Altcoin Report - June 2020

Note: this report is accurate as of its publication but some details will change over time. Please check the posted date above.

Cryptocurrency is decentralizing many everyday things we take for granted. Decentralized autonomous organizations, aka DAOs, can organize these efforts into functional, operational groups. “Businesses on the blockchain,” so to speak.

DAOs represent an interesting way to organize people without authority figures. Simply put, everybody uses a token embedded with certain rules that remove the need for coercive leadership. Organizers use these tokens to incentivize and reward behaviors among DAO participants. A blockchain makes sure everybody gets the expected results for their actions. Smart contracts handle workflows and decision-making.

Some consider this a pipe dream.

It’s easy to dismiss most projects in crypto as pipe dreams—but remember, 11 years ago, bitcoin was a pipe dream, too. I’m certain it will take a while for DAOs to catch on, but the groundwork starts now.

I'm fascinated by the idea of a trustless, global workflow for organizations. I can see some potential to insulate workers from the social biases, racism, politics, deceit, and ideological prejudice that's so common in traditional organizations.

As part of a growing movement against government—the “opt-out” movement—I can also see DAOs emerging as a compelling alternative. “Democracy sucks, dictatorships are worse, and everybody’s trying to get one over on me or use me for their own selfish reasons. Screw it, imma join a DAO.”

Today’s recommendation highlights one project intensely focused on making it easy to create and manage DAOs.

Subscribe to Crypto Is Easy Premium to read the rest.