RE: A New DAO is coming to Hive!

[nathen007]

Good luck with your project but is it possible you could explain what it is in non-dev and non-techie terms please!

A new DAO ? for example....

Not nitpicking here but to get people to adopt this amazing technology, we need to be talking to the lowest common denominator...

Again, best of luck and thanks for thinking about mobile. Design looks great :-)

Comments

[imwatsi]

Thanks for the feedback, much appreciated :)

I will quote from @dan’s Fractally Whitepaper as it explains the concept well. You can download it here

DAO stands for Decentralized Autonomous Organization. The description “decentralized and autonomous” was originally coined by ƒractally’s founder, Daniel Larimer, in 2013, to describe the economics of Bitcoin. Larimer described Bitcoins as “shares” in a decentralized company which issued shares in exchange for hashpower.

A DAO is therefore consensus over information and can never be destroyed unless all copies of the information are destroyed. In the digital age, destroying all copies of anything is next to impossible.

A DAO has no assets that can be seized, no laws it is subject to. A DAO is nothing more than a shared idea and is therefore bulletproof.

The transparency and independence of information is what makes a DAO “autonomous”, but what makes it decentralized? A DAO is decentralized when it continues to function regardless of what any subgroup of people do.

With this explanation, you could consider Hive as a social media DAO and the FreeBeings DAO as a sub-DAO built on Hive to create a community of global participants using the blockchain and the apps built on it to organize and collaborate.

In short, it will be like a home to any Hive user who wants to contribute/participate in building, promoting, onboarding, marketing, etc for the Hive community. A good example is this initiative posted by @crimsonclad. A project for these types of initiatives can be created on FreeSpace for:

• Posting updates on progress
• Running polls to measure community opinion
• Discuss future plans and collaborate in realtime, in Discussion Rooms

We all get the chance to participate with our own tools made for the blockchain, with our reputations, user identities and currency distribution handled by the blockchain.

Let me know if this helps. I can gather more material for you, so feel free to ask.

More details about this initiative will be posted going forward, to get the word out there. We have recently added someone to help with marketing on our team.

[nathen007]

Thank you for such an in-depth reply. Much appreciated and I shall continue to read, learn and follow your progress :-)