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27 February 2021

Evolving the DAO: How decentralized companies can dominate Web3

Evolving the DAO: How decentralized companies can dominate Web3


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There’s just one issue: Some believe that the potential and promise that this technology offers aren’t being fully exploited.

A growing band of crypto enthusiasts believe that DAO will play a starring role as the world makes the shift to Web3 — paving the way for fully decentralized companies that can secure the same levels of significance and influence that centralized tech giants currently enjoy in the Web2 world.

The rise of the value internet will require a new style of organization where decentralized apps are managed by community members.

MetisDAO believes that decentralized autonomous organizations should provide far more than a voting mechanism for members of the community.

Evolution is also needed to ensure that members of a community can trust each other easily.

Known as Optimistic Governance, this approach aims to unite community members through the use of staking bonds, which ensures that participants are financially committed and motivated to work in the best interests of a project.

Decentralized companies can be established in three simple steps — and the embedded trust mechanism means that they can collaborate with anyone.

This is coupled with a simple interface that Web2 users will find easy to understand, and straightforward APIs that pave the way for integration with other DApps.

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cointelegraph.com
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