Assembly, Deployment and Extension of Blockchain Based Decentralized Autonomous Organizations: A Framework Point of View

Abstract

Decentralised autonomous organisations, entities built on the blockchain based with no central leadership, are changing the landscape of organisations and governance. Operations governed by smart contracts where bylaws are embedded into code and the decentralised nature of their governance are offering a unique structure to organisations looking for transparency and community engagement. This paper will give an overview of blockchain technologies and DAOs, how computer programming is incorporated into DAOs through the use of smart contracts and how this can be used for governance, in addition to how this differs to centralised organisations. Various DAO frameworks will be explored, compared and analysed such as MolochDAO, MakerDAO and the LAO. From here, the current challenges of DAOs will be explored and recommendations will be proposed followed for DAO frameworks. Finally, having considered the above, the future of DAOs will be discussed, including recommendations, improvements and developments.