Unstoppable DAOs for web3 disruption

Research output: Chapter in Book/Conference proceedings/Edited volumeConference contributionScientificpeer-review

65 Downloads (Pure)

Abstract

Decentralised Autonomous Organisations (DAOs) have the capability of being a disruptive Web3 technology. Their usage of cryptographically secure distributed ledgers shows promise of replacing existing technical and financial intermediaries. However, this promise has not been fully materialised yet: existing attempts typically rely on centralisation as the required decentralised components do not exist or are not mature enough. We present our Web3 Deployment Experiment around a robust decentralised economy to address these issues. Our economy is unique due to the removal of all centralised components and governance. It is resilient against legal and economic attacks as no individual or organisation can compromise its functioning. We dub this characteristic extreme decentralisation. Similar to BitTorrent and Bitcoin, our extreme decentralisation DAOs carefully avoid single points of failure and are effectively unstoppable. Within our experiment around a music economy, we bypass all intermediaries in finance, technology, and the music industry itself with a direct donation to musicians. We demonstrate the viability of collective decision-making within our decentralised economy and present a set of principles for Web3 DAOs. Our implementation shows that the DAO ecosystem is fully deployable on smartphones, allowing anyone to create a DAO without reliance on central authorities or components.

Original languageEnglish
Title of host publicationDICG 2022 - Proceedings of the 3rd International Workshop on Distributed Infrastructure for the Common Good, Part of Middleware 2022
PublisherAssociation for Computing Machinery (ACM)
Pages37-42
Number of pages6
ISBN (Electronic)978-1-4503-9928-9
DOIs
Publication statusPublished - 2022
Event3rd International Workshop on Distributed Infrastructure for the Common Good, DICG 2022 - Part of Middleware 2022 - Quebec, Canada
Duration: 8 Nov 2022 → …

Publication series

NameDICG 2022 - Proceedings of the 3rd International Workshop on Distributed Infrastructure for the Common Good, Part of Middleware 2022

Conference

Conference3rd International Workshop on Distributed Infrastructure for the Common Good, DICG 2022 - Part of Middleware 2022
Country/TerritoryCanada
CityQuebec
Period8/11/22 → …

Keywords

  • decentralised autonomous organisation
  • decentralised economy
  • trustless infrastructure
  • web3

Fingerprint

Dive into the research topics of 'Unstoppable DAOs for web3 disruption'. Together they form a unique fingerprint.

Cite this