Simply put, DAOstack is an all new “operating system” that can be used for the governance of DAOs. Though the use of this platform, open-source creators from all over the world can work together and jointly create a wide array of DApps (while distributing ‘individual ownership’ within the product to contributors of value). In addition to all of this, DAO Stack can also be used by crowd curators to work together and manage ranking platforms that can then be used within the travel sector, advisory market etc.
Registered in Gibraltar, the team managed to raise nearly $8 000 000 during the duration of the ICO.
Key Features:
DAOs represent a potential paradigm shift. Decentralized networks such as Bitcoin may not have company or leader to go to for decisions. How then will decisions be made to benefit all network participants? With so many new decentralized projects out there, there will certainly be as many permutations of governance as there are with real world companies. The accelerated rate of governance experimentation is certainly going to be a hot topic in crypto for years to come.
The DAO may radically reduce coordination costs. More importantly, it might solve the problem of power settling into the hands of the few. Many thought the Internet was going to be the might decentralizing force to redistribute value to the masses. It’s clear the internet disseminates information worldwide (or most of the world at least), but the value and wealth of the internet has accrued to a few well run companies (aka centralized organizations).
DAOStack aims to be the WordPress for DAOs. Simply using an off-the-shelf DAO component will allow future projects to avoid reinventing the wheel. I mentioned in my post The Multi-Protocol World that future applications will simply pick and choose which baseline protocol layer to use as their “operating system”. If given the opportunity to do the same with governance I think they’d seriously consider doing the same.
One major strength of the DAOstack ICO – namely, its scope – could also prove to be the project’s Achilles heel. We have little track record for successful decentralized governance on a wider scale anywhere in the world (Wikipedia and Bitcoin come to mind). To drive adoption for DAOstack, the team will need to win over major players both within and beyond the blockchain space. But whether decentralized governance will actually both function and flourish remains a completely open question.
The DAOstack ICO is a promising and very exciting project with a credible team who’ve reached an impressive stage of product development. However, in our assessment, we must distinguish between the value proposition DAOstack holds for organizations and the value proposition for potential investors.
