Ideas are cheap — most of them not worth a second thought. Approaching a short Easter break in times of Coronavirus — what could be better than brainstorming on some ideas lying around. That said, I invite you to collaborate and comment on this brain fodder: DAO — Brainstorming On Decentralised Autonomous Organisations.
A DAO is a Decentralised Autonomous Organisation — a network comprised of several, if not many, individual entities — or: nodes — that have agreed on working together on some specific purpose. The basis for their work is a set of rules, a so-called governance model. This governance model not only defines the rules and processes of the DAO but also comes with an implemented incentivization scheme that incentivizes each node to actively participate in the network.
DAO — Brainstorming On Decentralised Autonomous Organisations
As of 2020, there are several blockchain protocols providing software and governance to create DAOs. My goal for today is to get your feedback on the below mentioned specific DAO ideas — or: applications if you will.
Decentralised Autonomous Request for Tender
- There is a Request for Tender RFT process
- A smart contract defines the complete RFT process
- All participants are provided with user interfaces for input and output of their respective data
- Approval criteria for each step of the process are programmed in the smart contract that automatically decides about reaching the next step for each participant
- Financial transactions due to individual steps of the process are automatically triggered and payments are sent to the participants
- After the final round, the winner is selected based on the approval rates received in each round
- The winner receives the payment and a briefing for the first milestone
Decentralised Autonomous Communications
- There are content owners with the need to communicate their contents
- Content owners use the DACOMMS to decentralize their communications
- Content owners publish a job; i.e. content they want to be communicated, incl. a budget (metrics-based, e.g.number of redirected visitors, leads, etc.)
- Potential communicators apply for this job by providing their credentials; i.e. brand, website, Online/Social Media reach (based on public metrics provided by respective services)
- Communicators are selected based on the criteria programmed in the smart contract initially provided by the content owner
- The job is opened to every communicator meeting the requirements described in the smart contract
- Communicators start with their work and report the results back to the smart contract
- The job ends as soon as the budget is consumed
- Communicators automatically receive payments according to their performances
These are two very basic ideas around DAOs. I have not thought them through in detail, yet. Please tell me what you think about these DAO ideas. Do you feel that I better should forget about them, or do you think both ideas or one of them should be worked on? Then let’s collaborate!
Thank you for your feedback!