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Warning: whatever you read is what I learnt about DAO stacks after reading about it on the internet.
What is DAO stack ?
Firstly, the acronym DAO stands for Decentralized Autonomous Organization. So back to the question, DAO stack is a system that has been created for further creation of decentralized apps.
DAO stack is the system that allows the users to apply the blockchain system into business or a system which is operated by any centralised organization or group.
Here's also an introduction video below;
Disclaimer: @yahuzahope do not claim right of ownership to the above video.
What are DAO stack tools?
DAO stack tools have been made to create and apply DAO which has complex processes and frameworks easily into different organizations or business.
Alchemy: This is the user interface in DAO stack which is used for the creation of DApps i.e Alchemy in this case. A developer needs the user interface for designing any app.
Arc.js: This is API layer in DAO stack, it helps to integrate DApps with any website or organization.
Arc.Hives: It is the shared registry in DAO stack which enhances the network effect and data of DApps and DAOs.
Arc: Arc is the modular solidity which is used for easy deployment, upgrade and configuration of DAO into any organization.
DAO stack Use Cases
It has infinite use cases like collaboration in which it allow different users with different ideas to come together and share ideas together to create something extraordinary, also allows users to own or manage funds in form of tokens by themselves.
How can DAOs improve the cost, efficiency and structure of organizations?
Going "AUTOMATIC" has been one of the fastest advancing technology in as of recent, because the technology allows us to do more work with less effort. Improvements in artificial intelligence e.g Siri in Iphone as I have seen is a hell of a technology and also robots. Usage of manual cars have also reduce due to the creation of automated cars, so let's say all everyone wants now is something automatic.
In the currency aspect, addition of new systems like blockchain which is the backbone of cryptocurrency. Even armed robbers now demand money in form of crypto because it cannot be traced to them when carefully handled.
Organizations have become complicated, mostly because of we humans, well you can't expect us to be so perfect, we ain't robots.
With DAOs, organizations can reduce complications, if not all, of their complex processes and create advanced systems that improve many frameworks of running a business while also reducing costs. More importantly, adoption of DAOs technologies will change the way we do business.
According to DAO stack CEO Matan Field,
“There is already a movement toward decentralization of opinion and coordination…but as long as the power is at the hands of platform owners and concentrated, there is unavoidable conflict of interest, and a single point of failure.”
Theoretically, most organizations are self-interested, and those interests aren’t always in the best interests of all stakeholders. DAOs help reduces these conflicts by spreading responsibility for the organization’s success to every contributing member.
Let's just look at what we can see, DAOs reduce operational costs drastically. Without the need for large management suites and large numbers of business processes, the major costs are reduced to paying employees and technology upkeep.
DAO stack GEN token
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DAO stack runs using GEN. GEN is the token of the DAO stack just in the case of SBD and steemit. Any operation in DAO stack will require the spending or usage of GEN. GEN will be distributed to user who contribute to the framework.
DAO stack partners
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For more information and inquiries.
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