Decentralized Autonomous Organizations

– https://www.schneier.com/blog/archives/2022/10/regulating-daos.html

WANG, Shuai, DING, Wenwen, LI, Juanjuan, YUAN, Yong, OUYANG, Liwei and WANG, Fei-Yue, 2019. Decentralized Autonomous Organizations: Concept, Model, and Applications. IEEE Transactions on Computational Social Systems. October 2019. Vol. 6, no. 5, p. 870–878. DOI 10.1109/TCSS.2019.2938190.

> Decentralized autonomy is a long-standing research topic in information sciences and social sciences. The self-organization phenomenon in natural ecosystems, the Cyber Movement Organizations (CMOs) on the Internet, and the Distributed Artificial Intelligence (DAI), and so on, can all be regarded as its early manifestations. In recent years, the rapid development of blockchain technology has spawned the emergence of the so-called Decentralized Autonomous Organization [DAO, sometimes labeled as Decentralized Autonomous Corporation (DAC)], which is a new organization form that the management and operational rules are typically encoded on blockchain in the form of smart contracts, and can autonomously operate without centralized control or third-party intervention. DAO is expected to overturn the traditional hierarchical management model and significantly reduce organizations’ costs on communication, management, and collaboration. However, DAO still faces many challenges, such as security and privacy issue, unclear legal status, and so on. In this article, we strive to present a systematic introduction of DAO, including its concept and characteristics, research framework, typical implementations, challenges, and future trends. Especially, a novel reference model for DAO which employs a five-layer architecture is proposed. This article is aimed at providing helpful guidance and reference for future research efforts.