A short film about the rise of Decentralized Autonomous Organization with narration by Shermin Voshmgir.
Blockchain is, I would say, not only a technological revolution but first and foremost a socio-economic revolution. The blockchain is a tool to bring us into a more decentralized world.
Why can we disrupt organizations with blockchain? In order to understand this we need to understand the history of the internet.
So if we look back the first generation Internet, in the early 90s, revolutionized information. This is why we called it the information data highway.
About ten years later we have the so-called web 2.0 – the internet became more mature, more programmable and all of a sudden we had on the one hand social media platforms and on the other hand a peer-to-peer economy where the consumer and the producer came, closer to each other of information of opinion of goods and services.
So the original vision of the internet was to be a decentralized world where everyone could put information online.
But in the web, it became very centralized with those platforms. It brought us this peer-to-peer economy but with this huge man in the middle this platform in the middle who started to control all the data and dictates the rules of transactions of that platform.
So instead of the internet becoming more decentralized it became more centralized, and what we’re doing now with blockchain and InterPlanetary File System (IPFS) and all these other technologies of the decentralized web, is we are redesigning data structures given the fact that we are already living in the connected world. If we think of blockchain in the context of the internet it is the driving technology behind the decentralized web, or also called the Web 3.
Digitex CEO, Adam Todd, explains that Digitex is converting into a DAO and how token holders are being given the exchange for free — and what effects this will have on token price and the longevity of the exchange.
This video explains the idea of a Decentralized Autonomous Organization (DAO) and talks about the current context surrounding the term.
A decentralized autonomous organization is an organization that is run by rules that are created by their members through a consensus process and then written into a set of contracts that are run via computer code, thus enabling the automated management of a distributed organization.