Blocks DAO LLC is one of the newest registered DAO in the decentralized space that promises to provide blockchain solutions to businesses and companies looking for better automation. The business sector is rapidly changing in terms of how enterprises are run, thanks to technology. Companies that are yet to come onboard with present reality and still rely on human endeavors to run an infrastructure are left behind. The rise in technology has enhanced automation and made businesses run far better than before. The BLOCKS intend to provide speedy and secure solutions to enterprises that still utilize old Infrastructure systems affordably.
BLOCKS is the first legally registered DAO LLC that operates on a peer-to-peer model to make non-hierarchical decisions that affect the community. By being a DAO, the company has no centralized authority, different from the regular hierarchical system that operates with selected people that make decisions on behalf of others. DAOs advocate for inclusiveness, transparency, responsiveness and runs on the core ideology of decentralization. This is what BLOCKS is.
BLOCKS Runs on Decentralized Protocol
DAOs are innovative in the crypto space and are becoming popular. BLOCKS aims to use this model to migrate traditional businesses onto the blockchains. BLOCKS intends to use its tokenized community as a launching point for its DAO. Holders of the protocol's token $BLOCKS will be tiered based on their holdings. Each tier member will have its own influence in the community's decision regarding funds allocation and others. Voting and polls would be based on the tiers. BLOCKS DAO will leverage the asset tokenization ERC-777 on Ethereum to enhance its oracle and trading functionality.
However, the tiers don't prevent the community members from contributing to the organization's running for the benefit of the DAO. Each member and the entire DAO adheres to the agreement as stipulated through smart contracts. Unlike hierarchical systems, handling is automatic and not susceptible to manipulation.
Why BLOCKS adopted the decentralized model can be summarized as follows;
- Network/ hardware resources: with a decentralization model, resources are owned & shared by members, so that maintenance becomes easy. Data can only be added through group consensus.
- Control: DAOs are autonomous and decentralized, so no one controls or owns the data, as it belongs to everyone. Each member has a copy of the distributed ledger.
- Security: DAOs are overly secure and become more secure as the number of members also increases.
As part of its vision to offer secure blockchain services to businesses, BLOCKS plans to develop multi-sig wallets for cryptocurrency transactions, where each wallet requires private keys to validate transactions. Multi-sig wallets will prevent cyberattacks and eliminate any security concerns. With multi-sig, users and members of the DAO can enjoy credibility in the digital space, thus providing an alternative way for people to secure their funds and organize crypto investment activities.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.