The Power of DAOs

A Decentralised Autonomous Organisation (DAO) is an emerging term for blockchain powered organisations. Much like traditional organisations, they seek the creation of value, but have removed the centralisation of power in this process. They possess revolutionary advantages for the next wave of innovation. The blockchain is making it possible for individuals to build digital wealth, reputation and trustless relationships. DAOs are already stewarding significant assets and operating effectively with thousands of participants.

We recommend reading this article for a detailed overview of DAOs. Here is a brief summary:

• DAOs are a way of organising individuals at scale

• The purpose and shared vision of a DAO is vital

• It’s typical for a DAO to manage a treasury of crypto assets

• Community ownership and governance is imperative within a DAO

• There are many types of DAO, from social communities to investment cooperatives.

We have witnessed the rise of blockchain technologies provide a digital monetary system through Bitcoin. We’ve seen Ethereum shake-up the financial sector through the DeFi boom. NFTs are shaping how we store and trade digital assets. The innovation in the web3 landscape is filled with opportunities, but also risks. We believe the biggest opportunity is within the future of work across global organisations. The Web3 DAO movement is driven by legitimate people seeking to create value (not just a quick buck). The blockchain technology advancement is mirrored by humans shifting their work and life patterns, taking ownership of their success and becoming startup founders and freelancers. We’re beginning a confluence of technological capabilities and a shift in human consciousness, creating the next wave of innovation and organisational design. The age of DAOs is upon us.