Will the DAO change the way we work and do banking?
With Threefold DAO, we are witnessing the start of one. It is coming alive with the launch of version 3.
DAO stands for decentralized autonomous organization.
The Threefold DAO holds rules for value exchange between members and organizational governance.
Users of cloud services pay with Threefold tokens (TFT). Several blockchain-enabled services facilitate. They are paid with their own digital token or coin. These services are:
- Stellar (coin = XML) and Binance Smart chain (coin = BNB) make TFT available
- Pancakewap (coin = CAKE) and 1inch Network (coin = 1INCH) deliver swapping services between tokens.
- Parity substrate (coin = DOT) makes interoperability possible between blockchain services.
More features will come when Threefold DAO evolves to scale. Banks are not involved in the token exchange. Software coders come together at Github, set up their governance, automate rules for cooperation, start to create and offer digital services for tokens. Is it a pattern to follow?
The digital infrastructure is getting fixed and is bringing digital tools to organize and transact. New value creation models bring more options for all of us to face our challenges. Time will tell if and how CBDC (central bank digital currency) will fit in. Paul Bessems, the founder of Weconomics Foundations, wrote about the DAO in his previous books. A new book is coming. It is something to look forward to. Sharing knowledge and creating sustainable prosperity is the common goal. Start Close In (*)
(*) Click here and listen to the beautiful poem by David Whyte.