We are witnessing the moment just before the wave crashes. Web 3.0 is going to change the way things work sooner than later. But before getting there, we have to first comprehend the technological frontiers we are pushing. It is imperative that the luminous leaders of tomorrow (ahem, you!); Understand the world they are going to be building in!
Entering the stage: Decentralized Autonomous Organizations
As you read this, thousands of Decentralized Autonomous Organizations are emerging on the blockchain. But not every single one of those is going to make it to the other end! Having the insight to support the right initiatives happens through understanding the true nature of these organizations!
Based on the smart contract technology implemented in the Ethereum Network, Decentralized Autonomous Organizations are; A government structure designed to ensure a transparent, legitimate, and democratic environment for investment and participation.
This is ensured by encoding the laws of the DAO directly into the DNA (the literal code that’s going up to the blockchain) of the Organization. This way, the rules of the game are secured, clearly delimited and available for anyone with eyes to see! DAO’s offer an unparalleled level of transparency, taking the responsibility and autonomy back to the user.
Understanding the risk in Decentralized Autonomous Organizations
While all this sounds really exciting and promising, they are not without danger. Because the road to hell is paved with good intentions when dealing with Decentralized Autonomous Organizations; You’re going to have to be very smart and cunning before deciding to trust them with your money!
In Episode 10: What Is a DAO of ‘Alchemize Your Life’ you’ll get to learn; The technology behind these kinds of organizations. How do they differentiate from the traditional (legacy) way of doing things? And, the unlimited sea of possibilities they represent for the future of mankind!
Also, you’ll get to learn the difference (and the parallels) of these structures with your traditional, brick-and-mortar Silicon Valley, what are the factors you should be considered before investing your money in a DAO, and how this differs from investing in cryptocurrencies!
This is a knowledge-packed episode so buckle up because we are going back to school!
And we can’t wait to answer your questions, so drop them in the comments down below and make sure to join us at The Prysm Institute Of Quantum Alchemy!
We hope to see you there!
Until the next episode,
Democratic love and transparent light,
Sophie, Cian & The Prysm Team