In today’s centralized economies, it is difficult and expensive to get large groups of people to work together towards a common goal. Think about a group project, it's a lot easier to work with 3 individuals then it is to coordinate the duties of 3,000 people. Not only are there inefficiencies that arise when working within large groups due to logistical challenges but it's also expensive due to coordination cost. This is why traditionally, only certain large hierarchical, centralized organization, such as governments, militaries, and large corporations have had the money, people and infrastructure set in place to take on huge projects.
What is a Decentralized Autonomous Organizations (DAOs)?
A Decentralized Autonomous Organization, or DAO, is a network of peers that encode their protocols into the blockchain, and make collaborative decisions by voting through smart contracts. Put another way, DAOs are basically decentralized entities that operate through smart contracts, where all the rules and regulations of the entities are pre-programmed and self-executed without the need of any intermediaries.
Thus, DAOs work by turning the current rules that govern a businesses into software code, which effectively reduces friction in operation. Since software, can also be upgraded, modified, and instituted much faster and at a much lower cost than a traditional reorganization or restructuring. DAO platforms can effectively reduce the inherent cost of coordination involved in more complex activities amongst participants. In doing so, they can effectively erode the competitive advantage of traditional, hierarchical, centralized organizations.
What is DAOstack?
Daostack is aiming to create a governance of Decentralized Autonomous Organizations (DAOs) on the blockchain. In essence, Daostack is building the operating system atop of which decentralized DApps can be built and governed.
Daostack is really the only platform out there (as far as I can tell) that is built from the ground-up with an architectural vision to support large-scale decentralized decision-making.
Arc is the base and foundational layer of Daostack and is basically an operating system for decentralized organizations. It consist of a library of smart contracts that can be used to create, customize, deploy and operate decentralized organizations on the Ethereum blockchain.
ArcHives is a public set of shared registries, designed to enhance the interoperability and collaboration amongst DAOs and DApps. Anyone can create a governance structure that defines rules for how a decision is made and then you, as the innovator, can pick the one you like–or create your own. That way you can create the type of organization you want to replete with the type of incentives you want to align with the community so that individual benefits and organizational growth work in concert with each other.
Arc.js is a JavaScript library used to operate the Arc layer and allows developers to easily build apps on top of the Arc without being familiar with Solidity, Ethereum's native computing language, or the blockchain. With Arc.js, any organization or industry would be able to create DAOs and decentralised applications (dApps) with relative ease and has the option of creating a custom interface suitable for its own use cases.
DApps are decentralised applications built atop Daostack. This is where organization members will interact with the DAO through the Dapps.
Alchemy is a browser DApp created by Daostack to enable interoperability between DAOs and applications within the ecosystem. Effectively, it enables community members to interact with the organization, perform tasks and submit proposals.
The Team Behind DAOstack
Nothing happens without a great team behind it and, I have to admit, so far I have been very impressed with the tea, behind the DAOstack project.
The founder is Matan Field, who has a Ph.D. in Theoretical and Mathematical Physics, is a leading expert in decentralized governance, has given numerous interviews and two TED talks!
CTO, Adam Levi, also has a PhD in physics, in addition to 22 years of programming experience and was a teacher at Technion, Israel Institute of Technology.
Alchemist, Primavera De Filippi, is a world-renowned thought-leader on blockchains and decentralization, and a researcher at the Berkman-Klein Center of Harvard. She has also authored, Blockchains in the Mainstream, and held a TEDx talk which has been viewed over 20k times.
Josh Zemel, is a marketing and communications guru. He designed and executed major growth initiatives for Equifax, Blue Cross Blue Shield and Toyota.
For More Information, check out some of the links below
- DAOstack Website
- DAOstack Summary
- DAOstack Whitepaper
- DAOstack telegram
- DAOstack twitter
- DAOstack Reddit
- DAOstack Newsletter
- DAOstack Github
- DAOstack Medium
- DAOstack YouTube