Maybe you’re not just interested in your local governance matters as you’re tired of the tortoise pace at which decisions are taken amidst corruption routines and unequivocal bias.
It’s how traditional and modern bureaucracy is, there’s a whole lot of hierarchy, complex administration processes, and ruthless manipulation of power.
All that can change! Well, not in a fortnight but over time. The foundational stones are already being placed. If you’re thinking about what’s going to create this new paradigm shift in governance, you don’t have to stretch your head further.
It’s DAOs i.e. decentralized autonomous organizations that are going to create an impact on how local governance can be transitioned into administrative quality for the good.
In this article, we’ll explain why City DAOs are rising and how they can enhance the effectiveness of local governance. Stay tight as we go on an exploratory ride, revisualizing the entire framework of governance.
What is a DAO and Why Do We Need It?
DAO works by issuing smart contracts that determine the protocols and rules by which they operate. Initially, a group of people having a shared vision and business objective come together and form the decentralized autonomous organization.
To enforce transparency and automation of business processes, they devise smart contracts using the underlying blockchain-coding programs and languages. Once the smart contract is written, it governs the principles by which the DAO operates and suggests to new members who are interested in joining the organization that these are the rules they have to follow.
Checkout our article on DAOs and How DAOs are impacting the way businesses Operate! to know more about DAOs!
City DAOs — A Larger Vision Transforming Local Governance
The nature and behavior of a DAO is pretty simple. They evolve out of a need and simply mature into solving critical business and social issues. Currently, there are various types of DAOs such as Investment DAOs, Grant DAOs, Crowdfunding DAOs, and several more.
Now when you take this concept to a bigger picture, you find yourself imagining things on a whole new level. That’s when you begin to think about the concept of a City DAO where a decentralized autonomous organization carries out the entire administrative process and overseas local governance measures.
A City DAO is basically an organization that works on the principles of decentralization and automation that drives active community-building measures and enhances the effectiveness of policy making.
It’s not a high falutin’ myth that we’re talking about. There are already so many projects being implemented that carry the proposition of a City DAO.
The best example is a project namely City DAO that was built to allow the people residing in the rural region of Wyoming to manage the ownership of land via a blockchain platform.
This solves the underlying giant investor/ real estate menace wherein they get in to pool in their money to outlandishly buy a property or land. Everybody in the village has an equal right to own property or land via the digitalization of property tokens in the blockchain.
Several other DAOs such as CityCoin are also embracing this style of decentralized governance. When the concept of a City DAO goes mainstream, local governance will transition to a level wherein decisions are taken via an equivocal bias.
How City DAOs Can Enhance the Effectiveness of Local Governance
There are practically many ways by which a City DAO can enhance the efficiency with which decisions are implemented and how they can involve localities in making their city a better place to live. Let’s look at some of the problem statements that this type of DAO can solve.
1. Enhance Voter Participation
With the entire voting system being shifted into the online landscape of blockchain platforms, people can be assured of their vote not being duplicated or mis-utilized as the digital ledger imprints all the votes and creates a strong protocol of immutability. The voting sheet can also be made open once the results are issued to validate the authenticity of the results.
2. Managing Authentic Public Records
A great problem solved by a City DAO is the management of authentic public records. Most ruling parties have false forged copies of funding schemes and records to leverage their personal asset score and land up as corrupt politicians.
When a DAO comes to power, all decision-making and funding records will be managed within a blockchain platform where everybody partaking in the decentralized governance model can view any given fund allocation scheme and project execution. The ledger will track all the activities of the administrative board and update itself each time there’s any fund allocated or decision implemented.
3. Implements Governance Decisions Effectively
As a smart contract holds the constitutional rules of the City DAO, decisions can be taken and implemented only within the supportive framework of the blockchain contract. This automates decision-making routines and regular administrative processes. Once the predetermined condition is met, the smart contract automatically executes the particular administrative or fund allocation process.
When there’s an income tax bill or property tax bill paid to the DAO, the smart contract will allegedly allocate the fund to the right cause which removes the need for a treasurer or unnecessary bureaucratic interruptions. City governance will be enhanced qualitatively as decisions are quickly but effectively implemented and development bounds exponentially.
4. Transparency in Decision Making
The core of the decentralized autonomous organization model is transparency as every member of the organization has an equal say in administrative and fund allocation matters and decisions are taken in an equivocal bias. This necessitates a healthy governance model where every voice is equally heard and decisions are taken based on majority votes.
The Future Looks Imminent for City DAOs!
Hope we’ve shed some light on how the concept of a City DAO could work to negate the complexities of modern bureaucracy and enhance transparency and effectiveness in decision-making routines. Although it’s the nascent stage where DAOs are getting popularized and being used for specific tasks such as crowdfunding and grant proposals, they are evolving on the sidelines.
You can play a major role in visualizing the emergence of City DAOs by and other latest Web3 and blockchain trends by following IBC Media on our website and social media channels.
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