Over the years, the world has seen how blockchain technology has affected the world positively, it all started with bitcoin. Blockchain technology still seem unclear to so many people but its relevance in our world today cannot be overemphasized. Blockchain technology seeks to bring real improvement and change to traditional ways of doing things, just last week I found out about a loyalty program built on blockchain technology. One major problem we encounter everyday is trying to cordinate a group of people towards a common goal. Different organizations use the system of hierarchy where power is centralized by a selected few and decisions are made by the selected few. DAO which means Decentralized Autonomous Organisation is a management model that will change the traditional methods of managing organisations using smart contracts. Basically, we can refer DAOs to a layman as an organization that can operate functionally without hierarchy management but on pre-written codes.
What are DAOstacks
DAOs used to be an abstract idea or to say the least, it was operated in a limited cases until DAOstack came in. DAOstack is a management model that is built on Etherum blockchain to Decentralise method of governance using methods like holographic consensus where effective decision are made coherent by the support of majority rather than the traditional methods of centralized governance. DAOstack is a project that took 4 years of research and development and it refers itself as "Operational Stacks for DAOs" and "Operating System for Collective Intelligence". DAOstack is model that is both orientable and superscalable. This means that DAOstack model will be achieve set goals no matter the number of persons or how large the organisation is, these property is associated with firms. Been superscalable means as the organizations gets bigger, it becomes more effective and efficient just like a free market system. DAOstacks enables global network to self-organize around shared goals and joint action, combining the scale and efficiency of the largest market with the support of the smallest firms. DAOstack has a scape and the letters of the DAOscape are:
ARC: is a modular, adaptive governance on the blockchain using smart agency. It consists of the regulations and contracts in the organization. Decisions on token sales, business constraints are all done in the arc.
Alchemy: is the first DAOapps built where decentralisation budgets for open source projects are carried out and also more smart contracts are created on the DAO ecosystem. The alchemy has an intuitive UI and it's allows participants to utilise their voting power. Tokens are also created using Alchemy.
GEN TOKEN
The Gen token is the transferable which is in form of monetary wealth and also fungible. The amount of GEN token of a user can increase or decrease depending on how the user stakes for and against a proposal respectively. The GEN token is one of the measures DAOstack will curb resilience in the ecosystem.
Benefits of DAOstack
DAOstack will change the ways organisation are run by introducing an incorruptible model of governance which is superscalable and decentralising power while promoting transparency.
DAOstack will reduce costs by ensuring coordination of complex activities by users and since it is run on codes, it is quite cheaper than the traditional methods of restructuring the organisation.
DAOstack method of voting is incorruptible because voting power is not transferable. Voting power is one of the currency used on the platform but it is differentiated from the GEN token. If voting power was transferable, it can be bought and decisions can be influenced.
.....We resolve that tension with a new collective decision-making process, called Holographic Consensus, whereby small groups can make decisions on behalf of the larger majority in such a way that guarantees perfect alignment between the two.” — DAOstack architect
A very good example of DAOstack Use-cases is Asset Management: For example, a company will deliberate on what percentage they want to increase employees salaries or how much they should invest in charitable works. These problems could be solved using Dapps to suit their needs.
https://steemit.com/crypto/@originalworks/370-steem-60-bonuses-sponsored-writing-contest-daostack
daostack2018