DAOs in society
Decentralised Autonomous Organisations are a large group of investors, companies and entrepreneurs coming together to have their business workflow automated by smart contracts. This allows people to invest in each other and receive governance tokens giving participants in the DAO the right to say how it is run. Once a vote is passed the action becomes completely automated, with procession happening instantaneously rather than days or weeks as a result of manual processing.
Using automated governance allows for a fair tamper proof system which prevents corruption in government elections as well as emotionally weighted decisions fueled by nepotism in large organisations. This would not mean large business owners and politicians are disabled from making decisions thus being slaves to their technological overloads. In contrast, DAOs enable new decisions made by humans to be processed automatically and seamlessly integrated into society, therefore becoming a tamper proof much more effective strategy to run a society.
This also allows shareholders to have access to the governing principles of any company stake holders are willing to invest in, this meaning that the rules, regulations and automated contracts which make the company run are made public on the blockchain used by the company therefore enabling investors to fully understand the target market, customer base as well as day to day operations of the organisation.
Use Cases
There are many use cases for DAOs one of the most simple being a vending machine, for instance stock and money within current vending machines have to be manually refilled in order to function and serve their purpose, more interestingly the stock then has to be ordered by the company who owns the vending machine. This means that a large amount of time and resources go towards filling up a vending machine, however this can be avoided and made more efficient with DAOs.
For example, making the vending machine autonomous would allow for the machine itself to order stocks itself to then be delivered to it without any human intervention, and the way amazon are going this could be delivered by a drone. In addition, the vending machine could proceed to pay for the stock itself via the means of the internet, the payment would be connected to the company bank account in order for the vendor to execute the transaction. This is not a DAO as such but shows how smart contracts can be used to automate processes which are laborious and repetitive.
Investing
With everything going autonomous it begs the question, “How to humans fit it?”, this can answered from an economical perspective as autonomous companies using a DAO framework will allow stake holders to hold a large share within the company is exchange for tokens which in turn represents their voting rights within the company. This would allow anyone who holds a stake to have the right to vote on the direction of the DAO getting rid of top down pyramid systems and creating a more open collective way of running companies.
In essence humans will become the decision makers, idea generators and innovators of the future with the heavy lifting being done mostly by autonomous frameworks. This allows people to start large scale companies very cheaply and effectively enabling stake holders to have full control and provide services for much cheaper as there will be zero labor costs.
Unemployment
This autonomous feature being installed in every company would create mass unemployment and the need for large scale global up skilling, this would create a rise of educated professionals who can master multiple disciplines, in addition to keep up with the advancement of AI humans would have to upgrade themselves with Neuralink chips implanted in brains to give access to the internet just by thinking.
So I leave you with this video from Neuralink showing the technology capable of boosting intelligence within humans for ever.
