DAOstak "Decentralized ecosystem facilitating DAOs collaboration"

dontador (43)in #crypto • 6 years ago (edited)

The digital world is in a state of revolution using the blockchain technology. The blockchain technology is being successfully applied to both financial and non-financial world applications.

Now, imagine a scenario whereby you’re employed as a secretary in an organization, you handle files and necessary documents. You came to work one day and discovered that your work is being done by computer protocols that have been programmed through smart contracts. Or perhaps you walked into your favorite retail store and discovered that they are now in collaboration with each alternative retail store with similar price tag for goods being sold. Or as an electoral officer that manually counts votes during elections, you discover that everything is being done by computer protocols. This can only be achieved if organizations run as a DAO.

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WHAT IS DAO/DAOstark?

DAO is the acronym for decentralized autonomous corporation. DAOstark is a framework whereby the creation, management and governance of DAOs will be done. Within the current digital world, there aren’t any tools that permit hundreds, thousands or millions of people to efficiently collaborate towards shared goals and tasks. According to Helen Keller

Alone we can do so little; together we can achieve so much.

This is what DAOstark aims to attain, by facilitating the collaboration of DAOs. DAOstark aims to provide the necessary tools, so collaboration can be broadly achieved. According to Matan Field

The first principle of designing the DAOstark was not to build a specific protocol or a specific application, but rather to build the soil, the ground from which a whole ecosystem can grow and thrive.

This goes to point out that DAOstark is sort of a root attached to the ground that will support/enhance the collaboration and eliminate corruption rooted in DAOs. With DAOstark the contributions of the minority matters. There won’t be a case of the majority robbing the minority.

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DAOstark was created on the ethereum blockchain. The framework of the DAOstark ecosystem is as follows:

Arc: Arc is the base layer which consists of library of smart contracts which can be mixed, matched and modified to configure the governance protocol of any organization on the ethereum blockchain.

Archives: This contains all the shared registries that enhance the flexibility to exchange, use information and collaboration of DAOs designed atop the stack.

Arc.js: This is the javascript interface that permits front end developers to develop applications appropriate to their organizations. This interface has been developed in such a way that a developer without the knowledge of blockchain or solidity can develop DApps for its organization on the stack.

Alchemy: The primary application built on the stack. It is a user interface for budgeting and resource allocation for decentralized organizations which is able to permit anyone create DAOs, ERC20 token as well as invite others to participate in decision-making and talent sharing.

Dapps: They are decentralized applications built atop the stack for the aim of collaboration.
The framework is represented below

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DAOs IMPROVING THE COST, EFFICIENCY AND STRUCTURE OF ORGANIZATIONS

Elimination of hierarchy structure: Several organizations have relied on the use of hierarchy to coordinate massive group of individuals and focus them toward a common goal. The most important drawback regarding the hierarchy structure is that in most cases the folks at the highest care solely regarding themselves antagonizing the folks below. They make decisions in favor of them. However, with the arrival of DAOs they make decisions in line with a protocol specified in code and enforced on the blockchain.
Transparency: DAOs are transparent. They do not require central authority. In this way, the DAOs can run without intermediaries, they operate through smart contracts. Elimination of intermediaries can successively cut back the value of running the organization. In DAOs, the participants receive tokens and vote on which project to fund.

POTENTIAL USE CASES OF DAO

Imagine a case scenario of elections in a country. The elections are being overseen by an independent organization tasked with counting the votes garnered. That the organization is independent doesn’t mean the individuals responsible for the votes are independent on any candidate. The election results can be manipulated to favour the highest bidder, thereby, compromising the actual results of the election. But, this can be prevented if the organization were to be run as DAO.
Another case scenario is that of an organization that comprises of shareholders, board of directors and the CEO. The rules governing the organization are written on paper and can be enforced by any of the members at the highest. But, through DAO the rules are written in a source code which can be implemented by consensus reached by the members of the organization.

HOW DAOstark VOTING POWER PROMOTE INCORRUPTIBILITY

In order to promote incorruptibility within the governace of the DAOstark ecosysystem, the voting power was separated into token and reputation. The token or GEN is transferable between members. The GEN can be used by the subgroups on the system to stake for or against a proposal that would profit the system and if the proposal gets passed by the reputation holders, the more GEN you earn and if otherwise you lose your GEN. For the reputation holders, the reputation is non-transferable. Reputation owners vote for proposals promoted by the GEN holders. Voting of proposals beneficial to the system by the reputation holders, the higher the reputation score and more voting power. With this system in place, the GEN or reputation holders would vote or promote proposals that would be beneficial to the system to avoid losing their GEN or reputation. Thereby, eradicating corruption from the system.
Illustration of the hologram consensus

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ADVANTAGES OF DAO OVER TRADITIONAL ORGANIZATION

Unlike the traditional organization whereby some members wield quite a huge amount of power within the organization. The same cannot be said about DAO where the power is disproportionate.
In traditional organization the majority robs the minority even though the majority contributes next to nothing within the organization. But, in DAO everyone gets rewarded according to the worth of their contribution.
DAO can solve the issue of cluster of people not having a common goal, thereby having a win-win situation for everyone. Like the quote “Two heads are better than one”, only through DAO can the world’s greatest challenges be solved through the power of decentralized collaboration.

BENEFITS OF THE EVOLUTION OF DAO

The ability of DAOstark to evolve from within will have a great impact on the growth of DAOs. With the assistance of the DApps designed atop the stack, organizations can easily incorporate the proposals or customize their DAOs to solve the needs of its varied users. The customizable feature of the DApps will enable DAOs implement any future updates to its organization.

GEN TOKENS

This is DAOstark native token and are transferable. The GEN tokens can be used for proposal promotion and attracting attention of the reputation holders towards the proposals. You cannot buy voting power or vote with GEN. But you can stake for or against a proposal and if passed those who staked will be rewarded with more GEN. But, if the proposal fails, the stakers lose their GEN.
Illustration of the GEN token distribution

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