What are DAOs? – 101: building decentralized Organizations

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DAOs are the engine powering Web 3.0 like:

  • DeFi
  • Dapps and
  • NFT projects.

    Still, what are they? This is how you explain DAOs to your Friends and Family – without overwhelming them. DAOs
    101: building decentralized Organizations

0. What are DAOs?
The easiest explanation is that: Decentralized Autonomous Organizations (DAOs), are self-governing organizations that enable groups of people to work towards a mutual goal.

But let’s see what this means..

  1. Defining DAOs

What it means is that DAOs are:

Decentralized = online, global
Autonomous = self-governing – bylaws written in code
Organization = people working towards common goals and shared values

Now, let’s deconstruct these buzzwordsโ€ฆ

แ€€แ€ผแ€ฑแ€ฌแ€บแ€Šแ€ฌ แ€แ€ฝแ€ฑแ€†แ€ญแ€ฏแ€แ€ฌ แ€กแ€ฑแ€ฌแ€€แ€บ แ€•แ€ผแ€แ€ฒแ€ท แ€Ÿแ€ฌแ€แ€ฝแ€ฑแ€–แ€ผแ€…แ€บแ€แ€šแ€บแ‹ แ€€แ€œแ€…แ€บแ€•แ€ผแ€ฎแ€ธ แ€žแ€ฐแ€แ€ญแ€ฏแ€ท website แ€™แ€พแ€ฌ แ minute แ€œแ€ฑแ€ฌแ€€แ€บแ€”แ€ฑ แ€•แ€ฑแ€ธแ€•แ€ซ


แ€€แ€ผแ€ฑแ€ฌแ€บแ€Šแ€ฌ แ€แ€ฝแ€ฑแ€†แ€ญแ€ฏแ€แ€ฌ แ€กแ€ฑแ€ฌแ€€แ€บ แ€•แ€ผแ€แ€ฒแ€ท แ€Ÿแ€ฌแ€แ€ฝแ€ฑแ€–แ€ผแ€…แ€บแ€แ€šแ€บแ‹ แ€€แ€œแ€…แ€บแ€•แ€ผแ€ฎแ€ธ แ€žแ€ฐแ€แ€ญแ€ฏแ€ท website แ€™แ€พแ€ฌ แ minute แ€œแ€ฑแ€ฌแ€€แ€บแ€”แ€ฑ แ€•แ€ฑแ€ธแ€•แ€ซ