and a relatively small but powerful elite. Whole societies are built on petty corruption and it's this endemic attitude to the notion of fairness and truth which skews everything. It's our Achiles Heel.
A Golden Age
The DAO may promise to bring inarguable decision making, end corruption and send needless errors to the dustbin of history but it also promises to liberate us from clerical banality into a Golden Age of Creativity and if there's one thing we need to survive the next 100 years, it's creative solutions in whichever way we can cultivate them. As artificial intelligence becomes more entwined with everyday life (& Blockchain technology) solutions will emerge which we couldn't have dreamed of. I personally dream of a future where the planet is run for maximum efficiency using a cautionary principle by ultra intelligent machine networks. The entire planet will be sensorised, examined and analysed. The data will form hyper efficient power networks, all materials will be recycled, chains of provenance for everything from clean food to tax payments will be 100% correctly maintained. All trading will be automated and systems will be run for mutual benefit, not individual profit. Fish Stocks will recover and we will know exactly how much carbon is being stored by the replanted forests. Plastics will biodegrade naturally.
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Post Industrial Society
People will still be able to get rich. Innovation and cleverness will still be rewarded, but those with great wealth will not retain the feudal style power to which the world's elites have been clinging onto with such avaricious and fervently dishonest tactics for so many years. As I write this, I breathe a sigh for the children of the future who's education will be delivered with clarity, their food consumed without being tainted, the air and water they depend on as pure as it was before the advent of industrial society. In post industrial society, everything will be made to order locally as required using nano scale self assembly and advanced 3D printing techniques, blockchain IP licenses will ensure that everyone shares the benefits of any designed object. Our priorities will be entirely different and our lives spent in glorious endeavour. Universal Credit and Automation Taxes (which will be collected 100% fairly) will allow a beautiful life for all who wish it and a very interesting path of enlightenment and lifelong education for the rest of us. It will all be a result of the humble DAO. Who knows, it may help us reach the stars.
How Will this Be Enabled?
DAOstack. Way ahead of the game in 2018, DAOstack started life as an idea to create a platform for developers to create their own multiple smart contract systems in a neat and accessible framework. It went on to inspire a generation, spawn a revolution and eventually be credited among the 100 organisations who saved the world. Ok so we've taken a bit of a euphoric Sci-Fi line so far but what is DAOstack and how will it help change the world ? It comes with layers so that complex DAO's can emerge from simple rules. Blockchain Revolutionary thinking. 4 main components make up a deceptively complex environment.
Arc is perhaps the smartest component of the DAOstack assembly. Comparable to a content management system for building DAO's elements, with open libraries, it's a modular SOLIDITY framework built on the Ethereum blockchain. It's a bit like WordPress and we all know what WordPress did for web design !
.Hives is the registry component of the project
.js is the bridge. The ability to construct an API for anything without any knowledge of SOLIDITY. (Neat Solution)
Alchemy is the UI - the interface for the user - the Bridge between human creativity and code capabilities
The DAOstack Founders
wanted to build a system which is open to interpretation and easy to assemble so that anyone who wishes to create a DAO, for any purpose could access the tools without being an expert coder and extensive knowledge of smart contract languages like SOLIDITY. The Team is not your average get rich quick ICO bandwagon crew. They are an international team of Blockchain visionaries who together, see the opportunities of the future from a lens of hyperstacked problems we have made for ourselves.
They are also smart enough to realise that they can't solve the world's problems all by themselves but they can provide the toolkit. Exponential problems require expontential problem solving ability. If I was an ICO review board, they'd probably get a 5 star rating, but it's a moot point. Their ICO is complete, May 8th 2018. They raised $30,000,000 / 100% funded.
The GEN Token
The ecosystem uses an Ethereum token which will power transactions across the network. Promoting proposals will require holding or spending GEN but interestingly (and in a similar way to Graphene based Steemit) GEN tokens will be distributed to creators of value through the DAOstack framework. This helps incentivise development, promotion and adoption. It's a no brainer and a very smart move as it allows liquidity to flow through ideas and participation, not just rich pockets. I really like that and it will no doubt encourage interesting thinkers to the platform.
Think you Know where BlockChain is headed ? WATCH this video about what DAOstack aims to do
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this article is not an endorsement of DAOstack. I recommend people to conduct their own research, conduct their own due diligence and not rely solely on the advice of others. Please read the whitepaper Remember investments can go up as well as down and the Blockchain Revolution will change the world.