In this video, we will explain what a DAO is, how it works, and the benefits of being part of a DAO.

A Decentralized Autonomous Organization (DAO) is a blockchain-based system used by people to coordinate and govern themselves. They are mediated by a series of self-executing rules, deployed on a public Blockchain with decentralized governance. This means they are independent of centralized control.

Every rule that needs to be changed, every money that is spent, all of this can happen only following a vote from the community. No change can be made without the entire community agreeing on it.

Maybe the most important advantage of DAO is that it solves the principal-agent dilemma.

There are two ways to receive a DAO membership. This is required in order to determine how voting works and other important parts of the DAO.

Enjoy!

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- CHAPTERS -

0:00 Intro
1:04 What Is DAO?
1:42 How Does DAO Work?
3:07 The Principal-Agent Dilemma
4:17 How To Get A DAO Membership?
5:53 Conclusion
6:25 Outro

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#DAO #DAOExplained #Animation #Cryptomatics

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