How Web3 is Making Real-World Impact with DAOs
DAOs are continuing to make headlines and grab the attention of major investors. DAOs (Decentralized Autonomous Organizations) are a form of crowdfunding where all members must vote before implementing any changes. In episode 4 we’re joined by Garrett Openshaw, @MuunifiSocial, to chat about how he began his journey into Web3 and how utilizing DAOs has the potential to enact real change.
Key Takeaways
Entering Web3
- Garrett moved from the United States to China in the late 90s and began his television production career. Through his work on various tv shows, he had the opportunity to produce, “Danny Way Jumps Great Wall” in 2005. This documentary followed professional, American skateboarder Danny Way and his record-breaking jump over the Great Wall of China. Garrett recalled having many conversations, extending about a year and a half, with the Chinese government explaining the significance of the jump, learning about cultural awareness, and working within their strict regulations.
- Muunifi was constructed with the intention of creating content based on the benefits provided to interested communities and subscribers. Creators are paid directly from subscriptions and tokens are used to incentivize creators and subscribers alike. This finance-focused social media platform puts freedom directly in the hands of creatives.
DAO Impacts on Government
- Regulations will always be impactful and differ no matter where you’re operating from. In Garrett’s experience, the Chinese government would typically shut down any entity that they had no control over before addressing how to move forward. He found that the US was likely to wait and observe the main functions before implementing rules, with the expectation that people would either adopt or be removed. Decentralization will have a profound impact on the governance of nations over time. Most of that time will likely be spent through negotiations and understanding the restrictions of different types of governments.
Recap Discussion
- Effective change begins with yourself and extends into every aspect of your life. It’s important to understand how the people around you are impacted and what insights they have to contribute before working to make an impact on a state and national level. Starting from the ground up helps to provide different types of perspectives to better understand what actions will enact the most change.
- DAOs completely change the game of the traditional workforce. Decentralization opens up access to laborers all over the world, especially students. DAOs provide a viable work option and more autonomy when investigating career paths. As the popularity of DAOs continues to rise it will be vital to keep individuals entering the workforce informed on their growth and potential.
Grassroots operations and incentivization continue to grow the number of communities utilizing DAOs. As more communities adopt DAOs, increased issues such as security and privacy may arise resulting in likely changes to their structures. It’s safe to assume that we will see these structures evolve as DAOs become more mainstream.
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LISTEN TO THE PODCAST: https://www.spreaker.com/user/15311378/muunifi