Why DAO be the most important blockchain application for business in Future ?

There are often many technologies which helps business and enterprises and they are often seen as having the potential to revolutionise how businesses and organisations are run with a huge change. In addition, many public and commercial organisations are working hard to enable more decentralised, open, and effective decision-making processes in the modern world. Decentralised Autonomous Organisations, or DAOs, are going to be the next big thing in this industry, in my opinion. Because of numerous possibilities, many people think that DAO technology has a strong chance of influencing technology in the future. The creation of decentralised platforms for several industries, including banking, supply chain management, and governance, might be accomplished using DAO. It's feasible that many businesses may adopt DAO technology in the future, which might have a significant influence on how technology is used and created.

Why someone should choose DAO ?

1. Decentralisation: DAO networks are not governed by a single body since they are decentralised. As choices are made by the network's whole membership, this can make them more transparent and censorship-resistant.
2. Efficiency: DAO networks provide for more effective decision-making since they are managed by code rather than by people. The expense and complexity of administering an organisation may be lessened as a result.
3. Transparency: DAO networks often have transparency, allowing members to observe how decisions are made and how cash are allocated. As a result, there may be more accountability and trust inside the company.
4. DAO networks can facilitate more innovation and experimentation since they are decentralised and managed by their users. This can aid businesses in staying current and adjusting to shifting market conditions.

These are the most interesting DAO Companies

BitDAO

The world’s largest treasury

The DAO ecosystem has never seen anything like BitDAO. Through several mega-raises, it has not only amassed a treasury of more than $2.5 billion, but it has also drawn well-known investors like Founders Fund, Alan Howard, and Peter Thiel.

Decentraland DAO

Decentralized city planning committee in the metaverse, MANA and LAND holders

The Decentraland DAO is a combination between a city planning committee and a homeowners association. The primary distinction is that everyone has voting power based on how much virtual property they possess rather than on elected representatives. As a result, some real vote totals for proposals may appear low. With 48 in favour and 1 against, the motion to permit land management using the content management system dclconnect was approved. But in the virtual world, the 10,125,615 voter power (VP) that underlies the yes votes truly represents a sizable investment.

RaidGuild?

A Web3 marketing and design agency for hire - Freelance builders and designers

With financial support from DAOhaus, MolochDAO, and MetaCartel when it first debuted in 2020, RaidGuild now has 130 members and $6.2 million in its vault for "slaying Web3 product demons."

How to implement DAO to your Organisation ?

Implementing a DAO in an organisation can be a complex process, and it is not necessarily the right option for all organisations. If you are considering implementing a DAO in your organisation, here are some steps you can take:

1. Understand the basics of DAO technology: To effectively implement a DAO, you will need to understand the basics of how DAO networks work, including the technology and protocols that they use. This will help you to make informed decisions about how to implement a DAO in your organisation.
2. Determine your organisations needs and goals: Before implementing a DAO, it is important to carefully consider your organisation’s specific needs and goals. This will help you to determine whether a DAO is the right option for your organisation, and to identify the specific benefits and challenges that it may present.
3. Develop a plan: Once you have determined that a DAO is the right option for your organisation, you will need to develop a detailed plan for implementing it. This plan should include a timeline, budget, and specific tasks and milestones.
4. Select the right technology: To implement a DAO, you will need to select the right technology, such as a blockchain platform, smart contract language, and consensus mechanism. This will depend on your organisation’s specific needs and goals, as well as the level of complexity and scalability that you require.
5. Engage with the community: DAO networks are often run by their members, so it is important to engage with the community and ensure that they are involved in the decision-making process. This can help to build trust and support for the DAO, and to ensure that it is successful.

Why business should not choose DAO ??

Although DAO technology provides a lot of potential advantages, it also has significant restrictions and disadvantages. For instance, DAO networks might not be the best choice for enterprises that want a high level of centralisation and control because they are decentralised and governed by their members. DAO networks may also be complicated and challenging to deploy since they frequently involve blockchain technology, which may not be practicable for all enterprises. DAO is therefore not always the ideal solution for private businesses, even though it could be for some of them. Before selecting whether DAO is the best solution for them, it is crucial for enterprises to carefully assess their unique goals and requirements.

Early Adaptation of DAO through gaming

A great way to introduce people to the DAO idea is through gaming. People are compelled to comprehend the worlds they are in, creating the laws, the operation, and the structure of the entire system, just like a game. If the DAO is the supporting framework for the game's universe, then players will have to understand how it works and show how useful it is for gaming. With this key market penetrations DAOs will start to be used outside of games for things like SME, enterprises, Studios, and more once people are aware of them and their advantages.

In conclusion, putting a DAO in place in an organisation calls for thorough planning, thinking, and a readiness to experiment. While it may not be the best choice for many firms, those who are ready to take a chance on it stand to gain much from it.

Author

Joshua Kanatt ( Founder & CEO GAMERS TAG )