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What is a DAO?
DAO (acronym) = Decentralized Autonomous Organization
A DAO is a group of people without central management that coordinates over the Internet around a shared set of rules to achieve a common goal.
A DAO is an internet-native entity without central management which is regulated by a set of automatically enforceable rules on a public blockchain, and whose goal is to take on a life of its own and incentivize people to achieve a shared common mission.
Aragon brings more than a general description of DAO - we provide an opinionated technical framework for developing DAOs. At present these technical opinions include
- Ethereum Virtual Machine (EVM) and EVM compatible tools as our public blockchain of choice
- IPFS as our web3 network storage protocol of choice
- Multi-signature wallets as the default
- Freedom to customize the EVM Access Control Lists (ACLs) in a hierarchical and flexible way - software should aspire to reflect how people naturally interact.
For our purposes, you can think of DAOs as flexible, global, and uncensored online organizations.
- Part-time projects with friends or strangers
- Future of work: people working part-time on multiple things for short periods of time
- Temporary pop-up companies
- Companies in authoritarian jurisdictions
- Global, distributed teams