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What if you could form your own organisation with people from across the world, make your own rules, and execute them autonomously without any external interference? DAO or Decentralised Autonomous Organisation lets you do just that. DAO can be defined as a transparent and autonomous community-based entity driven by blockchain-powered smart contracts. Simply put, it lets organisations run their entire business with an open governance framework.
For years, we have lived in a world where decision-making has been centralised. This means leaders, board members, CEOs make decisions for us. But the new Web3 idea making waves, DAO, allows communities, corporations, or any type of collective organisation to be administered and governed without centralised leadership, through blockchain. Their actions are represented by some form of blockchain transaction. The rules are embedded into the code, so there aren’t any bureaucracy or hierarchy hurdles.
The rise of DAO in the past couple of years signifies the ever-expanding scope of blockchain, which is quickly moving beyond smart contract driven peer-2-peer platforms. Today, it is potent enough to drive a whole organisation. DAOs are currently picking up steam with many creators and brands joining the bandwagon, and a company standing by them is . A leading DAO development company, Antier offers reliable expertise to organisations looking to build a DAO.
More and more companies are today using blockchain technology, making their management more decentralised. To that end, the decision making becomes arithmetic and not opinionated. But as the number of users and funds in a DAO grows, the community demands a level of structure and operational execution to assist the DAO in operating. This is where companies like Antier make a difference – DAO development is a complex procedure that attracts significant skills, resources, and manpower. Hiring a leading DAO development company like Antier is the best approach to get a hand over your own DAO solution.
Equipped with seasoned blockchain engineers and subject matter experts, Antier provides a comprehensive solution – including utility token development, governance token development, smart contract development – to deploy a DAO as per your objectives. Their DAO development offers 100 percent transparent transactions, mandatory voting for implementing new changes, and standardised handling of services.
With Antier, organisations looking to deploy DAO get numerous benefits such as:
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Compared to a traditional organisation, DAOs enable bottom-up decision making, accurate decisions, trust backed by cryptocurrency and blockchain technology, equal voting rights across the organisation, and utmost transparency. It is completely global and has low operational costs.
There are many categories a DAO can fall in, such as Operating Systems, Protocol DAOs, Investment DAOs, Grant DAO, Service DAO, Philanthropy DAO, Product DAO, Media DAO and more. The benefit of being decentralised ensures that more people are engaged in the DAO leading to more participation.
Here are some key benefits:
Currently, DAOs are being used for purposes such as investment, charity, fundraising, borrowing, or buying NFTs, but many claim that DAOs can totally replace the way companies operate. As per reports, the number of participants in DAOs grew in 2021 from 13,000 to 1.7 million people around the world and entrepreneurs are using DAOs to fundraise globally and hand over ownership to their communities. According to the analytics service DeepDAO, the total combined value of DAO treasuries increased roughly 40-fold (from $380 million to $16 billion) from January to September 2021.
In the future, DAOs will only continue to go up the upward trajectory as it leads companies to go for a user-first approach, collective decision making, and automated governance, pointing towards better outcomes. Being invulnerable to attacks, DAOs offer a safe place for collaboration and funding.
For more information on Antier’s DAO Development Services,