DAOstack: Making DAO's a reality
Through the ages, kingdoms have risen and armies have conquered and gained new territories.
The greatness of Alexander of Macedonia, King Xerxes, Genghis Khan, and the military might of the world’s super powers all have one thing in common-the ability to have hundreds of thousands of people marching on with a single resolve to achieve a set shared goal.
In this day and age, men have come together to build, however for selfish reasons in many cases. To some extent, this led to the creation of the blockchain and decentralised ecosystems on top of its foundation. The powerful have made decisions that have favoured them.
DAO (Decentralised Autonomous Organisation)stack was created as a solution to the problem of governance that plagues the blockchain.
DAOstack is the foundation on which empires can be created from the ground up. Think of it as a man-made island, and this land is given to corporations to raise structures.
Problems such as individuals making the best decisions for everyone (being corruptible), and also instances when vulnerablities are discovered, there is no way to correct them once deployed and this can be taken advantage of. (see The Dao).
To mitigate this, a system of assigning reputation was put in place. This simply means that a user with a higher reputation score would have more sway. However on his/her own, they cannot make decisions on behalf of everyone. Hence, this mitigates against selfish interests.
DAOstack introduced it’s ecosystem to improve the way DAO’s function. As a result of this, organisations that move to DAOstack are more efficient and are now incorruptible, because voting on proposals are done by many-but as a unit.
COMPONENTS OF DAOSTACK
ARC
Arc is the foundation on which everything is placed. Developers can handle combination of elements to create customized templates for any purpose.
Arc.js
This enables developers to be able to create DApps within the ecosystem without the need to know Solidity, which is the programming language smart contracts are created with. This makes it easier to build with DAOstack.
ArcHives
These are simply where data from DApps built within the ecosystem are stored. They can be called up when needed.
Alchemy
Alchemy fosters the creation of DAO’s and agencies.
DApps
These are interfaces created by organizations, that users will interact with on the ecosystem. They can also be viewed as the end result created, as a result of using the other components of DAOstack listed above.
GEN tokens
These are the monetary unit of the ecosystem. For every basic activity carried out on the ecosystem, GEN tokens will be used. They can be used to promote proposals, rewards users for contributions made or just stake a claim in the ecosystem in general via a number of routes.
USE CASE SCENARIO (APPLICATION)
DAOstack can be used to create solutions for businesses having a focus on curation (newsfeed, news, travel information, etc), collaborative endeavors (open-source developers) and asset management. We will look at an example below.
BetterLife is a large charity organization that strives to improve living conditions in third world countries. To become more inclusive, efficient, and foster engagement, BetterLife decided to ditch the traditional organization approach.
Once they were set up on DAOstack, members in different continents of the world were able to vote in a simple yes/no format on issues such as new initiatives to add to their offerings and what particular project to fund, and at what time.
Based on reputation scores, users were able to vote on proposals, and there was no fear of selfish interests affecting the votes, seeing voting was done as a collective, and such negative actions will be infinitesimal in the grand scheme of things.
The issue of getting large groups to work together is resolved; the organization can make decisions faster, and seeing it can really be expensive to get a group of people to work together, expenses that would have been incurred are no longer a problem.
With DAOstack, changes can be implemented in parts or as a whole when needed, seeing the ecosystem is flexible.
Also, legal needs, fundraising and coordinating efforts internally or externally could take ages in traditional settings. Within a DAO, this could be done in a matter of minutes.
CONCLUSION
In the world as we have it today, it's not actual kingdoms against one another in the actual sense. Corporations against corporations, corporations against the people.
DAOstack fosters massive growth, and just about any company can use it to be more efficient and scale up at lightening speed. It would also ensure that such organizations are more productive both ways-more output, seeing they are more efficient, and huge savings as a result of a drop in massive overheads.
DAO’s are also open and transparent, so this also tackles the issue of corruption within the system.
On the other hand, the process of becoming a part of DAO’s is still too complex for most of the populace. Having an off chain option will help to tackle this, and get more users involved.
Matan Field, CEO $ Architect
Leading expert in decentralized governance. PhD in Physics. DAO architect and blockchain entrepreneur since 2014.
Adam Levi. CTO/Technology
Deep Blockchain technologist. PhD in physics from the Technion. Former IDF radar engineer. Twenty-two years writing code.
Nathalia Scherer, Community $ Biz Dev.
Culture and living systems catalyst. Dalai Lama Fellow and Systems Engineer with a focus on social innovation and complex problem-solving. Artist, complexity geek, and aspiring paraglider pilot.
To learn more about DAOstack, you can visit their website here
To read more about DAOstack, kindly find the WhitePaper here
To join DAOstack on Telegram, click here
To follow DAOstack on Twitter, click here
To follow DAOstack's progress on Reddit, click here
To follow DAOstack's Medium blog, click here
DAOstack's YouTube channel can be found
here
For more information about DAOstack's Token Sale, visit this link
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