What is a Decentralized Autonomous Organization?
A DAO is virtual digitization — on a decentralized blockchain — of some of the physical or virtual interactions of a real-life organization (i.e. a legal entity).
Thus, there is no particular type of but rather a multitude of because of a multitude of possibilities for dematerializing the interactions that are performed by an organization.
At the technical level, a DAO operates through smart contracts that interact together in such a way that these 2.0 interactions (voting rights, financial transactions using crypto-assets, etc.) have the same underlying qualities as the smart contract technology they are based on decentralization, speed, transparency, and immutability.
You can see the number of holders (members) and their influence directly in the DAO (on the blockchain)
You have guessed it: the decision to create a DAO for its structure is not a choice to be taken lightly because like any technological revolution, this choice could prove to be a double-edged sword for your structure if you do not master perfectly — theoretically and technically — the basics of.
Why use a Decentralized Autonomous Organization for our project?
A quick reminder of the nature of our non-profit project is worth mentioning: KRYPTOSPHERE® is the first project in date (since 2018) and in number (+100 members) that educates and trains students on blockchain technologies ( as well as or virtual reality and ) within 6 engineering and business schools in 4 cities in France.
Therefore, the geographical distribution, as well as the number of students collaborating on a daily basis, make our project a daily challenge in motivating and managing our student-members. Indeed, the (essential) diversity of profiles, ideas, and projects within KRYPTOSPHERE® represents both an opportunity and a challenge: every important decision has to be decided together with all the antennas and their members. So, this is often not the case due to a large number of decision-making to be handled within the project. Consequently, only the oldest and most experienced members “centralize” the decision-making power, which consequently hinders the diversity of ideas, assigned responsibilities, or the diversity of decisions.
As a result, our project has chosen to create a DAO allowing all our members to express themselves through a right to vote (according to their percentage of influence). This influence percentage will be determined according to several internal and targeted indicators: the number of months spent in the project, the member’s apparent and real motivation, their involvement, and activity within the project, etc.
Of course, these indicators will be collectively agreed upon by the Antenna managers as well as the former members who are still actively involved in the project.
In addition, the will make it possible to collect, directly in ethers, the annual dues of our members (total transparency of the management and flows of these dues will be visible and traceable on the Ethereum blockchain).
You can track our members yearly contributions made to our DAO
The usefulness of our DAO then becomes clear: it allows us to record instantaneously a part of the activity within our project, both on a globally and individually scale. Of course, all public interactions will remain anonymous and in accordance with the (we will not reveal the real identities of our members to anyone else except to some of our project members).
From the point of view of our members, they can choose to increase their percentage of influence within the project (through their involvement for example), which is something that could be seen as a guarantee of motivation for all.
The ability to vote, to contribute, and to see our daily activity via our are only the first steps in a long-term experiment. If this still proves to be as useful and relevant as ever, it will be further extended to our various activities within @ KRYPTOSPHERE® :
“ The future can’t be predicted but only prepared “
Make an ether donation to our project through our DAO :
Our DAO website: blockchaineur.github.io/kryptosphere_dao/
Author : @Blockchainheure
Originally published on May 18, 2020.