In April 2016 the world changed. A project based on computer code with no corporate or legal structure, raised $140m in a few days and became one of the largest crowd funds in history.
The project was called 'The DAO', a piece of code run on the Ethereum blockchain that formed a 'stateless organisation' - an organisation that was not hosted by any nation state, but could operate within them all. An organisation that was made entirely within a digital jurisdiction.
The DAO forged an exciting new way of bringing capital together to form a new type of human organisation. A democratic organisation with no owner and operated only by participation of the rules and incentives programmed into it.
The most simple DAO we can use as an example is Bitcoin. Bitcoin has no leadership team, CEO or company headquarters, but it operates as a project with millions of participants, each with different incentives to create, update and operate the global Bitcoin system.
These incentives are coded into the Bitcoin system. In exactly the same way, rules and incentives can be encoded into a DAO to mobilise groups to encouraging them to assist in fulfilling a particular goal.
How can it help me
If you are a big thinker living outside a capital city, we can help you realise your future. Starting a DAO can help you organise your vision into a global entity with financial capital and access to formidable body of wisdom.
Typically, areas of the world that are outside capital cities have problems with raising capital for startups, disruptive projects and big, moonshot ideas. But, almost three quarters of the world's population lives in urban settlements of less than 500,000 people.
Cryptocurrency is a trillion dollar, global financial system. DAO's are completely native to that system and can help anyone, anywhere raise a significant amount of financial capital to realise their ambitions.
But financial capital is only one part of the equation for making moonshots happen. In our experience, the best capital model consists of:
- Knowledge capital (wisdom, experience and learning opportunities)
- Human capital (expertise, leadership and valuable connections)
- Financial capital (investment, funding and grants)
It works together by harnessing wisdom from experienced leaders in a wealth of disciplines, enabling a deep and far-reaching understanding of key issues and best practices. DOA's can help discover the people needed that can make the big, crazy ideas a reality – the experts, the decision makers and the can-doers, then providing the financial capital to make projects happen.
We believe DAO's can organise humans in ways that never before possible and create incredible movements and transformations. Most importantly, they cannot be shut down or censored, they can be totally transparent and completely incorruptible. They are powerful in many ways, which is why we are setting the best practices for creating an organisational DAO and only create DAO's that are for the good of humanity.
If you are a visionary and want to create the future, we welcome you as part of our community and invite you to submit a request to form a DAO.