DAOstack Changing the World Economies
Introduction
From the history one man, it can be deduce that there have always been the bourgeoisies and the proletariats in any given human settings, be it an organization or agency, family, society among others that to a greater extent influence decision making process. The bourgeoisies are those that owns and control the means of production while the proletariat are the workers who have sometimes ideas but cannot make influence in decision. The proletariats receive reward for their labour which have always been in form of token or compensation for the expended effort towards production while the bourgeoisies owns the greater percentage of whatever comes as a return from business.
The relationship that exist between these two does not give room for autonomous working condition as there exist a dependence between establishments, agencies and organizations because of the structural requirements. Those with higher reputation own and control the largest proportion of the means of production and the market share.
For instance, in football, usually there is voting for who will win the best player of the league, decision on who is to be given the award of the best goal of the season, the young player of the season among others. This is achieved through voting but not in a transparent way. Taking last season of English Premier League games for instance, Henrik Mhiktaryan then in Man Utd won the Puskas award, wining the goal of the month against Oliver Giroud then in Arsenal. At the end of the season, Oliver Giroud won the best Puskas award in Europe with the same goal that failed the domestic award. The voting here was influenced greatly by few individuals who have special interests or favourites in award giving and not necessarily by what is best.
There is a great challenge of non transparent decision making process. Since the wealthy ones are in control of the economy they dictate who get what, how and when; command what is where and how is what is where in the economy, there is need for change in the way things runs. This call for a Decentralized Autonomous Organization (DAO) that can help eliminate such corrupt practices as mentioned above and many more that exist within organizations with the help of blockchain technology. This DAO can be employed in different organizations or companies especially the ones that have to do with getting individuals or public opinions.
In decision making, there are several organizational problems like scalability in the governance, resilience, flexibility challenge, disadvantageous holding of shares. These allow individuals with monetary power to influence decision even when the ideas they are presenting are not that of quintessence or not in line with the goal of the organization.
Also, there is problem when it comes to getting fund or approval for important projects as submitted proposals may not be reviewed on time, voting systems used influenced by decision of few individuals who holds a larger contribution of the companys economy and when it comes to claiming shares of the contribution, there is no transparency in the way things are done. These challenges necessitated DAO which will allow organization to make use of the governance of blockchain technology.
There have been efforts from time to time to enhance the working structures, family, states and the global economy. This betterment is aimed at attaining a reliable, open and programmable accounting system which will help better the world economy - a decentralized autonomous organization that will integrates the global economy system.
The DAO is a technology built on crypto-economics, programmed with codes with definite goals. Although yet to gain popularity and acceptability in many industries like the traditional systems. But it is the solution to the economic challenge and unbalanced condition in agencies and companies.
What is DAOstack
DAOstack is aimed at changing the governance of organizations by enabling individuals to apply blockchain governance to various systems traditionally organized by group of individuals. In this pursuance, the intermediaries that creates ineffectiveness in typical organizations are removed.
It is an operating system coordinated by crypto-economics with incentives and self-executing code on which developers can design, launch and enjoy scalability of their decentralized apps. Since it is decentralized, developers can on their own improve the experience on their apps and as well grow a reputation and fan-base through consistency, performance and fair votes. DAO captures the imagination of the best of minds on blockchain giving a decentralize blockchain governance that is scalable and resilient to governance protocols on which crowds can make decisions effectively.
DAO is aimed at creating a transformation on the web as well as on the blockchain technology leading to an open collaboration in which global networks can organize themselves and share goals as well as joint actions. This would see the world through a more cooperative and sustainable future.
What DAOstack would achieve
As organization is growing, there is need for increased efficiency because of external competition and forces of market which involve a huge amount of money. Since organization need a rigid structure thereby posing a challenge on the path of the organization. Because there is need to maintain agility so as to meet up with the changes in the demand of markets and also, they need to preserve interests and trust. Therefore, it is important to strike a balance for the upcoming organization.
The DAO stack gives the new organization a structure through the GEN token on which organization can grow by building a reputation through performance, consistency and fair-votes. This will help limit difficulty especially in structural organizational representation.
Companies can now collaborate to bring about effectiveness in production without losing their identity. Grow into one another with a better and effective experience.
How will they achieve this?
Since it is built on blockchain technology, there is a scalable, self-organizing cooperation on which smart contracts can be carried out. It largely depends on smart company or agency that is minute or tiny which can be managed and operated with smart contracts on blockchain. The companies or agencies are allowed to build their reputation and influence to their taste by including their bylaws in the smart contracts.
More so, through the following tools, DAOstack will achieve this goal
- ARC : This will allow the easy deployment of DAOs that will make DAO application available to companies and organizations. It is the basic operating system for DAOs which come with an open library of templates and modules that can be modified depending on the need of the user.
- Arc.Hives : This allows easy communication and networking between the components of the economy. It is a place where the ecosystem and network can effect build up.
- Arc.js: This will allow efficiency in integration by enabling developers to have easy access to develop application without looking into the contracts
- Alchemy: This is the interface on which users and developers can interact on the DAOstack by allowing creation and management of DAO by anyone or agency on DAO and collaborate with others on the ecosystem.
Decentralized Applications (DApp)
This is where all the above mentioned tools will be utilized. This will provide organizations with scalable decentralized process of decision making leading to shake-up growth.
The GEN Token
DAOstack works on the economy of GEN tokens which will allow users to bid or make a stake in projects to be carried out. The approval of the projects would be controlled by voting through reputation. Meanwhile, people with wealth will have little influence on voting since reputation cannot be bought or sold as it is a reward of active participation in the network.
Conclusion
With the DAOstack verifiable rules that cannot be broken and centerless mesh network of agencies, organizations can be free from failure since there is no control point, agency can now use incentives and codes to bring a functional system of organization in which the systems can function together as a unit or single entity, uninfluenced and without corruption in the system.
For example, the cells of the body have autonomy, functioning different on their own without control from another cell. But all work harmoniously to produce a healthy entity functioning together for an enhanced results.
DAOstack would bring such cooperation to agencies through which they can function greatly independently and autonomously by making decisions they need to make thereby growing in members and interactions and achieving more in an effective and efficient way bringing about great transformation and transparency in the global economic system.
The diagram below is my representation of the integration of DAOstack operating system in driving and unifying agencies.
This is my submission for @originalworks contest
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