c64423 No.2899
Ok yaaroo, I have a plan. We can make our own website. We can do that by making a DAO(decentralized autonomous organization), basically a company on blockchain with tokens for shares. You don't have to trust anyone with your money if you donate, for the money you donate you will get tokens for the DAO which gives you a say in the decisions of the DAO. Say if you donate ₹100, you will get 100 tokens of the DAO you donated to, and you will get to vote on the operations of the DAO for the tokens you hold. To dive deeper and understand how it works, search about it, I can't explain everything.
This solves the trusting an unknown person with your money problem because if the DAO wanted to run away with your money, they will have to make everyone who holds the tokens, agree on the matter, but no one who didn't donate would get to make decisions door the DAO. We need like ₹2500/month to get the site up and running. Who's in?
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f9d56b No.2903
>>2899
But the votes are held for the things on the blockchain. For example, smart contract will ask, if we should buy this token or NFT?, and then a vote happens facilitated by a web3 website and then if it wins then the smart contract will buy it using the treasurey money.
How will we change this so that website decisions are made by the DAO smart contract?
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ee7ad8 No.2905
>>2903
You can do anything with the treasury money. Even in a govt registered company, you will have to do the things which you took decisions about on your own. Smart contracts can't do everything for you, atleast not for now. Say you wanna buy a domain, we will raise a vote, if the majority agrees, we will buy it by giving a stakeholder that money to buy it. We will have to put some trust on someone atlast still, like when we will allocate the money from the treasury to someone to buy the domain but it will be less riskier than just giving some unknown guy all the money to fund the process of making a website. And another reason to use a DAO, you would get to vote for the decisions about the website, so that's a plus.
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