Grab a coffee, sit back and chill with this.
For those who aren’t perfectly clear on what a DAO is (Decentralized Autonomous Organization).
To help I will call on our old friend Satoshi and use a quote that he used to simplify what Bitcoin was in the early days.
‘’it’s a globally distributed database, with additions to the database by consent of the majority’’ - Satoshi Nakamoto
This can translate to the DAO in every sense of the word with a minor adjustment of one word ‘Database’ replaced with ‘Community’.
‘’it’s a globally distributed community, with additions to the community by consent of the majority’’ – Bricktop_One (Sorry Satoshi)
And that’s a DAO in its simplest form of explanation. A DAO is controlled by the majority, not by its creator’s or by any one person or group. DAOs are controlled by the overall opinion of the group with a majority vote needed to change its course, meaning or actions. That means if a governor wants to make a change or decision; they need to come to the community for approval. That idea or change may come from a member of the community, it may come from yourself or even a governor after conversations with community members, but it must be voted upon and a majority must pass for it to become a reality.
‘’You now have a channel for your boundless energy and hope’’
How do DAO’s help us? Why do they mean anything? Why should we care? Let’s take the communities favourite word…. Marketing. So a Marketing DAO gets created, this is now your sub community, your outlet to rage about marketing, the place you come to share your ideas. This is where you voice your opinion and vote on what you want to make happen marketing wise. You now have a channel for your boundless energy and hope. This is how you make your vision heard, where you can discuss, and your opinion now maters because you do have a say in what happens to its future.
‘’Information is cheap, we take it for granted’’
If I ask you a question which you don’t know the answer to, you can conveniently pick up your smart phone, use google and find the answer in seconds. Information is cheap, we take it for granted. Gone are the days of having to go to a library, having to speak to people to find out information. You know… Going outside and leaving your bedroom…
In the case of DAOs we’re in a time that this isn’t really applicable, yes you can find information on DAOs when using google, but I can assure you, this information will likely be outdated and will leave little room for true innovation with this.
‘’The creation of DAOs have made information valuable again’’
If you want to truly innovate with a DAO, governors or participating members of the Community DAO need to talk to other people. Whether this is people from their own or other communities, talk to members of their own or other DAO’s, to find out about new tools to assist. This can help with new ways to innovate and build, it’s a world in which information changes by the day. The Creation of DAOs have made information valuable again where communication with others is a must. It’s exciting seeing how DAOs are going to take over the world. And quiet literally, they will.
We’re are very lucky to be community members of Harmony protocol, from a select few blockchains pushing the boundaries of DAOs, Harmony is ONE Foundation that takes DAOs extremely seriously and they have the conviction to put money on their word.
‘’Harmony holds more than $100M ecosystem fund and is scaling our open development with 100 or more DAOs.’’ - Stephen Tse Harmony’s $1M Hackathon & DAO on Building Bridges | by Stephen Tse | Harmony | Aug, 2021 | Medium
‘’Stephen Tse is not crazy, he’s just extremely ambitious’’
100 DAOs, $100,000,000, this is insane, this is crazy and I have heard of many stories of people saying this is too much, you don’t need this many DAOs, why would you need so many? And unfortunately, the people that are deeply rooted in DAO’s are probably the ones that feel more strongly about this opinion, after seeing the true power of what only one DAO can achieve it’s only right that they believe this. But in the politest response to this, I don’t think they are looking deep enough into the possibilities. A lot of DAOs are built in place of standard organisations, companies or small blockchain projects ect, I think it changes the parameters of the game when you build DAOs for a blockchain that plans to connect the whole blockchain space together in unity and to completely change how we interact with blockchain as a whole.
You have to take a look at how Harmony was built, it wasn’t built for the next 5 or 10 years, it was built to outlive us all and I can assure you, words of 100 years and more have echoed many times around the walls of Harmony HQ.
Using this information and seeing the rate of innovation with blockchain it starts to make sense, how new blockchain technologies come out of the woodwork daily, why wouldn’t there be a need for 100 DAOs or even more in the future. Much like we have a DAO for NFT’s, we have a Wallet DAO much like we have DAOs for different regions of the world, why not Defi DAO, why not cross chain DAOs for major partnerships in which members of each community can form a strong community together and decide how to innovate together and build ontop of those bridges. Stephen Tse is not crazy, he’s just extremely ambitious and I for one am getting firmly strapped in for the ride regardless of where on the rollercoaster I’m sitting.
‘’I felt like I was building a Ferrari but constantly being reminded that when its finished and the key is ready to be turned and that engine fires up, I might not get a chance to drive it.’’
The process of building the foundations for the Harmony Community DAO was a repetitive process, we would learn; start to innovate, then find new information and tools that would make our previous work irrelevant for the most part. And we couldn’t help but have to rinse and repeat, because ourselves, the core team, and other governors I different DAOs wanted to get things right. Once I was on the initial council I quickly realised that the initial council was not the position I wanted to be in, I wanted to be a governor, the reasons being, this is where the real innovation will kick in. I felt like I was building a Ferrari but constantly being reminded that when it’s finished and the key is ready to be turned and that engine fires up, you might not get a chance to drive it. Being part of creating something beautiful, something that will truly change the way the community builds and grows was incredible. Frankly I started to realise I wanted to take it to the next level when I saw the potential.
‘’I’m sure that’s what politics was supposed to be about’’
And this is what it all comes down to, understanding the role, the job will be to simply give you the tools, to give you the platform to voice your opinions allowing you to vote on what you feel Is most important for the expansion and quality of the community.
I’m sure that’s what politics was supposed to be about but I don’t believe they ever got that right. Governors serve the community. Yes, this time, they have to.
‘’It is your DAO from now on’’
Last time I ran for council I quite literally told people to not vote for me, I told them that I might not be the best fit for the council and for everyone to make a very serious decision and take their time in choosing. Honestly I was shocked by the amount of people that had faith in me and got voted me in so thank you if you were one of them. But this time I’m asking to please consider me for a position to serve in this role. I want to be part of real change. I’m extremely passionate about being a part of what’s to come and along the way I want to help you feel more excited about this also. I want to create spaces for you to be able to come at any point and have someone around to discuss the direction of the DAO, not necessarily a governor available 24 hours a day, but like-minded participant of the DAO where the true power is. I will leave this part to you. It is your DAO from now on. It is not Harmony protocols; it is not the foundations, it is yours.
‘’I like to understand my goals, set clear objectives, list what needs to happen to achieve them and get my head down until it has finished.’’
If you give me a chance, I can show you how hard I can work to effectively execute and complete tasks once decisions are brought in and passed. When I work, I like to understand my goals, set clear objectives, list what needs to happen to achieve them and get my head down until it has finished. This is what I will give to you as a governor if the community decide to give me a seat at the table.
One last thing, some of the people on the DAO I shared the council with put a serious amount of energy into its creation also. Please make sure you read through their submissions before making your decisions, there will be legends stepping up from the community, but you should also consider the knowledge that the initial council have gained through the building process also when making your final decisions.
I’m actually amazed YOU read this all the way through, I really appreciate this. Sincerely I do. Regardless what happens I’m seriously excited about what’s about to happen for us all!
If you should happen to have any questions, please feel free to reach out on Twitter or comment below.