Can politics be replaced by Decentralized Autonomous Organizations (DAOs)?

Decentralized Autonomous Organizations (DAOs) continue to grow in popularity in the Web3 space, but are preparedwill they revolutionize the political and economic sectors?

The anarchy of accountability in the DAO

DAOs are commonly used in the DeFi space fora truly decentralized launch of projects. The DAO raises legitimate questions about whether someone should be held accountable, whether systems are truly "trustworthy" and what organizations like the DAO will look like in the future when and if the details of governance, legality, ethics and logic flaws in the code are fixed. No one bears individual moral responsibility for group decisions, and legal accountability and responsibility is often shared among the subjects of the partnership. It therefore seems reasonable that members of DAO communities should be jointly liable for losses since they are jointly rewarded for profits.

The key issue with the suspensionpoliticians from managing and putting it into the hands of a smart contract is the failure to hold people accountable if things don't go according to plan.

One thing is certain:The DAO is an organization governed by smart contracts and cannot make any claims of its own for which it can be held liable. In any case, it is clear that there has been an anarchy of accountability within the DAO that other DAOs are likely to share, at least until the necessary legal framework is in place.

Implications for corporate governance

With the advent of the DAO, there really appearedan opportunity to reimagine 21st century governance. DAO poses new challenges for governance, introduces trustless systems and trust organizations, as well as joint ownership and control of many people with different interests, which was not previously the case in traditional mechanisms for managing political and economic processes.

Blockchain has become a trust management mechanism, andparticipants do not need to trust anyone but the system. Thus, DAOs represent a new form of collaborative governance, but with very strict collaboration rules that are enforced by smart contracts. Perhaps it should be considered “normal” for the DAO to resolve the conflict by “forking” its blockchain?

Competing decentralized autonomous organizations

Even in the digital metaverse and decentralized autonomous organizations, society needs to remain competitive and communicate with other members. This raises several key questions.

If the distinction between real and virtual becomes blurred, how to manage?

How does communication and collaboration work in a “decentralized office”?

All these questions lead to the main goal of achieving optimal interaction between politicians, machine and data in the metaverse.

In the future, competition between DAOs will be fierce, butcooperation will be mandatory. Domain expertise coupled with human skills such as judgment and emotional awareness will determine the success of the community and their potential in Web3, as well as the competitive level of their DAOs. Web3 is best defined as a blockchain-based decentralized online ecosystem. Access to data and machine analysis will also be highly commercialized, making continuous learning and development of human skills mandatory. On these new platforms, management should be more efficient, more meaningful, and more flexible.

DAO and politics

Control mechanisms have adapted over the yearsdue to globalization, increased technical specialization and functional differentiation. However, governance must also adapt to the technical innovations of the digital realm in general and to the greater use of blockchain technology in particular. Due to the use of and dependence on digital networks, DLT and blockchain technologies are increasingly shaping our societies and power relations. Even at a time when their full potential is still being discussed and undefined, the impact of technology as a management tool is becoming more and more tangible.