Mapping out the DAO Ecosystem and Assessing DAO Autonomy
Vilma Mattila, Prateek Dwivedi, Pratik Gauri, Md Ahbab
With continuously changing operational and business needs of the organizations, Decentralized Autonomous Organizations (DAO) is the current need of the organizations. Centralized Autonomous Organization (CAO) lack transparency and are managed by few efficient managers whereas Decentralized autonomous Organization's (DAO) is novel scalable, self-organizing coordination on the blockchain, controlled by smart contracts and its essential operations are automated agreeing to rules and principles assigned in code without human involvement. Starting an organization with someone that involves funding and money requires a lot of trust in the people in working with. But it’s hard to trust someone that have only ever interacted with on the internet. With DAOs there’s no need to trust anyone else in the group, just the DAO’s code, which is 100% transparent and verifiable by anyone. This opens up so many new opportunities for global collaboration and coordination. This article develops a proposed measure of autonomy for DAOs.
decentralized autonomous organization, decision making, liability.