DAOs operate using smart contracts, which are essentially chunks of code that automatically execute whenever a set of criteria are met. Smart contracts are deployed on numerous blockchains like ethereum. These smart contracts establish the DAOs rules. Members then get voting rights and may influence how the organization operates by deciding on or creating new governance proposals. A proposal will only pass once the majority of members approve it
DAOs are fully autonomous and transparent. As they are built on open-source blockchain, anyone can view their code. Anyone can also audit their built-in treasuries, as the blockchain records all financial transactions. Such an organization has no hierarchical structure. Yet, it can still accomplish tasks and grow while being controlled by their members via its native token. The lack of a hierarchy means any member can put forward an innovative idea that the entire group will consider and improve upon. Internal disputes are often easily solved through the voting system, in line with the pre-written rules in the smart contract
How will we use DAOs?
The new earth project is a DAO that is programmed to restore earth back to its pristine stage. The founding rules are; #1 3D printing homes and new infrastructure in a sustainable and efficient manner. #2 Growing food and hemp to replace the current toxic counterparts. #3 using blockchain technology(DAO) to create a truly equal governing system
The hemp that we grow will be sold as raw materials, we will also process the hemp into different goods that will also be sold. Those profits will then be automatically used to continue to expand and create more self sustaining communities. All of the members will then get to vote on how we use these profits. We will also vote on the design of how the 3D printed homes/infrastructure will look. We will mostly be using the voting system as it will allow for the new world to be built on full transparency and trust. Within the new world that we are creating we will use crypto and a bartering system as our currency