State of the DAOs #0 | October 6, 2021

You're reading State of the DAOs, a bi-weekly newsletter published by BanklessDAO. Our goal is to curate high-quality content from the DAO ecosystem and deliver it to you in an easily accessible form. You might be curious about joining a DAO, have already jumped in but feel overwhelmed, or you might even be an active, engaged member of multiple DAOs. Wherever you are on your journey, State of the DAOs cuts through the noise and is your TL;DR for getting started, leveling up, and staying up to date on the world of DAOs.

Author: BanklessDAO Writers Guild (scottyk, frogmonkee, siddhearta)

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What is a DAO: the future of work explained 🤝

Introduction to DAOs

Decentralized Autonomous Organization (DAOs) are digitally native communities that center around a shared mission. DAOs are:

• Decentralized, because they’re community-owned, grassroots-driven, and loosely organized (in contrast to a hierarchical, tightly-structured centralized org like a bureaucratic agency or company).
• Autonomous, because their shared rules and shared treasuries are encoded and automatically enforced on the Ethereum blockchain.
• Organizations, because they’re groups of people that associate and coordinate around specific purposes.

Accordingly, DAOs are a new internet-native way for communities to efficiently and securely coordinate funds and labor. DAOs are simply units of coordination. Any group of individuals can create a DAO to execute their mission with minimal barriers to entry, whether that be to buy and manage a basketball team, create a decentralized Blackrock, or offer services to other DAOs.

https://lh6.googleusercontent.com/fR6o3DPs1Rtb-trYPlS0E3lhw7_QEh_Cm40jfx3i_qN45RC0RgrNwPQ49AQRJiFesr5iab4jAviyWKGmFhcYrk94K1VtgEVdgn1Le85_XJcAZ8khK4G-b8ujyTSAJ6JQlBeRjMKW=s0

Emboldened by a growing sense of collective empowerment, the DAO ecosystem has been surging with activity lately as more and more people discover how these orgs are pointing to new horizons of work in the 21st century.