Article written by quest author Eloisa Marchesoni.
Did you ever hear about Decentralized Autonomous Organizations (DAO’s) communities, where members have voting rights and work alongside the CEO?
DAO’s, are the most recent trend.
“This community-owned type of business model has the potential in Network Marketing / Direct Selling / Social Selling to revolutionize the governance of corporations and smaller businesses by improving the way we organize.”
A DAO is a community-led group governed using NFTs that grant members voting rights. DAOs are an effective and safe way to work with like-minded folks around the globe.
Think of them like an internet-native business that’s collectively owned and managed by its members.
They have built-in treasuries that no one has the authority to access without the approval of the group.
Decisions are governed by proposals and voting to ensure everyone in the organisation has a voice.
There is no CEO who can authorise spending based on their own whims and no chance of a dodgy CFO manipulating the books. Everything is out in the open and the rules around spending are baked into the DAO via its code.
Why do we need DAOs?
Starting an organization with someone that involves funding and money requires a lot of trust in the people you’re working