Ulex Applications: DAOstack (Part 4)

The team over at Decentranet is launching theDAOstack token sale. SSF does not advertise such sales — this is a basic examination of the technology’s application to Ulex.

Why should you care aboutDAOstack?

DAOs (as many readers are aware) are distributed autonomous organisations. This is essentially a cooperative enterprise run by code. This properly aligns incentives and brings community involvement in a way to ensure successful projects.

DAOs are all the rage in financial and computer circles!

DAOstack enables the more or less tech savvy to create their own DAO — which holds incredible potential for start-ups, communities and organisations…and startup societies. As WordPress, Wix and Squarespace allowed for anyone to easily create websites and share their content with the world,DAOstack’s flexible smart contract frameworks, friendly javascript developer environment, and intuitive user interface allow anyone to create or participate in a DAO.

The problem being solved byDAOstack

Currently, organizations must grapple with a variety of factors to effectively organize. Accomplishing even simple goals can seem daunting because of significant obstacles such as mistrust between members, disparate geographical locations, bureaucracy bottlenecks, and local government rules.

Example application

If you had a project organized on DAOstack that wanted to engage in community service, you would put up a proposal to the community authority (such as a city hall, HOA, etc.) The proposal would be voted on and, if approved, members could then vote to send community resources to those proposing the action to get the job done. Proof and evidence of completion are provided to the voters and funds are released. The DAO reputation of the participants can be improved based on adhering to guidelines.

Ulex Development Application

The creation of Ulex may be just one such early win that the DAOstack can put under its belt. Current plans are to have Ulex be developed in a decentralised way with smart incentives, allowing for various forks and only minimal oversight to ensure project advancement. A DAO is an architecture that could very well be key to such an open-source development.

Few if any legal tech products have ever been produced by a DAO, and being first in such an undertaking would be no mean feat. The developers of any project are approved by the community, complete the work, and return with results to the voters. The community could then vote to approve the acceptance of the products delivered and release the token bounties as agreed upon.

The developers reputation can be maintained by delivering on projects as they agreed to the community (which voted for the work to do be done and payment to be disbursed). This allows for organizations from around the world to organize and empower one another.

Numerous studies explain the various challenges of coordinating large groups. These include motivation cost (aka “social loafing”),relational loss (you feel less connected), and coordination cost (keeping three people up to speed is a lot cheaper than keeping 3,000 people up tospeed).

Similarities

DAOstack and Ulex will both feature fully open,modular and upgradable architecture that provides a general kernel for different kinds of digital social enforcement and governance. Just asSquarespace allowed for anyone to create websites and share their content,anybody with a cursory knowledge of agreements and technologies will be able to create a DAO that may even use Ulex as a dispute resolution rule book where smart contracts prove wanting.

Too Long, Didn’t Read

1.  DAOstack helps you create distributed autonomous organisations, like Squarespace helps you design websites.

2.  Ulex can be created in a DAOstack-sponsored DAO.

3.  In turn, other DAOs can run the now completed Ulex for dispute resolution.

Further Reading

DAOstackintroduction video

DAOstack White Paper

DAOstack has also been mentioned inCNBC,Forbes,Yahoo,VentureBeat,BadCrypto Podcast,TheMerkle,Bitcoinist,CryptoNinjas, and Coinspeaker

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