History has many examples of countries transitioning from monarchies to democracies. Now, we are seeing a similar transition in companies. From being owned by a small group of people, a Decentralized Autonomous Organization (DAO) is akin to a small digital democracy, where voting is used to make decisions. People who vote are the ones holding tokens in the organization.
DAOs are gaining popularity, especially in the blockchain and crypto communities. How fast they grow is anyone’s guess but we firmly believe that DAOS are here to stay, and as such, people must be educated on them; a belief we share with you, the reader.
To help you do interact and be ready for DAOs, we at SlideTeam, have created a Comprehensive Training Module on Blockchain Technology for Decentralized Autonomous Organization (DAO). It is a hands-on PPT Deck, which is content-ready and editable to give flexibility to your training sessions and save you time. The trainer can access the module with a click here. Following are some of the benefits of this training:
- Understanding Decentralized Governance: DAOs are designed to be governed in a decentralized manner, with decision-making power distributed among token holders. Digging deep into DAOs, you also gain a better understanding of how decentralized governance works and how it can be used to create more democratic and transparent organizations.
- Learning About Smart Contracts: DAOs are built on blockchain technology, and rely on smart contracts to automate decision-making and enforce rules. By training on DAOs, you can gain experience working with smart contracts and learn how to create and deploy them.
- Exploring New Business Models: DAOs offer a new way of organizing and funding projects. These create innovative business models that are more efficient and transparent than traditional ones. After this training session on DAOs, you are equipped to apply them in your own work.
- Participating in Community Governance: Many DAOs are designed to be run by their community of token holders. They vote on proposals and make decisions about how the organization should be run. With DAO training, learn how to participate in community governance and have a say in the organization’s future.
Session I: Overview of DAO
DAO is a more obscure, but relevant concept within the blockchain universe. We begin this training with its overview; spending some time evaluating the nature of DAOs before moving on to their types namely, Automated Market Maker, Grant DAOs, Social DAOS, Collector DAOs, Venture DAOs, and Entertainment DAOs. Can the trainees venture a guess on what each type represents? The trainee must have a discussion before explaining them. Once done, we move on to the next session.
Session II: Working of DAO
Now that the trainees have learnt WHAT a DAO is, it’s time to understand HOW it works. We present this information in a single slide in a simplified form. The idea is to generate interest from trainees, who might find themselves not much enthused toward technology.
With eight salient points, the DAO operation is delivered in an easy-to-understand manner which helps the audience retain the information better. The authority, the code, the tokens, etc., all are discussed.
Session III: Traditional Organization Vs DAO Structure
It is important to put things in context to aid in understanding what this new-age organization is. Comparison is an excellent method to put things in perspective and so, we compare traditional organizations with DAOs to understand them better and illustrate their uniqueness, and utility.
We make this comparison in terms of the organization architecture as well as a tabular comparison against parameters like trust, cost, experience, etc.
DAO seems like the winner. Not that it has any serious competition to deal with!
Session IV: Characteristics of DAO
With this understanding of the DAO under their belts, the trainees can come to the dais and explain the concept in their words. This will help everyone solidify their knowledge and learn what they might have missed.
The understanding of DAO is incomplete without a discussion on its four amazing characteristics. These are Decentralization, Transparency, Democracy, and Automation. The trainees probably know these characteristics in a general setting, but we explain them in the context of DAOs in the slides that follow. Download the training module for these explanations.
Session V: Advantages of DAO
“And so?” While no one will voice this concern, a few in the audience might have this thought, while you showcase how cool DAOs are. To answer this unasked question, we spend some time with a slide to present its advantages. Some of them are the solving management issues (everyone’s favorite), low error percentage, transparency, etc.
Session VI: Disadvantages of DAO
“Well, it can’t all be sunshine and rainbows, can it?” This is another concern in the minds of the hallful of your audience. They are correct, DAO comes with its own disadvantages which will be covered in a slide to deliver a comprehensive education on this concept. Some of these include hierarchy, voting length, potential legal concerns, etc.
An explanation of these advantages and disadvantages is left for the trainer as an exercise.
Session VII: Popular DAOs
DAOs or this training session do NOT exist as a preparation for the future, but of the present. In this part of the training, we present some popular established DAOs, namely, Uniswap, BitDAO, Dash, Ethereum Blockchain, etc.
A one-line description of these DAOs is also provided within the same slide. Download the module to access these.
Session VIII: Case Study: Golf Course Creation
Your golf sessions are about to become ever more fun, adding to the beautiful green grounds and clean white clothes. In this case study, a person has created a DAO for the golf course he attends.
Why? Well, he has done it to raise funds. But that’s not all.
As his organization is decentralized, he has given all members equal voting rights for any decision the organization makes. He has built tiers into the DAO, to give varies donations different levels of influence on the organization’s operations. Sounds fun, doesn’t it?
Maybe the trainees can build their own DAOs!
With this practical application of DAO, we end the training with some time spent of revising what has been learnt so far, some quick tests. Finally, the trainer also throws open the floor for questions and comments.
We hope this training empowers your audience to adapt to a DAO at a fast pace and contribute meaningfully to this change as well.
FAQs on Blockchain Technology for DAOs
What blockchain to use for DAO?
The choice of blockchain for a DAO depends on the intended use case, scalability requirements, transaction costs, and security needs. Ethereum is currently the most widely used blockchain for DAOs due to its programmability, large developer community, and extensive ecosystem of tools and applications. However, blockchains such as Polkadot, Binance Smart Chain, and Solana are also gaining popularity for their high transaction throughput and lower fees.
Does DAO need blockchain?
Yes, DAOs rely on blockchain technology to function properly. Blockchains provide a secure, decentralized ledger that enables trustless collaboration and governance among DAO members. Smart contracts, which are self-executing programs that run on blockchains, allow DAOs to automate decision-making processes and enforce rules without the need for intermediaries. Without a blockchain, a DAO would be centralized and susceptible to manipulation by a single entity.
How to implement DAO in blockchain?
To implement a DAO on a blockchain, one needs to write a smart contract that defines the rules and governance structure of the organization. This contract is then deployed to the blockchain, where it can be accessed and executed by anyone with an internet connection. Members of the DAO can interact with the smart contract using a Web 3-enabled wallet such as Metamask or MyEtherWallet. The contract can be programmed to facilitate voting, fund management, membership management, and other functions. A range of blockchain development tools, such as Truffle and Hardhat, can be used to create and deploy DAO smart contracts.
Is DAO part of Web 3.0?
Yes, DAOs are considered a fundamental component of Web 3.0. Web 3.0, also known as the decentralized web, refers to the next generation of the internet that is built on decentralized technologies such as blockchain and peer-to-peer networking. Web 3.0 aims to create a more open, transparent, and democratic internet that empowers users and reduces the need for intermediaries.
DAOs are a key aspect of Web 3.0 because they enable decentralized decision-making and governance without the need for traditional intermediaries such as corporations or governments. They allow individuals to come together and collaboratively manage resources and make decisions through smart contracts and voting mechanisms. Therefore, DAOs play an important role in realizing the vision of a more decentralized and democratic Web 3.0 ecosystem.