'DAOs Could One Day Be The Primary Mechanism for Corporate Governance' by andrejtl dao daos
— or even subversive. And it's those defenders of the status quo who've been the most resistant to the many benefits that crypto has to offer.
in the wider business community. And their rise is prompting some to wonder: can they eventually come to replace corporate boards as the primary mechanism for corporate governance? Here's a look at how that might happen and what's standing in the way.To understand why DAOs are getting some serious attention from mainstream businesses, you must first answer the question:in the first place? And without getting too deeply into the technical details, the answer to that question is simple.
In a DAO, the most basic form of token functionality is access provisioning. In other words, owners of a specified number of the token have access to the DAO and its features. The second function is governance. In that case, tokens function as voting shares, giving the holder a proportional say in how the project proceeds. And the third function is compensation. In a DAO, it's common for tokens to accrue to participants who do work needed for the project to progress.
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