The rise of the economy has led to many changes in the way people work. Workers now see much more flexibility in their schedules, and they are able to work from home or abroad. Companies that embrace this trend can increase productivity by reducing overhead costs.
Remote jobs were a niche a few years ago. However, after lockdowns and extended periods of remote work, people now see it as a viable option. Remote work is time-saving, efficient, and gives immense flexibility that workers no longer want to go back to offices. Companies have also accepted this future, with many even permanently shutting down their physical spaces.
The next step towards this future is DAOs, a company run by an algorithm built on blockchain technology.
Introduction: What are DAOs?
There has been an exponential change in the way we work and live since the invention of the internet. The evolution of technology combined with advancements in artificial intelligence has enabled us to move into a world where traditional jobs are not necessary. But this has also reduced the quality of jobs. With a DAO, a group of people can come together, create value, and get compensated in a fair and transparent manner. DAOs are autonomous and governed by smart contracts.
DAO in simple terms: A group of people can come together and work while being governed by smart contracts. While the work itself is not automated, the decision-making process is completely decentralized and governed by the people who’re working on it.
Here are some of the top DAOs out there. Some of them are products you might use every day, without even realizing they were a DAO!
- Curve DAO
- Friends With Benefits
- Bankless DAO
- Ethereum Name Service (ENS)
People = DAO
The core of a DAO is its people: anyone can contribute and get paid fairly. Members can vote on what needs to be done. After that, anyone can pick it up and work on it. If the work has been fulfilled to the defined level, the payment is released automatically. The opportunity is available to anyone and every step of the process is transparent. Each individual is both working for themself, and for the benefit of the DAO. It is a level playing field without a hierarchy.
MakerDAO is one of the earliest and largest DAOs in the crypto industry to power the DAI stablecoin. Mariano Ventura Barreira, Facilitator of Maker Talent commented,
“In a DAO, projects need to be justified, defended, and voted for within an internal forum. Stakeholders have around one month prior to the voting period to make comments and ask questions surrounding proposals (at Maker, we call them MIPs). This way of democratizing decisions increases commitment and makes you feel part of the community. I could no longer work for a traditional and centralized company.“
How is a DAO Better than a traditional company?
For starters, a DAO is built by the people who only want to create value to it. So if you’re not interested in the project or a particular task, you don’t have to do it. Someone else will just pick it up. You only get paid for your contributions. So it is completely up to you to choose what you want to contribute towards.
Also, a DAO is completely transparent. You can usually see where every penny is being spent, and even vote on what to work on and the compensation for each individual task. You can vote new core units, and vote the budget, the person and or the project, or approve a part of it.
Finally, there is the flexibility. A DAO just needs passionate people who want to work towards creating value. Apart from that, there is no limitation. You can be an anonymous person from anywhere on the planet.
Find your niche: How to work for a DAO?
DAO (Decentralized Autonomous Organizations) are organizations that run with minimal human intervention. They use automated software to make their decisions and operate without the need for managers, bosses, or traditional employees. Instead, these DAOs are self-governed by a set of rules encoded in smart contracts that they follow autonomously. Decisions are placed into a smart contract and it is up to the people who work in the DAO to vote on it and implement it. Therefore it is important to make sure that you join a DAO that you are really passionate about and fit in.
Once you’ve figured out a DAO you want to work for, there are two ways to work for them: Bounties and full-time jobs.
Find Bounties offered by the DAO
DAOs often put bounties for small tasks that do not require full-time employment. Most DAOs have a bounty board where they list out the tasks that need to be done. Other places where bounties are discussed also include Discord, Twitter, and Videoconferences. Each bounty comes with the details of the task, time limits, and what the pay would be. Anyone can pick up a bounty and get paid when the job is done. This is ideal for people who love the flexibility of working for a DAO as they can only pick the tasks they want to contribute towards.
Look for DAO Jobs on Crypto Jobs List
The next best way to get paid by a DAO is to find a full-time job. While DAOs strive to be 100% autonomous, we are not there yet. So DAOs look to hire full-time employees for some positions. You can find plenty of DAO Jobs right here on Crypto Jobs List.
DAOs might still be at an experimental stage where not everything is perfect. But the benefits of a DAO are very clear and we will only see more of them as they evolve. It is a good idea to get involved early and see how they function.
Huge thanks to Mariano from MakerDAO Talent Network, Vignesh, and Raman.