It is with trepidation and excitement that I will be blogging on my journey into Web3 and DAOs (aka Decentralized Autonomous Organizations). Trepidation as this will be my first blog and excitement because this area is fizzing with innovation and novel ideas.
Speaking for myself, this is very much a “new and complex” space. My intent is to share my journey in this blog. This will include my learnings, experiences, failures and (hopefully!) successes.
I am not a software developer. I have dabbled in blockchain and have a base understanding but am certainly not technical in this area. I am a curious explorer of no-code and low-code tech as well as AI.
I know enough to have created a wallet, procured a “.eth” domain and have minted an NFT (some of the basics you may also need if you are to follow this path - more to come on those).
I will be looking to see if I can “summon”, configure, and run a DAO without a single line of code being written.
During the last 18 months, I have been working on a deep research project, which is addressing how we could create a more democratised world within a 30-to-50-year time horizon. Using the abstract concepts of democratised design, development, and deployment I have uncovered many potential trends, scenarios, technologies, and ecosystems that could play a role in how we live, consume, support each other, move, and build communities to distribute opportunity more equally.
My work over the last years has led me down a thousand different paths. One noteworthy trend is the use of DAOs (Decentralized Autonomous Organisations) to democratise the reward for contribution to projects.
My current (clumsy) interpretation of DAO’s is to think of them as a digital co-op to enable collaboration and fairly distribute value created in a product / service / anything, in proportion to the contributions of the individuals involved.
Some more informed and experienced definitions can be found here:
Beyond the evolution of Web3 and mainstream adoption of blockchain tech, what we learn from the early phases of development of DAO’s has the potential to significantly disrupt and redefine:
One paradox right now is that access to the creation of and participation in DAO’s is still in its infancy of decentralisation. There is incredible work being done to address this, however the root of this concept is firmly planted in the blockchain development space.
As such DAOs have the unintended consequence of being (arguably) exclusively accessible to that community. [Just for context, this is being written early March 2022, with the acknowledgement that the number of participants in DAOs is ~1 million].
I have some initial goals:
Hope to have you with me on this journey!