Article Summery: Our Perspective

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The Key Features and the Purpose of DAO LLC

A DAO has been modeled on the premise of decentralization where digital assets represent the membership and have rights defined by the operating agreement. That operating agreement can be facilitated autonomously through a series of “Smart Contracts” that operate without any human interaction. While one person or entity must form the DAO, they do not retain sole control over the DAO.

This means the business can run without a traditional business structure. All “members” of the DAO have a say in the actions of the organization.

Key Features:

  • No Leading Member or the Organization has a majority rule
  • Decentralized governance pinned to digital assets and an operating agreement
  • Automated operations through a series of Smart Contracts
  • A departure from the traditional way of running business operations

DAO’s Advantage: It is Inclusive and Transparent.

  • Decentralized Autonomous Organizations (DAO) are more inclusive and responsive to stakeholder input because every member has a say.
  • That means you don’t have to know the right people or have a certain amount of skin in the game (beyond the initial required token purchase) to be included in the decision-making or benefit from the organization’s profits.

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Introducing the BLOCKS DAO

BLOCKS is proud to work closely with Wyoming legislatures to build the first legally registered DAO LLC in the world. 

  • The DAO law also solidifies Wyoming’s reputation as the most crypto-friendly U.S. state.
  • Wyoming is arguably the best location in the United States to register blockchain or digital currency business; Wyoming is encouraging innovation happening within both industries and the legislation coming out of Wyoming reflects that.

BLOCKS Mission

  • The world of business and commerce has continually changed. From barter economies to on-demand services, today all of that is possible due to the rise in new technologies. One technology that is primed to revolutionize the way organizations operate and the way we interact with the world around us is blockchain.

Most entities at their start are managed by a small membership team to start the early success of the organization. In the context of a DAO, member-managed support begins to evolve from a self-managed organization to a progressively decentralized autonomous entity.

At the start, BLOCKS intends to lay the early foundation for the DAO to grow into a fully autonomous, algorithmic entity.

The BLOCKS DAO LLC makes a difference compared with Traditional Organizations because of the following reasons:

  • It is flat and fully democratized.
  • Voting is required by members for any changes to be implemented.
  • Votes tallied, and outcomes were implemented automatically without a trusted intermediary.
  • Services offered are handled automatically in a decentralized manner (for example distribution of philanthropic funds).
  • All activity is transparent and fully public.

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Why Join the DAO?

BLOCKS DAO LLC aims to migrate traditional industries onto the blockchain.

Through a blend of blockchain and non-blockchain partnerships, BLOCKS intends to grow the utility of its digital asset to become a unit of measure for Blockchain. 

BLOCKS’ goal is to become blockchain agnostic and integrate existing applications into blockchain technology using BLOCKS.

BLOCKS welcomes like-minded individuals, entities, and network participants to join in on the mission of setting the standard for a legally registered DAO LLC.

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Future with BLOCKS

DAOs are the most cost-effective and fair business model ever conceived. A true DAO, like BLOCKS, has only a single interest to protect: that of the business itself.

BLOCKS DAO is bringing industry into blockchain with ledger agnostic solutions fueled by the BLOCKS token and governed by the decentralized community of BLOCKS holders. 

We believe decentralization is the future of the industry, and through creating this DAO, we are creating the most widely adaptable infrastructure to bring more industries, companies, and sectors into the blockchain. 

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Read the full article on Benzinga, Yahoo Finance

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Sources:

  1. https://blocks-io.webflow.io/dao#dao-mission 
  2. Pod 1 Native 2 Article       

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Publications:  Benzinga, Yahoo Finance

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The DAO