DAOs are the foundation of Web3, the creator economy and the future of work By Cointelegraph
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Decentralized autonomous organizations (DAOs) started out as a simple concept envisioned as organizations, created by an idea and fueled by developers, that automate business functions and processes by leveraging smart contracts and all the fundamental tenets of blockchain. The core idea was to flatten the complex business process that various organizations are mired in and facilitate movement of assets to a very future-oriented digital interaction that needed no intermediaries — promising faster, cheaper and more transparent transaction processing.
By replacing many intermediaries, the DAOs themselves acted as digital intermediaries that provide transparency and scale, giving them the stature of an organization without the traditional organizational constructs of entities, groups, management, charters and other forms of collective action. While the traditional centralized organizational structure is being challenged, the key organizational elements that remain are fueling a new economic revolution that is giving birth to a new creator economy and bringing artists, lawyers, developers and creators together from all around the globe to create ideas and monetize them at global scale in permissionless crypto economic systems built upon blockchain and Web3 technologies — and essentially defining the future of work.
Ananth Natrajan has over 18 years of experience worldwide in several roles, including research and development, business acquisition, systems engineering, product development, construction management and project management. His startup is building cybereum, a blockchain based platform for collaboratively managing complex projects with multiple stakeholders. He holds BEng & MS degrees in Mechanical Engineering, an MBA from IESE, and an MSc in major programme management from the University of Oxford. He is a professional engineer (PE) and project management professional (PMP). He has led multi-disciplinary teams in several complex projects and technology/product development efforts. Ananth has several patents in offshore wind turbines and blockchain technology.
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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
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Decentralized autonomous organizations (DAOs) started out as a simple concept envisioned as organizations, created by an idea and fueled by developers, that automate business functions and processes by leveraging smart contracts and all the fundamental tenets of blockchain. The core idea was to flatten the complex business process that various organizations are mired in and facilitate movement of assets to a very future-oriented digital interaction that needed no intermediaries — promising faster, cheaper and more transparent transaction processing.
By replacing many intermediaries, the DAOs themselves acted as digital intermediaries that provide transparency and scale, giving them the stature of an organization without the traditional organizational constructs of entities, groups, management, charters and other forms of collective action. While the traditional centralized organizational structure is being challenged, the key organizational elements that remain are fueling a new economic revolution that is giving birth to a new creator economy and bringing artists, lawyers, developers and creators together from all around the globe to create ideas and monetize them at global scale in permissionless crypto economic systems built upon blockchain and Web3 technologies — and essentially defining the future of work.
Ananth Natrajan has over 18 years of experience worldwide in several roles, including research and development, business acquisition, systems engineering, product development, construction management and project management. His startup is building cybereum, a blockchain based platform for collaboratively managing complex projects with multiple stakeholders. He holds BEng & MS degrees in Mechanical Engineering, an MBA from IESE, and an MSc in major programme management from the University of Oxford. He is a professional engineer (PE) and project management professional (PMP). He has led multi-disciplinary teams in several complex projects and technology/product development efforts. Ananth has several patents in offshore wind turbines and blockchain technology.
Continue Reading on Coin Telegraph
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
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