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- Millions of United States workers are leaving their employments in the wake of pandemic, forcing employers to re-analyze how to lure and retain talent.
- Imagine an internet-native company where monetary decisions — like acquisitions, R&D, philanthropy, bonuses, raises, salaries, and much more, are governed by members of a DAO.
- DAO refers to a Decentralized Autonomous Organization, where there is no central authority, in short, an organization governed by its member or community.
What Great Resignation Is Throwing Into Light
Around 4.3 million Americans left their jobs back in January, leaving 11.3 million jobs in the nation vacant. For the ones who experienced the influence of “The Great Depression”, this Great Resignation is a notable paradigm shift.
Only an occurrence of a pandemic like Covid-19 can be considered as its proper explanation, but it would not be entirely correct to put complete weight on Covid-19 for this corporate exodus. More precisely, pandemic remained an accelerant combusting a workplace design developed to burn.
Workers want their job done, this is why employees getting sufficient support remains more productive from home rather than their office. Elimination of communication saves a lot of energy and time.
When this globe went into lockdown, salaried folks realized a life-changing truth, they can work without going out of their homes,
Can DAOs Fix This?
The emergence of DAOs might be a solution to workers’ demands for a larger autonomy as well as efficiency.
DAOs are decentralized autonomous organizations supported by blockchain governed via self-executing rules. Stationing this technology as a workplace framework kicks out the requirement for corporate oversight, making an actual democratic work environment possible.
DAOs might be a solution to modern workers’ disaffection with presently outdated workplace frameworks. Still, creators must customize them to be as a community governed, inclusive and democratic as possible to avert repeating the same corporate loopholes.
What’s The Obstacle For DAOs?
The present status of DAOs is not as decentralized or autonomous as purists want it to be. In fact, several DAOs are funded by venture capitalists and utilized by corporations as yet another state of the art framework, allowing them to finish thousands of simultaneous acts.
When utilized this way, DAOs become tools of even larger, faster corporate command instead of promoting a democratic work environment.
Additionally, not all DAO members take part equally in spite of holding equal status.
Forward March To Progressive Equal Workplace Design
The aforementioned issues can be solved with similar innovative methods and courage that created blockchain technology. With fundamental changes, DAOs can put folks on priority, empower them, and foster communities to do better, bigger, and more equitable work than traditional corporate environments enables.
DAO makers can reward members for taking part in voting and suggesting proposals instead of imposing voter fees and take command of decisions wholly with consensus, and jack up funds without depending on venture capitalists.
Truly innovative DAOs provide their members a transparent alternative to present workplace designs where members govern themselves and access an open, indelible record of the company’s financials.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
