What is a DAO (Decentralised Autonomous Organisation), and how does it work?

Decentralisation is one of the central principles of #bitcoin and a key factor in its popularity. It removes the middlemen and brings us one step closer to the future. But how can decentralised systems change the world? With DAOs or Decentralised Autonomous Organisations, smart contracts can do things which were once only possible in science fiction.

Can you picture what a DAO looks like? What projects are you excited about? Let us know in the comments below 🚀

0:00 What is a DAO?
0:15 DAO definition
0:45 DAO ethereum
1:16 DAO crypto
1:50 How does a DAO work?
2:22 DAO stakeholders

#ToTheMoon

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[ohrenschall]

I almost never comment on videos. But this time I need to say: Thanks for this extremly streamlined and easy-to-get video!!

[allyson]

Thank you for this clear explanation. Schools could be run on dao with parents voting and fees collected and then used to pay the expenses. That’s just the first thing that popped into my head. The applications seem limitless.

[marcusdruen]

How about a DAO for change in organisations? Change corporate behemoths from within with smart contracts. You earn token of a company-specific Change DAO by - you guessed in - demonstrating the desired change, and thus can vote on further change initiatives. From role-models to first followers, in principle.

[josephanthonybernardo]

I've read several definitions of DAO but I couldn't grasp it. The definition of a DAO provided by this video was very clear and concise. So i decided to subscribe to this channel.

[Brian-tcii]

The workload vs cost of a DAO is beneficial to just about every organization there is that seeks efficiency, profit (not just monetary) and growth.
Nonprofits should be the first for adoption. Streamlined it all and remove 99% of centralized bureaucracy and get those funds allocated where needed and wanted by all voters/stakers.

[NROhvac]

Kinda how people back then viewed the new and up coming internet. This is the future of tech

[louiesoverit]

Currently contemplating a Homeowners Association run by a DAO. Voting for updates, regulations and such. Cryptocurrency staking with intrest banks can't touch. The money saved from greedy property management companies would be off the charts. ✌

[raneanubis]

I really like this guy, greta channel, really well explained and fun visuals without distraction. Nicely art directed too! instant subscribe.

[johnhenrybrownstead]

Anything that people use in every day life has the potential of a DAO.
it's on us to figure that part out.

[tonwort]

Thanks a lot for Your work. I want to see DAOs sprout up around the topic of education and schools because of the many problems now arising. We need to streamline education and make sure we give the best to our children because this input is directly influencing our future.

[bjoernfu]

Maybe a DAO is the future for all necessary goods like pharmacy, water, energy etc. That all human have the same rights and no one big industry in some countries 🤔

[vladanlausevic]

Thanks for the video, very pedagogical and impressive

[jasonsong]

Thanks for the vid. Can you advise what a DAO looks like? I have a hard time conceptualizing this. Is it just the system itself but no tangible or physical thing? I know what AMMs are and how governance work and liquidity pools and rewards from transactions or staking but putting all of these concepts together is tough. Are all these things part of a DAO system? This is one drawback of trying to learn from YouTube vids - it covers topics well, but it's tough to see how they fit into the bigger picture. Hopefully, you can help explain.

[ForYouMentor]

Great Explanation. Thank you. But Unfortunately most of DAOs that have been created were controlled and are still being controlled by the original creators so called the Team. Recently many DAOs crashed due the token price dipping but instead of letting the community or Stakeholders to decide they simply shut down the DAO and project and letting many stakeholders loss their money. The creation of Blockchain was about decentralization and making people free from few making decisions for the rest. Blockchain was created to create a better world for everyone if Blockchain would not able to do this then, we are soon going to see Blockchain and many related projects die. #Dao #bitcoin #cefi #defi #Daos

[colinrickels]

I think we could see more SaaS (software as a service) companies become DAOs in the future. THe heaviest lifting in a saas company is done by the developers and sales teams. Establish in the DAO what the business purpose and objectives are with enough leniency to handle curves, hire your base employees to see it through and done. A software company without a C suite would be a dream.

[DanielKyne]

The one thing that always feels missing from the autonomous vending machine analogy of DAOs is why a DAO vending machine is better than a Web2 automated vending machine.

[jorgfuchs]

Thx for this leaerning nugget. We’re considering to remap a design agency in a DAOs governance structure

[geobotk]

Unless the people putting in actual work also have a vote I only see this leading to an even scarier future than what we live in right now. After seeing up close the inhumane conditions people are working under within the gig economy and the cruel negligence of most large businesses towards their employees during the pandemic, it's clear that some form of control from the workers themselves is necessary for a healthy, ethical, rational, and productive workplace.

[MomentableArt]

Well done, great video, simple and easy to understand.

[gomgomsiahaan]

Thank you for this video, it is easy to understand the concept.