Do you know what a Decentralized Autonomous Organization or DAO is?

On September 2, our CEO Rogelio Martinez held a conference about DAOS: ANCHOR VEHICLES VIA CRYPTOCURRENCIES in Bogota, Colombia for Entrepreneur’s Organization, among with attendants was also our Regional Manager LATAM Ivon Ramirez Arboleda.

A DAO is a type of decentralized autonomous organization, an entity of people who have the same purpose who coordinate on the internet through blocks. This management model aims to improve the traditional structure of many companies, allowing each member to have a voice and the opportunity to have initiatives within it.

It is very important to know the fundamental components to be part of a decentralized autonomous organization:

1. Smart contract: they are the rules that are created together and once created they can only be changed with the vote of all the members.
2. Fundraising: it is decided how to finance and enact governance.
3. Launch: as the last step the DAO code is implemented in the blockchain.

If you liked this article, write in the comments and share your opinion about DAO’s with us.