Communities organized around a shared set of rules enforced on the blockchain through a smart contract.
Inherently transparent, every aspect of the org is public.
The most infamous DAO, The DAO, was a decentralized VC fund. Eventually raised $150M but had $60M hacked, leaving a negative impression/skepticism around DAOs for a while.
Stable employment is possible through DAOs, Empty Set Dollar DAO is paying a $180k salary to their community manager
# Potential Issues
- How does this work for people who want to keep things under NDA/keep IP safe?
- Not everything can be codified, what happens in vaugely defined/legal gray zones?
- Often times no legal protections outside the rules governed by the smart contracts facilitating the DAO
- Tragedy of the Commons: how do we ensure all members of the DAO have stake and participate?
- How/can we enforce who joins a DAO? Would this lead to lower quality discussion and higher noise due to lack of value alignment and group limits?