from:

Zeb Lelie / Why building a decentralised organisation?

What’s a DAO?

Decentralized Autonomous Organization

Collective of like-minded individuals focused on solving a common goal. These communities leverage smart contracts to pool funds and issue new shares with a lack of hierarchy (i.e no leaders). This system ensures no funds are being spent without the group’s consensus, presenting anew paradigm for social coordination, unlike anything we’ve seen to date. — Cooper Turley (2019) @Cooopahtroopa

Why a DAO?

• minimize management burocracry
• no single authority
• less peer presure
• censorship resistance
• more trust and transparency
• open and inclusive (low barrier of entry)
• global
• spontaneous order, which is unpredictably creative
• potentially efficient, (10x less people with more money (10x)