A DAO can be termed as the next evolution of a company or a multinational cooperation. Ten or twenty years from now, we can see people working for a well-established DAOs. DAO can ensure better transparency of the transactions and events happening inside institutions and give equal opportunities to everyone who is connected to the internet. What is a DAO? DAO is a set of smart contracts that resided on a block chain. They work like a company but in a more transparent, global and effective manner.
This article would like to bring your attention to a new emerging DAO which is known as “Wings DAO”. Wings will allow companies and entrepreneurs to set out their own DAOs. They can submit their projects and the Wings DAO holders will review it. The Wings DAO holders will be rewarded with additional tokens of the accepted projects. Wings DAO holders can reviews, forecast and support projects which they deem is it to be implemented. Wings itself will be controlled by its Wings members.
The Wings platform will have features to make the entire process smooth and easy as possible. The platform offers Chatbots technology, which provides a universal way to communicate based on natural language. Following on the success of the Telegram chatbot API, major companies including Facebook and Microsoft have started working on their own solutions. Chatbots will be the Wings interaction of choice, augmenting the standard UI and enabling DAO interaction through natural conversation. The Wings platform will ensure that users will be able to manage and control their DAO through common instant messengers, and increasing member involvement in their DAO.
Wings token holders are entitled to vote over various projects that are reviewed. Voting rights are also associated to those that who have purchased Wings tokens. Votes may be cast in regards to Wings management or to show support for new proposals.
Wings will provide help with to the new projects regarding the Legal framework. Wings has already created partnerships and secured sponsorships with the well-established entities in the Crypto block chain industry. Some of them are BITMAIN, RSK,
SHAPESHIFT and airbitz.
I had the opportunity to talk with a core team member of Wings DAO and here are some of the interesting questions and answers to them which will help you to get a better idea about Wings DAO platform:
How long have you guys been working on this project? How many months or years...?
We started the ideation phase some time in Feb/MarchWhat motivated you guys to make this a reality despite of the fact that slock.it DAO got hacked and failed?
We had already started on this before slock.it came out so we just saw the tremendous amount of money that went into The DAO as validation of the concept that people wanted some decentralized way to evaluate and fund projects
Stas and Boris had previously created Crypti (which LISK is based off of) and they feel confident that we have the development chops to do this right.Where do you expect Wings DAO to be in 5 years?
We see WINGS first being used to provide a platform for project evaluation, funding and governance by entrepreneurs, however we also believe that the concept of DAO or rather immutable smart contracts controlled transnational organizations , and forecast markets for decision making (or decision support) has a place in corporations wanted to engage wider groups of stake holders to allow the open innovation concept as well as in local governments want to engage local citizens to take a more active role in the decision making and budget allocation of local projects.
Additionally, we hope to receive enough donations in the Nov 18th crowd funding to build cross-blockchain support which means it opens up a lot of possibilities for WINGS as a platform to integrate with other Dapps and provide additional services to DAOs and base decision-forecasts resolution on cross-blockchain facts.Are you planning to give a surprise to the Wings early adopters and
backers once the Campaign is successful?
There are some DAOs in the planning phase right now and we hope to announce them soon, we think that people will be very happy to see some business which are real and already making money wanting to adopt the DAO concept for their business, and give WINGS members a way to get involved.
The Wings DAO crowd funding is all set to start on November 18. It will be for duration of 49 days. Interested parties can invest and be a part of this amazing project.
References:
https://wings.ai/
https://wings.ai/docs/WINGS_Whitepaper_V1.1.2_en.pdf
https://blog.wings.ai/7-reason-why-corporations-are-the-living-dead-and-daos-will-save-the-future-1e1e75663b2b#.k7672wq63
https://news.bitcoin.com/wings-dao-fail-slockit/
https://www.youtube.com/watch?v=jn1lrDC-Rg
https://bitcointalk.org/index.php?topic=1477055.2180
https://en.wikipedia.org/wiki/The_DAO(organization)
https://en.wikipedia.org/wiki/Decentralized_autonomous_organization