Web3Nomad: DAOs

What up peeps?

Continuing to navigate this web3 space and it’s disruption.
One of the interesting things coming with it is the way humans are re-structuring their social contracts. One of those contracts that is being restructured is Work. What does it mean to work? Who are you working with? and what are the values and goals of the organization you are joining?

One of the ways work is being challenged or changed is through the concept of the DAO (Decentralized Autonomous Organization)

First I’d like to say that these organizations are neither Autonomous nor Decentralized. They are run by people and they are just more decentralized than traditional companies/corporations. Meaning that instead of 1 to 3 owners, the DAO is owned by its workers and workers have a stake in the DAO.

But what does this mean? Why is this important?

We’re still in the early stages in the emergence of DAOs so it’s hard to say what is the magnitude of their relevance. The way I see it, DAOs are a way to “redistribute” wealth by building things, and by using technical and social skills from the bottom up. It’s not by taking from the rich. It’s not welfare from the state. Instead, it’s dreamers building a more compelling and valuable “Life” product than the one currently offered by our current social and economic contracts. And it’s NOT free. It requires the time and effort of those willing to build one.

DAOs are also an opportunity for those with an entrepreneurial spirit that don’t want to go at it alone or don’t have the technical know-how. Maybe they don’t see themselves as leaders, but rather supporters of ideas that rhyme with their own. Their act of joining is really voluntary, based on intrinsic interest instead of working to pay rent.

Another very important thing about DAOs is that they run on smart contracts on the blockchain, which is what makes them somewhat autonomous but most importantly, it provides transparency for all of those involved. Everyone can review what is happening on the DAO.
DAOs usually use a token for governance and people can use it to apply for working groups, vote on governance, participate in bounties, staking, and more. You can assume a lot of responsibility or very little responsibility and you are rewarded accordingly. And you can work from anywhere

As with many management and governance models, there are challenges and issues to be solved. And, as with start-ups, the majority will fail. But those that succeed will be a challenge to the current model of corporations, as some of these DAOs are offering to compete in the realm of Public Goods, Data Privacy and Ownership, Energy, Social Media and Digital Rights, and more. Some may even become digital nations. All through products and applications that will benefit the communities that build them.

Of course, because of my interest in blockchain and web3, I find myself currently participating in a DAO, JoystreamDAO to be precise. It’s in the Polkadot ecosystem. I’m fascinated by Pioneer, which is their DAO governance forum that is running on a blockchain. I see the daily influx of new contributors taking a role and finding a place for themselves within Joystream and getting to work.

(image: Pioneer Revealing Period of the current election of Councils. This happens weekly.)

Joystream also has Atlas, which is their main product. A decentralized Video Platform DApp for creators which supports full length video NFTs, Creator Tokens, reactions, comments and more.

(image: Atlas Channel look)

JOY, the token of the Joystream universe, is currently being allocated to those that are contributing to the building of the DAO. Both technical and non-technical jobs available.

Look out for DAOs popping up and join one. Look for the ones offering products in fields of your interest, give them a try, and experience for yourself what it is like to work for one and to see their stages of development. Some of them do look very promising and may even make history and transform our societies.

Thank you for reading :)
Eclipsing Binary
https://linktr.ee/eclipsingbinary