Can DAOs make the future of work less corporate?

cnbctv18.com:

The current model of earning money has undergone a 360-degree change. Traditional models of corporate employment are rapidly losing relevance, due to several reasons including the growth of remote technology, the rise of the gig economy, and of course, the COVID pandemic.Many companies, for example, now depend on an ecosystem of participants or collaborators, many of whom may not even be on the company’s rolls. For instance, YouTube, Facebook (Meta), Instagram, etc.

depend a lot on content creators and influencers. However, what has not changed yet is that most of these creators still rely on platforms controlled by corporations making the concentration of power asymmetrical.The next step towards this future is Decentralised Autonomous Organisations (DAOs) – where companies are run by an algorithm built on blockchain technology. DAOs allow a diverse group of people to converge, create value, and get compensated.

DAOs are autonomous and governed by smart contracts. At the heart of this entire development lies the simplification of complex business processes.Also Read:Explained: What are crypto airdrops and how do they work?This simplification involves the elimination of intermediaries – the idea at the core of all blockchain technologies. The result is an instantaneous, cost-effective, and highly secure mode of transaction processing.Elimination of the middle order has led to DAOs becoming the digital intermediaries themselves.

Therefore, they can offer greater transparency and the potential to scale operations. Such a system does not need management, governing entities, or supervision. They are self-governing ecosystems and are hence organisations in themselves.How are DAOs revolutionising how we work?DAOs have shifted