Is Decentralized Autonomous Organization the future of work?
“You never change anything by challenging existing reality,” Buckminster Fuller once wrote. “To change something, build a new model that makes the old model obsolete.”
One of the ‘new models’ emerging from Web3 is the rise of the Decentralized Autonomous Organization (DAO). When I first heard the term, I thought I was hearing a reference to the ancient taoist practice, but what I’ve learned is the DAO is an important building block in the Metaverse, and even if the Metaverse itself turns out to a dream of elitist technologists, the idea of a decentralized economic models feels like the way forward for me.
I’m one of those guys who looks at the current state of economic affairs and is not all that impressed. it cost me ten grand to go to college and it cost my daughter 140 grand. That’s a pretty big span over a forty year period.
Does that feel right to you?
We need some new ideas.
What is a decentralized autonomous organization?
Basically, it’s a way for like minded folks around the world to work together on internet projects collectively owned and managed by members of the DAO.
Rules for how the DAO operates are encoded as a software program, transparent to all members. This builds an organization open to all members, shaped by its members, and ultimately in full trust of its members. Goals and plans for the DAO are developed by all members, with no central authority. Every member of DAO has a voice and decisions are made by proposals and votes on the proposals.
Kind of like the legendary Park Slope co-op in Brooklyn, yes, kind of like marxism on steroids, but I never bought the anti-marxism propaganda. The guy had good ideas. Read Capital for yourself.
So is the DAO concept communism?
I see it as more about trying to bring. bucket of honesty to the bonfire of corruption that has become much of 21st capitalism.
But this DAO does sound utopian, if Utopia is precisely defined and operated according to preset rules.