What is a DAO in Crypto? (Decentralized Autonomous Organization)

A DAO, or a Decentralized Autonomous Organization, is a company set up to run by code on the blockchain. The people who own tokens associated with the DAO are responsible for voting on changes and proposing new ideas to keep the DAO up and running and improving.
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This is one of the best explanations of a DAO I've seen! there's only one thing that I think might be confusing for people, with regards to governance. You mentioned only one way that a DAO could do governance where people vote with their tokens & whoever has the most tokens has the most voting power - this obviously has some serious problems for keeping the DAO decentralized as the richest ppl in the DAO will have all the influence. But one of the most exciting aspects of DAOs imo is that they allow orgs to experiment with new forms of governance. There are lots of exciting new ways from, quadratic voting to engagement-based consensus & NFT-based reputational voting, that keep things more democratic and prevent just the most wealthy from having all the influence. I hope you can do videos on some of these new forms of consensus as they gain prominence. keep up the good work!

[@ChaceBonanno]

It’s just like a company in that sense. The larger shareholders should have more voting rights. But sometimes there are groups of shareholders, usually founders, with special shares that have more voting power.

[@robertweekes5783]

Also you’ll rarely have 1 fat cat in charge of everything in a high value DAO, because the other voting stakeholders will eventually buy more tokens collectively than any individual

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When will Bitcoin become a store of value, 2026?

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Such a nice and simple explanation! Thank you :)

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Brilliant! Thanks for all this valuable information; it is highly appreciated! Just recently getting acquainted with DAO's and NFT's, so thanks for this again!

[@NappyWayz]

Missing Con: I would have to trust that the largest DAO token holder has my best interest at heart. If they don’t, I’m screwed. Therefore, it is human-centered.

[@solana1036]

Same problem without Dao.

[@NappyWayz]

@@solana1036 Yeah, good point. Therefore, every so called "hack" maybe an exploit. The cotillion effect lives on.

[@jonasbartel6894]

Or you divers the decision-tokens from the paying-tokens, like with stock-shares. Then you could make it equal. Let's see, what the future holds 😊

[@Jellyblob]

Also, some DAOs have steps in place to avoid whales taking control of the entire DAO like a limit on how much voting power an individual can have.

[@NappyWayz]

@@jonasbartel6894 “Let’s see what the future holds.” Yes! We are going in some interesting directions. I can’t fathom what the future holds. I am too busy thinking about a trustless system built by untrustworthy people. With a DAO, I can build an organization, own most of the tokens and sell the rest to others, and find a way to divvy them out so I will remain in control. I hope we discover a way to combat this.Especially since I can make unlimited wallets to hold the governance tokens. I’m sure there is a solution for this.

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Brilliant. Love this. Thank you 😊👍

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Thanks for the content, good job!

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crypto is the act of speculating an cryptocurrency price,

[@aygwm]

It’s going to be hard to get the current business world comfortable with a trustless, faceless DAO. But future generations will likely be more accepting of the premise.

[@ChloeIsSad]

and for a reliable DAO to exists, it's pretty much obligatory to have some anti token monopoly policies, since if someone has 50%+ of the tokens, they're pretty much the CEO of the DAO

[@aygwm]

@@ChloeIsSad very true. But this may be the way that companies distribute their capitalization in the future anyway.

[@jonathanantoine4962]

DAO will not replace businesses(Or only the rent seeking ones), they can't build innovation, innovation doesn't come from a crowd but from a single visionary person generally. DAO will replace bureaucracy and governments, and bring a less corruptible democracy.

[@yusupsanjaya7922]

So we need to stop making baby, because the world doesn't need human in the future

[@avigator]

@@jonathanantoine4962 Why is the 50% plus Token holder less corrupt than an institution of a democratic state?

[@michaelzeuner1746]

I understand partly the difference between hard forks and soft forks. I think I lean towards hard forks being better then soft. You should absolutely make a video!

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[@viniciushenriquedasilva7335]

You said that code in a blockchain is always visible. However, I have heard that most of the smart contracts just show the ABI. So, is that easy to draw the code from ABI?

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yes! i very love to hear how crypto/the world works so please continue making videos(and the vidoe about the soft\hard fork is sounds interesting)

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i would love to see a video about the hard fork. This channel is awesome by the way!

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How does this crypto stuff really works and how do I make good profit from it? I'm willing to invest in it but I need guidance so I don't lose out.

[@jamminglucas7040]

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[@chinomsojessica6956]

@@jamminglucas7040 Do you have an idea of any good broker/trader I can start with that's trust worthy?

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[@getmeontvnow]

Finally, finally I understand what a DAO is!!!!! And since I saw the video on hard and soft forks, I understood that as well. Hopefully we’ll never put our national defense grid in a DOW lest we get a nightmare scenario like “War Games”, or “Dr Strangelove”.

[@nategoodwin3329]

This is why weapon systems with any “autonomy” typically run on an isolated Linux software. Weapons + DAO = Nightmares..

[@JairoSaysHi]

Amazing explanation as always, thank you!!

[@ednafronkelbarger8601]

I love your videos, and I am learning a lot from them. A few comments. Re the vending machine analogy, there's one more human who is required. The human who reviews the footage from the concealed camera to monitor activity around the machine. It's generally not for vandalism, or petty theft. It's for counterfeit bills showing up in the deposits of the proceeds from the machine. I worked in the Treasurer's Office of a large state university for 3 decades. Banks are required to notify you if there's even one single counterfeit dollar in your deposit. Every once in a while, we'd have a large amount of counterfeit bills in the deposit from the vending machines. It was never the students. Students are awesome. And besides, it's not worth their while to put counterfeit bills in a machine. The person who stood to benefit greatly was the person who stocked the machine and retrieved the cash receipts from all of the machines on campus. They'd swap out the good bills from the machine and replace them with counterfeit bills. And they were dumb enough to do it right there at the machine, in front of the video camera they didn't know was there. So, what would be the crypto equivalent of that one? Also, and much more material, Boards of large corporations generally don't tell the CEO what to do. The CEO and the administration make the policy, and then report to the Board what they are doing, along with presenting performance reports for review. Most of the things that shareholders vote on are rubber stamp things like what auditors to hire, or voting for Board members themselves. If things are going well, the Board approves an obscene compensation package for the CEO. If things go poorly, they fire the CEO and give them an obscene golden parachute.

[@crypto-insights]

Sad to see that these videos get less views that those hype KZbin videos with insane price predictions. It shows up human greed is way bigger that the curiosity to understand new technologies. Keep up your great content!

[@blurrymusic3060]

Nobody gaf if you feel greed is more important, people are broke, don't really have time to be curious

[@kemsekov6331]

As a programmer I can say that this is almost impossible to create 100% secure code. Even if your logic is flawless there always some places that can be saved with security by obscurity. With this in mind the only way we could keep such big open source projects is by constantly updating vulnerabilities, but with smart contracts this is not so easy. Our code is decentralised so updating it will require extra time that can give hackers more opportunities for movement.

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Great explanation thank you!

[@a1no1x]

Excellent video, the narration is great.

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Nice video!! Very engaging from the beginning to the END., I'm new to crypto trade and I have been making huge losses but recently see a lot of people earning from it. Can someone please tell me what I'm doing wrong,,......

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[@prajasingh7352]

lost $2000 to them suckers already, so annoying how they rip you off your money

[@prajasingh7352]

I tell you man, it's so frustrating, KZbin has to do better in regulating them.

[@susankayleigh5845]

Hey, you said you were able to find a true trader, where and who is she?

[@johnmark7799]

I read about expert Mrs Bridget Denison, on a gazette, decided to give it a try.

[@mattpepe8491]

DAOs are a very effective community model in blockchain. Tools like CommonWealth and Snapshot facilitate the creation of these DAOs

[@mhomhd1325]

Hi, Just discovered this channel, really insightful. Thanks

[@tayyebeharshi7763]

You got great way of explaining! thanks

[@louisclifford9874]

I came here to learn how to invest after listening to a guy on radio talk about the importance of investing and how he made $460,000 in 4 months from $160k, somehow this video has helped shed light on some things, but I'm still confused, I'm a newbie and I'm open to ideas.

[@apriljones6004]

Investing in stocks and crypto is a good idea, a good trading system would put you through many days of success.

[@tinythomas4438]

It is possible to produce superior performance provided you do something different from the majority. However most of us tend to pay more attention to the shiniest position in the market to the cost of proper diversification.

[@wilsonbrown8993]

Having monitored my portfolio performance which has made a jaw dropping $370k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market.

[@louisclifford9874]

@@wilsonbrown8993 Interesting, I have a lump sum doing absolutely nothing at all in my bank account, I wanna get something started with it. You seem to be doing excellent for yourself, how do you achieve this?

[@wilsonbrown8993]

@@louisclifford9874 Exactly, the trick is to diversify your investment, don't panic when everyone else is and invest consistently.

[@TheVioArtsofficial]

Could u please explain systems like Time Wonderland or Snowbank ? Would be crazy if u can 😍

[@Jglizzy]

This is a new form of currency that puts a strong value in community! Crazy!

[@bethcq8998]

This channel is better than any UDEMY courses! Hope I discovered this first before buying a course! lol

[@julianjuez]

Yes please: make a video on forks!

[@ravvleenkaour]

Yes, please make video on hard & soft fork. You did good job with this one 👍

[@rawndommemes1596]

this channel is growing so fast

[@blockchaintopci4144]

never seen a host interrupt mark like that ever before, Gary is awesome

[@rezahosseini7851]

But isn't it a downside that people with more money/tokens can impact more? Like what if a group of super rich people decide to buy a lot of tokens and then basically take control of the DAO since they can just out vote others?

[@aruytpadyugf]

That's exactly how DAOs work. They are not democratic at all. It is very similar to shareholders of a traditional company; the higher the shares, the bigger the influence.

[@Chris-ce3oj]

Why someone would give a ton of money to destroy something

[@antoniosong]

@@Chris-ce3oj They wouldn't destroy - they'd skew it to their advantage

[@akaiye]

@@antoniosong their advantage would be to grow the dao benefitting everyone

[@taturay]

Welcome to real life, crypto won't change basic economic concepts.

[@akispessiridis721]

Hello Sir, another great and explanatory video like ALL the previous ones. Is it ok to ask, which program you use to create these kind of videos? I am very impressed by them.

[@WhiteboardCrypto]

Yes, we use software called Videoscribe, there are many other channels that use it, but the stories you tell are most important :)

[@akispessiridis721]

@@WhiteboardCrypto Thanks for instant reply. I agree, the content is the most important part of the process.

[@nebsonne3689]

@@WhiteboardCrypto I agree with you. Your stories are always exciting n I always watch to the end. Well done ✅

[@DocumentingElonMusk]

Hey I’m so grateful for this channel to exist. 👍 🙏 🙏 🙏

[@christiansantos7164]

I think I just became your 400k subscriber! Here’s to several million more!! 🍻

[@harambeinhumanform]

Bro legit the first 10 seconds explained 66% of the subject damn i love it

[@MrYdu69]

There is something that I do not completly grasp: in a centralized corp, the board decides what to do and usually they are the major share holders and have a vote right because they have more than x% of the shares. They vote what are the next steps for the company and the CEO has to apply these steps. In a DAO, every token holder has a right to vote. And the votes decide the next steps, if there are new employees, ... But the people who are the richest have the most votes and will decide with the same influence as if it was a centralized organisation. Or I am missing something ?

[@AlphaCentauri00]

In that sense it functions the same as a “centralized” org, if the richest have majority vote over the DAO, but the difference is that a DAO is decentralized. It can run on its own without human input, enforce rules evenly across the board, and cannot be forced shut down by a government

[@ChristopherForsyth]

@@AlphaCentauri00 "cannot be forced shut down by a government" -- how's that going to work? We used to believe the same thing about "the internet" but it sure didn't work out that way. Don't see what would stop a government from passing laws impacting the operation of a DAO just like any other part of life.

[@P8860]

@@ChristopherForsyth you can't shut down code unless you delete it. Looping functions.

[@abhavupneja8160]

I might be wrong but I think there is no hierarcy of employees in a DAO

[@twintersify]

Exactly. The fact that they think DAOs somehow get around governments and majority shareholders/board members is just wrong

[@JJ-yn4vq]

I want to see a video about hard and soft fork !! Good job as always

[@yangster18]

nice quick vid, not a lot of cocky shit talk and love the illustration, it really helps.

[@HyperNonVerbal]

Yeah, what is a hard fork and why do some hard forks not issue new tokens from the hard fork?

[@WhiteboardCrypto]

Great news! We have video coming out answering all those questions!

[@andrewanastasiou8915]

Hey! Love this channel Could you do a video of how market cap works?

[@WhiteboardCrypto]

We've got one coming up :)

[@Silvermunha]

this video is amazing.... thank you so much!

[@thiagocordeiro8411]

Nice way to learn, great quality video.

[@yingyangman11]

I feel like there's a lot more doawnsides to this than you mentioned. Like how do you make sure that everyone who's owns the coin votes at every meeting?

[@MrMarcee]

you could make them LOSE money if they don't vote within X hours.

[@michealstackhouse9618]

Venturing into the trading world without the help of a professional trader and expecting profits is like turning water into wine, you would need a miracle, that's why i trade with mrs Eva heather, her skills set is exceptional.

[@rocoilcompany5946]

I'm surprised you know her too! I've been making a lot of profits investing with her a few months now.

[@thomasnewman6811]

The fact that I was able to withdraw without any issues is what I love about trading with Mrs Eva heather

[@rolfmontalbano9002]

You invest with Mrs Heather too? wow that woman has been a blessing to me and my family.

[@silemispereiraepana6413]

I've never seen anything compared to Mrs. Heather’s trading performance. She has helped me earn

[@silemispereiraepana6413]

$7,520 with an invested capital of $2,300 in seven days. her strategies are mind blowing.

[@teapot9514]

First 30 seconds were enough for me to understand it much better than with all the other explanations I've had..

[@Jerry-rd9my]

Subscribed. Awesome explanation!

[@sherrellsprowls7804]

Nice content. To me, trading the forex and crypto market is way better than any online investment 💯

[@chrissain1395]

Please I need someone to help me trade or invest the forex or crypto market because I'm tired of trading in losses myself. I've blown my account twice and it's frustrating.

[@Kokoben1]

@@chrissain1395 I will advise you to try expert Mrs Bridget's trading services...... She's the best

[@Kokoben1]

🏐🏐🏐🏐 ＋𝟭𝟰𝟮𝟰𝟮𝟮𝟲𝟲𝟮𝟱𝟳

[@Kokoben1]

Tell her i referred you 👆

[@michaeltaylor6168]

@@Kokoben1 Wow you really know expert Bridget...? I'm a living testimony of expert Bridget, she has been trading for me for months now

[@stevenkingston7682]

Yes! Please make a video about soft and hard forks! Btw is Uniswap and Pancakeswap a "DAO" too? They have their own governance token that you can use to vote on smart contracts.

[@WhiteboardCrypto]

Yes they are mostly a DAO, we will have to look into Pancakeswap, but I believe it is mostly a Uniswap fork for the BSC

[@chrisvithuu]

Really informative video. but when you're talking very fastly for the beginner's bit hard to understand the flow and please explain the jargon words whenever you use them. Thank you for your time on this video man. much appreciated. Happy New Year

[@Gonzo_Insights]

Great channel! Subscribed!!

[@islacharlotte1908]

I recommended a professional broker to you guys sometime ago, can I get person who invested with her comment below let's gooooo

[@candaceberta3671]

hey wes, l did invested with her i made huge profits thanks for recommending her

[@rickycedric3587]

I saw that recommendations but I did not bother chatting her up 🤦🤦🤦

[@bertiedaniel7491]

who made profits for you, am really looking for a pro who can manage my account and make me huge profits

[@michaellouka9777]

I'm glad I did withdrew my first profit two days ago now I have another on going trade with her

[@edmundnicky26]

who is this professional broker and how would I be able to get in contact with her