Jul 31, 2022
In General Discussion
Using this hierarchy does not exist. Everyone is just a member of the organization, based on the structure, with equal rights and voting rights. And the person who built the DAO can leave the organization at any time, and everyone else can continue to perform their tasks. The real power lies in the smart contracts encoded in them. With smart contracts, companies can cut red tape. Smart contracts are for triggers and actions: if you can, you can. In other words, if it happens, it will happen. But it's not just big companies that can benefit from these smart deals. Small businesses can also save time and money by reducing intermediaries, red tape and transaction fees. When the work is done, the money is credited to their wallet without waiting for someone to read and approve the bill or the bank will process the fee. One of the most beautiful things about the relationship between job email list NFTs and DAOs is that one can help shape the other. Both NFTs and DAOs are based on smart contracts, but they can also be created together. You can code your NFT smart contract to help fund your DAO, so every time an NFT is sold, a portion of the revenue is automatically sent to the DAO. These funds help it achieve one of its mission, roadmap goals, or start a new project, depending on other smart contracts. However, not every company has to consider NFTs or DAOs. They may not be relevant to your business model.Before you start, take a moment to think about what a DAO can do for your industry and your vision or mission for what the DAO will accomplish. Important Considerations When Forming a DAO Look carefully at your reasons first. Why did you create a DAO and what does it mean for your industry? What mission do you want to accomplish with DAO? As with almost every business decision you make, your reason is ultimately the passion that drives it all. But in the case of DAOs, it also becomes a force through which you can find like-minded people who want to understand your vision and finish.