How does a DAO work?

Decentralized autonomous organizations (DAOs) are like traditional organizations, except they run autonomously, or almost. Much like traditional companies, DAOs have stakeholders that vote on changes. So while they run autonomously, so-called stakeholders can vote to influence decisions and direction. DAOs, just like pretty much everything else connected to cryptocurrencies, are an extremely new and, to some extent, revolutionary technology. In this episode of Ask Luno, we go in-depth on how they work. Can you picture companies that could one day run without human intervention? Let us know your thoughts in the comments below.

Automated Finance | Making DeFi Accessible

Clay Robbins, 0x Growth Lead, explains “automated finance” which enable developers to build the next wave of user experiences that will make decentralized finance (DeFi) more accessible.

Within Decentralized Finance (DeFi) is Automated Finance, which is abstraction of complex financial transactions into trustless, accessible user experiences.

Within Decentralized Finance (DeFi) is Automated Finance, which is abstraction of complex financial transactions into trustless, accessible user experiences.

Introducing Autonomous Economic Agents: What is an AEA?

Autonomous Economic Agents (AEAs) are adaptive independent programs that have a narrowly defined goal to produce some economic gain for their owner. These agents will be at the forefront of the next industrial revolution, disrupting billion-dollar industries and creating innovative new solutions.

Fetch.ai is a world-changing project, a “decentralized digital world” where autonomous software agents act on the behalf of their owners, or themselves, to get useful economic work done. They consider themselves to be a “dynamic, fast-growing international team of experts and forward-thinking technology enthusiasts working on the convergence of blockchain, AI and multi-agent systems.”

They are building a collective super-intelligence on top of decentralized economic internet built with a highly scalable next-generation distributed ledger technology. Combined with machine learning, this delivers the predictions and infrastructure to power the future economy.

Decentralized Autonomous Organizations

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.

Sustainably Decentralizing Power, Using the Blockchain?

Private property, modern liberalism, the worldwide web – all of these inventions were supposed to be about decentralizing power, but with every single one we have seen reconcentrations of power.

Glen Weyl is Microsoft’s principal researcher; a visiting research scholar at Princeton’s Woodrow Wilson Schools. He is a political economist and social technologist; his book Radical Markets proposes to abolish private property using blockchain technology. He argues that by thinking through the social and economic dynamics of decentralization, we might be able to build rules into a decentralized system to make it last.

Blockchain 11: Decentralized Autonomous Organizations

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.