DAOs, Crypto-Organizations Are Going to Change Everything
Take a second and think — what is the most difficult thing to do at the society level for the ordinary person?
Becoming famous?
Becoming rich?
Nope.
For any random person, the most difficult thing to do at the society level is launching or participating in a large-scale economic or political activity.
And it's easy to prove:
Do you even know how to launch a single-owner company in your country?
What are your legal and tax responsibilities if you launch a single-owner company?
Even if you knew the answer to this question, the chances are very high that you will totally miss this one:
What what are the legal and tax responsibilities of a multi-owner company in your country and what is the point where you are legally or economically obliged to launch one?
Bam!
Things got extremely more complicated at this point.
You very probably don’t know the answer to that question, and in case you know parts of the answer, you very probably don’t know the entire answer. That’s why accountants, corporate lawyers, and all those professionals exist — it's their job to know these things and work through them for organizations.
Ownership shares. Rights and responsibilities are based on the percentage of shares one owns. The manager/president/CEO of the company and his or her particular legal obligations. The corporate charter. How it must be created, how it can be changed. How it can be enforced. The particular way to do accounting and file taxes. The particular ways in which profits have to be distributed, or the particular ways in which profits can be retained in the company. The rights of smaller shareholders. Who gets to vote? And how much vote? Yearly meetings and the particular ways in which they have to be organized, announced, and done…
Even further: What if the president, CEO, accountant, or other officers of the organization exploit it for their own gain at the expense of everyone else? What if they ‘shuffle’ some funds here and there? What if they move things around without anybody knowing?
All that hassle, the openness to abuse, the lack of transparency, and whatnot. And all of these don’t even scratch the surface of it.
How will someone who works in a day job even entertain initiating or participating in such an economic activity? The people who have kids to care for? Leave aside single parents?
It is complicated even for people whose jobs are actually working in and navigating this atmosphere. It is a total impossibility for any ‘ordinary’ person, for the lack of a better word.
This keeps the majority away from such large-scale economic activity and causes the economy to be controlled by concentrated money interests — the ‘Big money’.
And as a result, these concentrated, minority private interests and the ultra-rich shape not only the economy and our work life but also our daily life and politics along with it. Compromising democracy…
But What If…
What if there was something that enabled anyone and everyone to easily launch or participate in such large-scale economic organizations without ever leaving their homes?
With just a click, become a shareholder/member of a large economic organization. Have voting rights proportional to your shares or depending on the organization charter. Vote on the organization’s operations, submit proposals. Even have the profits/dividends come in automatically to your account. Without ever leaving your home.
Join millions of people in pooling money, therefore creating large capital, and directing it to use for whatever purpose you see fit.
Charity, business, research, investment — anything you can imagine…
Not only enabling people to launch large economic organizations and make a profit or allocate funds, but also giving them control of the economy to the people.
Thanks to DAOs, Now You Can
DAOs are mathematically modeled organizations that run on the blockchain.
They are democratic, participatory, and egalitarian.
A simple comparison at the Ethereum website illustrates the picture:
Moreover, you don’t even need any technical knowledge to start or participate in an organization. There are already services that allow you to launch a DAO or participate in one without any technical knowledge.
A freelancer cooperative? Large-scale charity? Citizen-run-investment-fund? Neighborhood moms’ annual bake sale organization?
Anything is possible with DAOs.
Now the capability of large-scale economic organization is as close to the people as a single click.
This Will Change Everything
DAOs will give the economic power back to the people.
They will democratize how we create and allocate large-scale economic capital. The power of the opaque, unaccountable, destructive concentrated capital, the power of the ultra-rich will be broken.
The people will be able to manage and direct gigantic amounts of capital, they will be able to create large-scale economic organizations like gigantic corporations, maybe even larger charity organizations.
And, they will be able to do that in the easiest, most transparent, most democratic of ways which could not even be imagined before.
Even further, enough people adopt this new way of doing things, the entire society will change. And we don’t even need a large percentage of people to get on board either — a pioneering 10–15% is more than enough to change the entire society.
We are on the verge of a paradigm shift that will take us into the 21st century.
A century of participatory, democratic, egalitarian economy…
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