Internet Computer

Think you understand DAOs and what they mean to the world and human progress?  I’d be willing to bet that you don’t fully understand.  But before I tell you why, I want to introduce you to Johnny.I met Johnny Mganga when I lived with his family for a few months as part of an assignment for the Peace Corps in 2006.  The Mganga family lived in Morogoro, Tanzania.  They were middle-class, which for that area and time meant they had sporadic power and could afford an occasional dinner that featured chicken.  Johnny was a hustler in the best sense of that word.  One day he captured a stray dog and spent a week or two training it so that he could sell it as a guard dog.  Another day I found him soliciting his neighbors to buy their leftover phone minutes (remember those?), combining them into a package of a few hundred minutes and then selling the bundle.  He always had a new idea to make money and he had a knack for understanding what brought value to people.I bring up Johnny because I learned three truths after living with him:<ol><li>Talent is equally distributed throughout the world</li><li>Opportunity is not equally distributed throughout the world</li><li>Talent without opportunity is unfair and, for the purposes of this blog, an inefficiency of human society.</li></ol>When humans evolved from Human Organization 2.0 to 3.0, described in my previous post, we went from only a very few humans having access to opportunity to many people having access to opportunity.  Albeit, even today, that “many people” tends to be only the wealthy, politically connected or socially influential.  The fact of the matter is that even today the majority of the world, people like Johnny, don’t have the opportunity to make use of their talents to their fullest capacity. It&#39;s a tragedy on the individual level and a missed opportunity on the societal level.If you think of DAOs as simply a mechanism for governing investments, or fundraising, or even governing code, you are missing the forest from the trees.  True, those are the first use cases of DAOs, but the ultimate impact of DAOs will be far greater.  DAOs are the empowerment of individuals to contribute their talents regardless of their geographical location, their political power or their wealth.  But let’s take a step back in case you aren’t familiar with DAOs.A DAO (Decentralized Autonomous Organization) is a blockchain-enabled organization of people on the internet who share a common goal.  A DAO focuses on a bottom-up decision-making process and, as such, lacks any central ownership.  That last part of the last sentence is the point of a DAO - a lack of central ownership means no central authority and a lack of central authority means the power and process belong exclusively to the DAO stakeholders.  Decisions are made via voting and communication amongst DAO members tends to occur online.  A DAO can own digital assets, such as NFTs, cryptocurrency and stock.  A DAO can also govern anything online, including any decentralized code (like the Internet Computer Protocol), communication portals (like chat moderation) and even digital companies.  DAOs will one day be used to own and govern non-digital assets like real estate, community goods and natural resources.Still don’t get DAOs?  That’s OK, the next few blog entries will go deeper into them.  For now, know this - DAOs will unlock human talent and improve humanity’s ability to organize around ideas.  DAOs represent a giant leap forward in human organization and for the first time in human history the majority of the world’s population will have the ability to create and participate in projects that improve their lives.For people like Johnny, those with a hundred great ideas but without the opportunity to execute on them, DAOs will provide an avenue for them to get ideas off the ground.  If the idea requires capital, a DAO could help raise those funds (and align incentives amongst all the participants).  DAOs will provide access to a global network of talent from individuals who are passionate about the same idea.  Humans will finally have the ability to pool resources around a global population of people and ideas.DAOs also provide a more effective mechanism (albeit far from perfect today) for group decision-making, one in which meritocracy leads to more influence in the decision-making process.  This means that people like Johnny will be able to focus on their natural gifts, rather than relying on central authorities to lead on a broad range of topics.  It also opens up the opportunity for each individual human to contribute to projects and ideas in a manner for which they are most capable and most willing.In short, the evolution of DAOs means more ideas, more efficient resourcing of those ideas and more productive governance of those resources.  In the next post I’ll go into detail how DAOs accomplish this.  Thanks for reading.By Kyle Langham, Director of Data &amp; Analytics &#64; DFINITY Foundation

Human Organization 4.0, part three

Internet_Computer

Other articles published on Mar 25, 2023

Kaspa On Twitch

Zenland P2P Marketplace v.1.1.0 is Live!

Nigeria’s Central Bank Governor: Nigerian Banks not directly linked to Silicon Valley Bank

Regulators Lobby UK and Canada To Tighten Grip on Crypto: Journalist

Cardano’s Charles Hoskinson Urges Crypto Industry to Resist US Government’s Anti-Crypto Campaign

Mysten Labs Agrees To Buy Back Sold Stocks From FTX at Discount

Join our free newsletter for daily crypto updates!