DAO

Why a decentralized organization?

Decentralization is a core tenet of cryptocurrencies. An organization dedicated to cryptocurrency should reflect the core principle of decentralization. 

Hierarchies of power can be abused. CEOs can steal funds or make decisions that benefit themselves over the organization. Decentralized Autonomous Organizations (DAOs) have no CEOs. Technology platforms now exist to support decentralized organizations.

How does it work?

Members collectively make decisions by casting votes on proposals. No one can change the rules or unlock organization funds without member-voted approval. Votes are cast electronically and securely via the blockchain. Votes via the blockchain are visible, and decisions are transparent. 

What are the benefits?

Electronic voting is more efficient than in-person voting and allows members a greater degree of control over their organization than previously possible. This makes it possible for organizations to operate without centralized authorities. Authorities may underrepresent the interests of some constituencies. All members have a voice and a vote in organization decisions. As a result, DAOs are more inclusive. 

THE CRYPT relies on the Daohaus DAO platform and Moloch code. THE CRYPT gives members valuable experience as early adopters of this transformative collaboration technology.