Generally speaking, A Decentralized Autonomous Organization (DAO) is a way of operating a business or organization in a decentralized manner.
In our case, combined with the use of Blockchain Technology backed by Solana and Helium and solidified in our Articles of Incorporation Wsad.io is owned by our DAO and it’s members become Shareholders of the organizations, with all the rights and responsibilities associated with that.
Our Organization is not only run by a set of rules and protocols that are encoded into a smart contract on a blockchain that govern decision making and allows us to operates without the need for a central governing authority it also forms a fundamental part of our internal constitution to work for our Members – not wealthy shareholders.
This article will provide an informative guide to a DAO in general, explaining what they are, how they are different from a traditional centralized organization, the benefits of utilizing a DAO and in general how it relates to us, Wsad.io.
What is a DAO?
A DAO is an organization that is run by a set of rules and protocols that are encoded into a smart contract on a blockchain. This means that the organization is run in a decentralized manner, with no central governing authority.
The rules and protocols are enforced by the blockchain, with decisions made by the community of members that participate in the DAO.
What is a Blockchain?
A blockchain is a distributed ledger or database, its a technology that records and stores data in a secure and immutable way by utilizing nodes (commonly known as miners) that run on a large decentralized network of computers.
This comes with many benefits but also its own unique challenges.
In a decentralized network, hundreds or thousands of computers record and store transactions in a public ledger. This ledger is distributed across the network, meaning that no single entity has control over it.
What is Solana and Smart Contracts?
Solana is a high-performance blockchain that enables developers to build decentralized applications. It utilizes smart contracts, which are self-executing pieces of code that execute when certain conditions are met.
Smart contracts are stored on the blockchain, and can be used to automate various processes, such as transactions and governance.
What is Helium and The People’s Network
Helium is a blockchain-based infrastructure that enables the development of a decentralized Internet of Things (IoT).
The People’s Network is a decentralized network built on the Helium blockchain. It is governed by a HIP process, which stands for Helium Improvement Protocol.
This process incentivizes users to participate in the governance of the network and contribute resources such as data, storage, and computing power to the benefit of the network by deploying devices that help provide coverage.
The People’s Network has a DAO and several subDAO’s, which are responsible for developing and maintaining the infrastructure for IoT, mobile, and VPN services and rewards members who participate in spreading coverage.
This is part of what we do.
A Centralized For Profit Corporation
A centralized for profit corporation is a type of business entity that is owned by a single individual or group of individuals.
The company is managed by a board of directors, who are elected by the shareholders and are responsible for making decisions on behalf of the company.
The company’s profits are distributed to the shareholders, who receive dividends regardless of the services or investment they put into the infrastructure or community, the company, ultimately exists for the benefit of the shareholders.
A Decentralized For Profit Corporation
A decentralized for profit corporation, or DFC, like Wsad.io is an organization that is governed as a DAO and is backed by smart contracts on the Solana blockchain that ensure member/shareholder rights and responsibilities as well as helping with day to day activities.
Ours is built around the Helium ecosystem for IoT, VPN and mobile services, providing internet services that are decentralized. Our DFC/DAO is owned and controlled by its members, who are incentivized to participate in the company and contribute resources such as data, storage, and computing power by becoming coverage or service providers.
The rewards are distributed among the members who are shareholders in times of profit, who are rewarded for their contributions on top of existing rewards and benefits.
Decentralized Autonomous Organizations (DAOs) are a revolutionary way of operating a business or organization in a decentralized manner and allows us to build our infrastructure on our relationships with people and forces us to see them not as ‘customers’ but as ‘partners’ with a common aim.
Wsad.io Technologies Inc
By utilizing smart contracts on a blockchain, DAOs are able to automate various processes and rely on the community of members to make decisions. They are different from traditional centralized organizations, and provide many benefits such as increased security, transparency, and efficiency.
Whether it is a for-profit or not-for-profit organization, DAOs are an innovative way to manage and operate a business or organization and a way to ensure the rights and responsibilities of its members when used in conjunction with Solana, Smart Contracts and The Helium Ecosystem.
This is why we chose this model.