DAOs y Comunidades Tokenizadas

[Music] And now we're going to talk about this topic of dice and how blockchain can help us basically transform the way we organize and coordinate using this new technology. And we're also going to talk about something we 're starting to call specialized communities among the circles that are driving these technologies globally. But for that, first we're going to talk about the fact that all this started here in April 2016. More than six years ago, a token was launched for sale on a website that in just a few days raised $34 million. Two more days passed and it was $50 million, and in less than a month it reached $150 million—one of the most successful crowdfunding campaigns in history.

And that project was the DAO, or the first DAO that was actually created using blockchain, using this concept as well. But just as it rose meteorically and made so much money quickly, it also lost it very quickly. I mean, it happened less than two or three times, and on June 17th of the same year, 2016, they had lost $50 million due to a vulnerability in the smart contract. This was... New in 2016, and it was 3.

6 million islands. No, this was actually one of the historic moments in Tyrion's history because it caused a major change in how Ethereum worked. It was what's called a fork, which I've mentioned several times, and now there's Classics and Decidium 2.0, which is what we normally use. But anyway, this was a catalyst for this dice concept that we're going to talk about today.

Even though this happened six years ago, since then, this concept has been transforming and evolving a lot. And that's precisely what we're going to talk about today. The intention is for you to understand how dice work, what the principles behind them are, so that you can also explore, maybe join one, or why not create something to scale the solutions you want to create. And look, even with all that problem, one has built on the same concept. Because something I didn't mention here is that this dice...

what I wanted to do was remind everyone of the capital. Those who hold the token they were buying have a vote proportional to the amount of money they invested, allowing them to choose which projects will be funded. Basically, the same people who hold the token can receive a return on their investment in the successful projects they voted for. This same model has evolved to overcome legal and technical difficulties, which caused so much financial loss. Now, Welcome Incubator, one of the world's largest and most important incubators, has created one called Orange Down (the little orange one) and recently raised $80 million to invest in startups.

So, this concept has been evolving for six years, but what exactly is an " arado"? An "arado" is... This is a definition of this prediction, along with its name, but it mentions that it's a group organized around a mission, coordinated through rules registered on the blockchain. We'll break down this definition bit by bit to understand it. What do the different elements of this concept imply?

But this graphic here, which is also from one of the oldest organizations, makes a great comparison between how DAO works and a company as we normally know them—not centralized companies. There's a big difference in how DAO is structured and how it allows the people who are members of that organization to coordinate, to have a voice and a vote, to choose which actions the organization will finance, where it will focus, and things like that. Something that is also very important is that it's much more accessible to join DAO than it normally would be to join a company. Let me tell you about my experience with DAO, these big international organizations. There's one called DAO, which is similar to The Combinator but for tokenized communities, for communities that are exploring these new models, and trap in rap.

Anyone can try to contribute, like in almost all DAO organizations, where you grab everything and say, "Let's see what 's happening here, what are they doing? What direction does this cool organization want to go in? I can help with, I don't know, this here." Maybe I can make posts on Twitter to help with marketing. I mean, look, I know code, so I can help build this next Smart Contract that needs to be done.

So it's much more open, much more flexible, the way one can join. But well, we'll see more of these things little by little. So what does Nadal mean? It's a decentralized autonomous organization, and we need to explain each of these words, at least how this concept started. Decentralization is mainly because the idea is that this is collectively owned, something that belongs to the community, that is part of this organization, that can be led by that community.

It's not just a nice thing to say, but there's a direct way in which what the community thinks the organization needs to do can be translated into the strategies and actions that the organization adopts. Okay, so imagine how it would be if we didn't have to, I don't know, go through a mayor or a government official to be able to bring proposals that we see should change in our communities, or what would happen if, in the company where you work... can really give your opinion directly on what you 're seeing because you're working, because you don't know, you have direct interaction with a client and you observe a need. Instead of going through bureaucracy, I have a more efficient way to propose these changes that you see as necessary. What would happen if we could actually adopt these decentralization models, even if it's progressive, which we'll also talk about a little bit.

Oh, and this concept of organizations that are flexibly organized is just as I mentioned, it also allows you to collaborate with a DAO much more easily, either by acquiring the token or often simply by contributing, helping the organization to execute what it needs, whether it's completing a specific task or adopting a project. And in return, you get the token that allows you to participate. They aren't autonomous because the rules and the way the treasury and the organization's funds are managed use blockchain to be able to track and observe how one can interact with the organization. Because, well, we've been seeing all day what the advantages of blockchain are, how different industries and fields use this same transparency that we It can be useful in some aspects. For example, what they mentioned about art, not traceability, what they mentioned about how it can be used in finance can also be applied to how one can trace the way one has a voice, and a voice precisely, right?

And how that vote that one can have will have a direct impact on how the funds are invested, the treasury of the organization. All of this is managed through smart contracts, and in fact, the initial dream was that everything would be completely automated, not that humans would have, we humans would have, like, two voices and votes, but everything would be managed by the code, and the code was law, no, the code is law. That was like the first way in which the concept was described. But well, let's see how that has been changing over time, and well, mainly, you know, here I would have to organize it better. In fact, organizations are, I think, the most important part of all this.

I 've heard a lot of people talking about data when they're looking at it from a technical perspective and they forget that the most important thing is an organization. I mean, if you have a smart contract and nobody is Interacting with your organization, if you have a token and nobody uses it to vote, nobody has a say with it, nobody really uses it, it doesn't matter, you don't have an organization, it's not serving to organize the people and the resources you might have as an organization. So this is one of the main parts for this: to coordinate, to be able to execute towards a common vision that you can build, and to round this out, and then we're going to dissect each of these little parts that are underlined, they all look almost the same: a group of people with a common goal who can make decisions and coordinate the distribution of their resources through the blockchain. That's how we can write the blockchain. Now we're going to see how it manifests itself in different elements, as if you remember the IFA conversation, where Crypto Girl, Demon, and Legos were mentioned.

Here we can also start to observe organizational Legos, these organizational blocks that allow you to build different models of organizations because definitely not all are the same. But first, we're going to take a look at the history of blockchains and how they have evolved over time and how it has led us to where we are now. 2022, six years after this concept first materialized, in fact, there are some extended ones, the most important at the time. We've already seen a bit of what happened with DAO and with the hacking of the East Side, but that same year, 2016, wasn't all so turbulent; MakerRado was also born. It's a DAO that I've also mentioned before, and it still exists to this day.

It remains one of the largest and most interesting, with all the things they're creating. Besides, many other names have been emerging, but the one I wanted to mention a little more is this one here, very local. It's also very interesting from a perspective of what impact it had, because it was the one that introduced the concept—or rather, revisited the concept—of using a smart contract standard, RS20, so that it can be used. The way you demonstrate that you belong to a Moloch age, in fact, also as a small glimpse into why they're like that because they look like a demonic symbol. That's because they are.

Moloch is a Babylonian demon of the Great Organization and of chaos, and in these times Up until 2016, there's something very important that can be seen from the beginnings of crypto and blockchain. Many people were not only very intelligent and technically capable, but they also really liked the philosophical aspects behind all these things. Talking about blockchain was a conversation that started in the 90s, where they began to discuss how organizations could emerge using technologies that are leading us to a global community—not so much in the sense of globalization itself, but to combat the problems it introduces into society. And the concept of a model was something that also resonated because Moloch, like this demon—which is obviously a metaphor for how human beings seek their own benefit and have problems coordinating for the common good—was the demon to be defeated, literally. And in fact, it's still mentioned a lot in that way.

But a very gifted person is the one who introduced this RC20 standard, which allows new organizations to emerge and take this organizational block, this concept, and scale it. Types of organizations, then, that's where they introduce and start introducing these new technologies and begin to take them to different contexts. Although the vast majority were still mainly focused on having groups that invest in different things for different objectives and in different types of assets, and one important thing is that within this list here, Aragon is here because it's white-tailed, we were also seeing it, it's one of the ones we're going to see, and snapshot, these are here, and I wanted to mention them because during this time, especially I think it's 2017/2018, more of these projects started to emerge that are also managed like dice. But mainly they introduce tools, they introduce ways to create dice that don't require you to understand what's behind that RC 20, you can simply create something with a tool. Nowcode, no.

That is, it implies that you can create it understanding what's behind it as a concept but without the need to program, no, like for example, we just saw how you can create a ticket with NXS. And you don't need to do that, like you need to know what's going on, the code behind it, you can create it using Sticker, no, and there are other platforms that also These concepts are translated into dice. One of them is Snapshot, which allows governance, not voting, through any type of... Others include Smart Contracts, Dollhouse, and Aragon. They also have different levels of complexity and different use cases, but they are tools that would allow you to create dice without needing to understand, or rather, know how to program as such.

And these were the ones that laid the foundations and the fertile ground for that explosion of dice that began to be seen mainly, I think, around 2020-2021. No, if there is one in 2021, it has already been a completely Cambrian expression. I do n't really know where this graph, which is extremely small, if I'm not mistaken, is from July 2021. If I'm not mistaken, at that moment it was a fair representation of what was happening in the daos scene. This graph, like the dice scenario, and you can see that we are no longer just talking about dice, which is money, which is...

Define what you see as these blocks more focused on financial terms, but they introduce many other things. For example, there are DAO services that focus on enabling different groups of freelancers to coordinate and provide services together. For instance, here at DAO services, they have Fire Eyes, which provided consulting services in Tokenomics. Deep Down is more of a consultancy for the whole DAO issue, a very interesting matter. There's also Catin, a member of Obstacle, who is a member of the State, and they are lawyers and engineers understanding how to use smart contracts, but with the legal framework required to scale these types of organizations.

Then a wide variety of applications begin to emerge for these platforms. For example, Collector DAOs, which are those that buy on Stitch, can buy other types of assets but with more of a collector's incentive, not just an investment. There are also Protocol DAOs, which were the first to emerge. For example, there's Maker, which I mentioned suffered in 2016, and Uniswap, which has also been mentioned several times, and I think it's also interesting because it can be much more flexible. How can the concept of dice be understood and taken to a non-technical level?

That's what Social DAOS is all about. Social DAOS has a much more social concept. It has a clear identity of who it's aimed at, and with that, it starts to create a community. And that community pools funds using blockchain and invests them in the way the community proposes, which manifests that shared vision. For example, as I mentioned, what they do is help more communities use this technology; they can use tokens, the concept of dice, etc.

, to create the vision they have as a community. And also, to mention a few numbers, these aren't toy organizations; they are n't small experiments. They actually move a significant amount of capital. And as you can see, almost all the big ones are on Stereo because that's where it all started. This is where the vast majority of dice concepts have been scaling up.

If we look at the top 10, which I do n't think I have the slide for, there are some on other chains as well. In fact, there are some arrows that are also managed like dice. But speaking of languages, where are they? Where are the largest and most active ones? And as you can see, we 're not talking about tiny treasuries.

I mean, these aren't small amounts; these are organizations that manage a significant amount of capital and coordinate with many people involved in how that capital is used. Going back to what I was saying, look, this here could be like, what's three years? Half of this time period has passed, like, to this expression that we don't even mention anymore. We're just giving some examples because it would be impossible to list them all, because the format and the industries and sectors that this concept of dice can target haven't exploded that much. For example, new dice that are focused on media, on producing content, whether newsletters or blogs, being one of the most interesting cases, not emerging as a newsletter, then a podcast, and no, excuse me, the other way around: a podcast, then a newsletter, and then evolving into a dice, which we also have people doing previously.

There are people in the audience because they want to create informative content about it. So these are organizations that, if they had been able to coordinate the funds they are raising and reinvesting them in their causes, it would have cost them a lot if it weren't for this technology. And it has even reached the point where some of these organizations, like Campos, already have much more specialization. I, for example, focus a lot on how we can use blockchain to scale impact, and these are graphics from a book called "Impacted Impacted." In fact, I think we'll publish it in Spanish this weekend or next week.

I've also been helping to translate it. It's a book that helps to understand the landscape, but focused on impact, where we can see how different sectors support this regenerative economy—this concept of regenerative finance, which would also be super interesting to explore a little more later. But as you can see, there's also a map of different organizations that are also focused on different aspects of impact, whether social, cultural, or how Web 3D can be used to conserve hectares. Ace of the Amazon rainforest. How can Web 3 be used to fund decentralized science?

What is this concept here? So, given that they start to specialize more and more, but at the same time they start to collaborate with each other, since it was the complete ecosystem. Because being decentralized organizations, they have a much more flexible way, which is what we were mentioning, of working with each other. So, in fact, I think one way to start taking it to an even simpler concept is that you have given them their coordination units. They are the native way that now exists on the internet to coordinate wherever you are in the world.

In fact, one of the projects I have is called Impact at this Academy, and the team is this Italian father and son. I'm a guy from Chile who is currently living in London. We hadn't met before; we simply said, " We want to do this research, and how can we use Enerstis to create impact and scale it?" We said, "Okay, so let's start doing case studies," and the brothers interviewed people and saw, and then with that, we can help invest in the new projects they are doing. They have limited funds, or we even provide them with contacts.

So, we need to create this community to help people who want to explore Netflix and how it can be applied to impact. And the one we've coordinated is through crypto, through blockchain, but in fact, it's completely decentralized with our own token and so on. We've started as an organized community, which is something I'm going to begin with. So, here again is the concept I mentioned before: a community is a group of people with a common goal who can make decisions and coordinate the distribution of those resources using blockchain. And why did I want to show this here?

Because this is where I mentioned these organizational building blocks, these blocks that help us understand how we can use these tools. Because that's what technology is, in the end; it's a tool that should help us solve problems. And this is the concept: we have different ideas within the community that we start using. And when it works well in one community, we replicate that model for another because that's the way, that's the reason why everything has been so successful, so small, so fast. Almost all of this is offensive.

Almost everything here is open source; it can be replicated, carried out, transformed, and adapted to different organizations and different realities. These are some of the categories I wanted to show because there's the concept of ownership and identity—the fact that you own the organization you're involved with. You have a shared identity, you have associated identities, you have common goals you're setting, and you can make decisions; that is, you can actively participate in the governance of that organization you're joining. And that governance will impact how the treasury is used—all of that using blocks. So, moving on, a little more to the other side of what I wanted to mention today, how the concept has evolved.

Because if any of you have been exploring a bit about dice, or perhaps some of you experienced it in 2018, 2017, or even 2016, and then you've been seeing what's happened now, you probably see that... But this idea of who is a dice operator here doesn't appear at all on the autonomous side. I mean, it's not that everything is happening automatically; it needs people. It's not that it's decentralized; there are people who... Perhaps they're like part of a committee that makes decisions.

Or perhaps there are proposals about what to do, but only a few actually approve the investment of that capital. So what's really happening? We're talking about decentralized organizations. Can you be completely decentralized, completely automated, and I think this is where it's really important to do that reality check. We're actually talking about small scales.

A few hours ago, this works at scales; it's where we have spectrums of the most centralized as well as decentralized, and the same goes for Tomato. We don't necessarily have to start being 100% decentralized and 100% automated, and I think it's also important to be realistic. What is being 100% decentralized solving, or what is using code to automate solving? What things does it solve? What things doesn't it solve?

And it makes sense to introduce it little by little. I mean, in the end, again, everything we've talked about all day are tools that should solve real, tangible problems. So this is what has also led us to... We need to talk much more within different circles about those of us who are seeing how the concept of dice is evolving. We 're actually seeing more tokenized communities.

Perhaps the word "dice" needs to adapt and use a new way of writing it. For now, the meme we use isn't called "dice," but in reality, they're more like communities that use tokens to coordinate and use blockchain to do all the things they need to do. Many of them initially want to be 100% decentralized or, at some point, automate as much as possible. And I think this implies a significant learning curve that should also scale with the community and the organization. Remember, the most important concept behind these is that they are organizations.

As that organization evolves and understands how it wants to use different governance models, how it can create tokens that can adapt to that governance, the organization can grow at the same time as the technology it uses. Because there are those who have very advanced technology, if no one in the organization is using it, they really need to see the problem that this reboot solves with smart contracts and how those smart contracts are applied to each organization. And so, how I also wanted to mention the variety that exists, but especially how you can start getting involved, how you can start learning more. I think the best way to learn is by finding something that truly interests you. You don't necessarily have to be actively searching; you do n't need to be programmers or anything like that, or people who completely understand technology to get involved.

You can learn little by little, and I think learning in community is the most efficient way to really learn something and start sharing what you discover. But there are so many topics, whether it's because you like cultural topics, or because you like music, or maybe you're a marketer or a branding professional and want to explore with other advertising professionals. For example, Jump is an organized community that's currently being developed to welcome advertising and marketing professionals globally. It's quite interesting. And there's another one called Protein, which is for people in the tech field.

There are platforms for anything you can imagine; these platforms already exist or are starting to form. Or even if there's one in a field you'd like to explore, but you realize there are n't enough people around yet, you start asking around and talking. You'll find people willing to create something and experiment with the concept using blockchain, using this technology. More examples, I mean, really, everything. For example, one of the first artists to create Peruvian soldiers...

he didn't do it with this side, but with another side, which was photography. He collaborated with that. There's no photography, there are experiments, sitting around building decentralized cities where what they're doing is buying physical spaces and, through the governance they have with blockchain, thinking about how the governance of a physical space in a city could work in a literally decentralized way, where we all have a vote on how those spaces are managed. In fact, there's also a super interesting book about it that I think came out a couple of months ago, and well, that's really something I wanted to show. [Music]