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DAO The Way Part 4

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In part 4, we will take a break on the DAO spectrum and dissect what makes a DAO. 

TL;DR

Humanity is a trust in DAO and helps DAO to build a sustainable community.

DAO = Humanity + Technology

DAO has two components, humanity, and technology. Compared to traditional corporations, which are composed of labor and profit, DAO goes one step further.

Humanity vs. Labor

In DAO, contributors are not a tool. If DAO treats contributors as a tool to reach the goal, it is not a DAO rather it is a corporation that disguises itself as a DAO. Contributors volunteer work on projects and help to build a community that is sustainable. Monetary is not the main goal for them to drive their work toward excellence but a vision that wants to change the current state of the world and make it better.

Humanity Is The Core

Remember humanity when you want to create a DAO. It is an inclusive community to embrace everyone to participate and contribute rather than an exclusive club to screen out people. However, it is also important to have a community rule to keep bad characters away. What makes people devote themselves to work together without trust is humanity that drives everyone toward the same goal. If money is the most powerful tool to gather humans together to accomplish in the 20th century, humanity is a secret source to gather more humans together to accomplish many new challenges in the 21st century.

Four Layers

I mentioned from my previous article about layers of DAO built on. There is an additional layer to make sure your DAO is decentralized yet under special trust circumstances through a security layer. It provides a safe environment for community members to interact and follow ground rules. It also makes contributors receive their compensation safely. 

Workforce

DAO will have a workforce to continue providing services and drive the community forward. If there is not enough work, the community will soon be dissolved. An example is ConstitutionDAO where they achieved their mission whether or not that mission was successfully reached, but their mission has been completed. The data layer provides a pool for experience sharing and exploration ideas to the social layer which provides members to work together. 

Infrastructure

Data and technology can provide the infrastructure of DAO. This infrastructure is a systematic operational node spread out the DAO. Each node works on their own projects yet they carry out the same vision and mission. Nodes will work toward a specialty that later can share their skills to serve the community.

Governance 

The social layer will create governance based on the security layer. There is always a misconception that technology can automatically govern by itself using a voting blockchain protocol. That is only a part of the story only if such protocol has a security layer. No one can dominate the voting powers or buy out the voting powers. Also, such voting powers cannot be diluted through a control entity. Furthermore, such voting power will have to separate from monetary compensation in order to justify its voting purity on specific purposes to pass proposals rather than general purposes to gain profits on.

Check out my another article What You May Expect NFTs After 6 Months and Beyond

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Payments

The security layer guarantees that technology layer with a secure payment system. Members can receive their compensation safely. Of course, members seek to have a fair payment in DAO and believe they should receive desired compensation. However, fairness will depend on the community voting through governance rather than a few making decisions. Otherwise, DAO will run backward into corporations again. 

In Conclusion

To build a DAO, you may think over the above components and more. Since the environment is not trust-based anymore, you will have the struggle to practice old habits in DAOs. Before you make decisions, perhaps ask yourself if such a decision is really a DAO way or just a most efficient way to complete a task. Because the efficient way is not a DAO way in the long term.

Stay tuned for the next article!

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Paraguayan Cryptocurrency Law Shelved After Presidential Veto – Regulation Bitcoin News

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The cryptocurrency and mining law that the Paraguayan Congress passed in June was finally shelved on Dec. 5. The document, which sought to bring order to crypto mining and exchange activities in Paraguay, was ultimately dropped after failing to obtain the votes needed to reject the presidential veto it received.

Paraguayan Crypto Law Dropped After Support Wanes

The Paraguayan cryptocurrency law that was introduced in Congress in 2021 was finally shelved after not receiving the support it needed in the Deputy Chamber. The project, which was vetoed in September by President Mario Abdo, failed to gather the votes needed in order to reject this veto.

The veto had previously been rejected by the Paraguayan senate, which aimed to approve and pass the law without presidential support. The veto had the support of the Commission for Industry, Commerce, Tourism, and Cooperatives; while the Economic and Financial Affairs, and the Fight against Drug Trafficking, Related and Serious Illicit Activities commissions rejected the motion.

Some deputies questioned the veto, stating that the cryptocurrency issue must be studied and regulated due to its importance. In this vein, deputy Sebastian Garcia criticized this outcome, stating that with this move, the cryptocurrency subject will remain in an “absolute informality.”

Reasons for Supporting the Veto Motion

One of the biggest reasons wielded by President Mario Abdo and other deputies to exert a complete veto on this bill has to do with the determinations it makes about the power delivered to cryptocurrency miners. Abdo stated that cryptocurrency mining was an activity featuring “high consumption of electrical energy, but little use of labor.”

Also, the law established limits for the fees that crypto miners pay for the power delivered to their operations. This would clash with the method of determining power tariffs by the National Power Administration (ANDE), an organization that also supported the veto measure after having found several cryptocurrency farms that were connected illegally to the power network.

Deputy Arnaldo Samaniego argued that rejecting the veto motion would put ANDE in a tight spot, facing potential losses of up to $30 million. Deputy Jose Rodriguez also supported this position, explaining that the organization could not operate with losses derived from this law.

This development puts the cryptocurrency regulation efforts in Paraguay back at square one, with legislators having to once more propose and discuss a hypothetical new cryptocurrency law.

What do you think about the final destiny of the cryptocurrency and mining law in Paraguay? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Orbeon Protocol (ORBN) Envisioned To Spring Up Alongside Crypto Majors Like BNB

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Orbeon Protocol (ORBN) skyrockets in presale; could outpace Cronos (CRO) and Monero (XMR)


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Orbeon Protocol (ORBN) and crypto majors are all predicted to ascend in value in 2023. Analysts expect ORBN to shine the brightest and have net returns of up to 60x. Orbeon Protocol is changing the game since its features will enable everyone to participate in early-stage acquisitions. After a rise in demand, ORBN’s presale has reached its third round.

Orbeon Protocol is a unique crowdfunding and venture capital project that aims to change the way crowdfunding and venture capital are usually done. Orbeon Protocol makes it easy for companies and startups looking for funding to connect and build communities.

Orbeon Protocol uses blockchain technology to mint NFTs representing investments based on a business opportunity. By dividing the NFT into smaller pieces, it lowers the barrier to entry so that anyone can buy into startups for as little as $1. This makes it easy for people to invest in new and exciting projects.

This has generated significant interest from both retail and institutional investors. ORBN token has rallied since its presale started, with its current price at $0.0302. Experts believe the token’s value will climb due to its various use cases and the increasing demand for equity-based NFTs.

ORBN token will let people get rewards for participating in the network. Orbeon Protocol has several benefits, such as staking, community governance, access to VIP investor groups, lower trading costs, and early access to funding rounds.

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Binance has consistently been one of the top exchanges in daily trading volume and has a strong reputation in the crypto community. Binance gained significant attention from traders due to its strong performance and wide range of trading options.

BNB is the native token of the Binance cryptocurrency exchange. The token is used to pay transaction fees on the Binance platform and can be traded on the exchange like any other cryptocurrency.

Experts believe that Binance’s strong performance and focus on customer experience will continue to drive the demand for the BNB token in 2023. The current price of BNB is $288.5, and many believe it will continue to rise in value as more and more users turn to Binance for their cryptocurrency trading needs.

Find Out More About The Orbeon Protocol Presale

Website: https://orbeonprotocol.com/

Presale: https://presale.orbeonprotocol.com/register 

Telegram: https://t.me/OrbeonProtocol


Disclaimer: This is a sponsored article, and views in it do not represent those of, nor should they be attributed to, ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or crypto projects mentioned in this piece; nor can this article be regarded as investment advice.



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Starbucks Launches Beta of Web3 ‘Odyssey’ Loyalty Program

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Starbucks Launches Beta of Web3 'Odyssey' Loyalty Program



The popular coffee chain opened up the Web3 extension to its Starbucks Rewards program to a “small group of waitlist members,” including employees and customers, allowing them to engage in interactive “Journeys” that earn “Journey Stamps” in the form of Polygon-based NFTs. In addition, users also get “Odyssey Points” that will open access to new benefits and experiences in the future, including virtual espresso martini-making classes, exclusive events and trips to Starbucks roasteries and coffee farms.



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