Organizations autonomous and decentralizedDAOs (Digital Asset Organizations) began as an idea. These organizations were created out of an idea, and are fueled and managed by developers. DAOs automate business operations and processes using smart contracts, and the basic principles of Blockchain. The core idea was to flatten the complex business process that various organizations are mired in and facilitate movement of assets to a very future-oriented digital interaction that needed no intermediaries — promising faster, cheaper and more transparent transaction processing.

DAOs were able to replace many intermediaries. They also acted as digital intermediaries which provide transparency, scale and authority, giving them the appearance of an organizational structure without the traditional organization constructs of groups, entities, management and charters. While the traditional centralized organizational structure is being challenged, the key organizational elements that remain are fueling a new economic revolution that is giving birth to a new creator economy and bringing artists, lawyers, developers and creators together from all around the globe to create ideas and monetize them at global scale in permissionless crypto economic systems built upon blockchain and Web3 technologies — and essentially defining the future of work.