DAOs and Onchain Governance - Fiyin Odebunmi

we're going to be taking another speaker to come take us on Dows and on chain governance and everything else in between in the person of a round of applause for him please hello everyone hello everyone nobody's answering me are we tired are we tired please don't be tired okay um my name is f Dei I'm the co-founder at ear code at early code when a mission to train the next billion Africans in nextg skills and um my my talk for today is titled Dows and not change Governors please I would like this um conversation to be more interactive and if possible please reduce the noise at the back because we find this very interesting all right okay yeah so this is a question was dead uh before before we start uh so I'm a design engineer um I've worked with a couple of we startups I've also been in um a couple of DS like um jub Juicebox Dow Bank D Ru D and um and Mo all right um so the question is are Dows Dead all right um recently I think I believe uh we usually do not talk about DS enough uh we've seen people you know having interesting conversations around web rebranding you know talk about chain abstractions you talk about um stable coins right and people don't we don't really talk about that and I think that was a very critical aspect of the ecosystem all right um I start I started my crypto journey in 2021 thanks ddge coin and Elon Musk all right that was in 2021 when you know Dodge Coin and Elon was always you know tweeting about ddge coin and my Cy led me to this space all right uh let's get into it okay yeah so a DA is an internet native blockchain governed collectively owned organization working towards a shared Mission so it is basically a decentralized aut autonomous organizations it's basically like a traditional compaign where you have a CEO you have a CTO you have a COO all right but in this case there is no Central leadership all right there is no coo there is no CEO there's no CTO there are just a group of token holders who makes decisions on a product right yeah so all chain governance is a system where votes and decisions are recorded on the blockchain um I believe that one of the biggest use cases of the blockchain is onchain governance all right because when you're making decisions on the blockchain you're not entrusting U the results you know with a middleman or a person oh yeah you're Ting this on a smart contract and of course a smart contract is a computer program which automatically executes um agreements on a blockchain all right decisions are governed by proposals and voting to ensure everyone in the organization has a voice and everything happens transparently on chain uh so in a dow everybody every member of an organization has equal rights to make decisions you know in the team um there was a time like few few weeks ago I was I saw I saw a tweet on X which was around um or Le companies I don't know did anybody see that do we use Twitter do you guys use do you guys use x okay let me call it X nice so there was an argument on Twitter about oral companies that if you don't understand that in EUR it means um when a company is only led by the ideas of just the CEO all right and you as a team member you ask yourself a question I'm also a member in this team I should be able to have I should able to contribute to the success of the product or a startup all right so in Dows you have the opportunity to be um to make decisions or to be part of decision making process all right yeah so d a member owned communities without central leadership I just mentioned that that in in in the Dow there's no CEO there's no CTO or coo there's just a couple of members with a couple of token holders you know who have equal rights to make decisions and of course it's also a safe way to collaborate with internet strangers all right um is also a safe place to commit funds to a specific c um few weeks ago I also saw a guy a CE of a company who misused $1.5 million of a company and if you don't see that as a challenge I see that as a very big challenge because you ask yourself a question what exactly are you going to use5 million to do he probably run you probably run it he probably use it to carry I maybe lucky bibs I don't know right um so I think one of the ways we can solve these issues because trust is a very critical aspect of humanity all right one of the biggest ways we can solve um these issues is to make it a dow all right because even if you're going to uh say withdraw some funds it all happens on chain right you can verify that thank God we have you know um um we have platforms like e scan because you can see how your friends is transacting on chain you can see everything you know on chain um for some of us here that are familiar with uh Dows that's uh Discord you know where you have different guilds you have uh the governance Guild you have the treasury Guild you have the Lego Guild you have the developers Guild you also have the design Guild and in the mean you're seeing a picture of um community members you know just discussing you know how the project is being run and then we also have here snapshot where proposals are being voted on right uh I mean you can if you have your phone here or your your laptop and you have internet connection you can go on snapshat and you will see different DS you see how proposals have been voted on and and that can only been achieved if you are a token holder all right because that gives you your voting power uh yes I made this organogram of a traditional company you see the board of directors you see the CEO here and then you see the executives here and then the employees are like at the bottom of the food chain all right and then you ask yourself a question which is why am I not up there or why is that a central leadership who even have you know more access to the company's budgets all right uh yeah so it da you just have you just have a couple of token holders proposal and treasury DS are a powerful tool for creating decentralized Community Driven organizations with Ds you don't need to trust anyone else in the group just D code which is 100% transparent and very veriable by anyone so if you're a Founder here or a a builder and you're trying to build a product and you'll probably have issues with trust because uh I I believe one of the greatest inversions of uh u in our time is internet all right and of course you you find yourself collaborating with internet strangers and you find it difficult to trust them because you don't know where they're coming from you're not sure if they're going to run away with your money and this is where D comes in all right in in a dow not you don't need to trust anybody because 100 it is 100% transparent and verifiable by anyone all right so yeah simple DS has been called DS has been called DS have been called a group chat with a bank account a group chat is something like a a Discord or Telegram and of course a bank account which could be a treasury yeah examples of how you could use a dow is to build scalable products investing in startups buying arts and assets funding research and raising money if you've if you've used Juicebox Juicebox is a dow and they actually built a decentralized crowdfunding platform you know to raise money for Web projects we've also seen Dows investing in in startups like metal game um we've also seen D you know funding research and raising money an example is Constitution da raised over $47 million in 7 Days in an attempt to buy the original US Constitution copy all right um so I think the purpose of my talk today is because last I was I was here last year talking about Dows but how you can hand in a dow but how if you're here maybe struggling for jobs you can actually do your research find outs and of course you can be a contributor and then you ear you know he ear tokens but today I'm here to challenge you to build a dowo you can actually build a dow all right um yeah lastly this last slide which is the internet let us share information globally Dows let us work together trust each other and coordinate in a fair way on on larger scale problems than ever before and maybe a doubt could be the next billion dollar organization like strip um Africans are mostly seen as consumers all right and I believe for really going to build the future of Africans where every African will have access to True freedom is when we start building our own Solutions becoming producers and how we can start doing that is by building a dow and I believe the next Dow could be the next billion dollar organization like stripe all right thank you for having me