To be of real utility, DAOs must be empowered with blockchain infrastructure and operational tools, apart from collective decision-making and asset control, so that they can function as standalone enterprises with their own departments & executives to handle these.
USA - February 9, 2022 /MarketersMEDIA/ —
The most common and widely agreed-upon idea behind Decentralized Autonomous Organization (DAO) is it is governed collectively by teams behind it.
Though new, the idea is gaining ground for its ability to automate democracy and transparency in the most real sense.
From closed-door decision making to blockchain-based voting on proposals, from assets in the hands of a few to collective control over it in MultiSig wallet, the solutions are ever-evolving with the need for real democracy, transparency and accountability.
However, to be of real utility, DAOs must be empowered with blockchain infrastructure and operational tools, apart from collective decision-making and asset control, so that they can function as standalone enterprises with their own departments & executives to handle these.
With Equinox Business, we came up with a vision to make the World full of Decentralized, Democratic and participative Enterprises.
These DAOs will effectively control their stakeholders by holding their Governance Tokens (G tokens) and utilizing smart contract backed protocols to Vote on proposals, remove teams behind DAOs, and monitor business activities by accessing DAOs functional data all over blockchain.
Moreover, apart from the common goal of Democratization, In Equinox dApp, the DAOs are provided with an ecosystem to use an on-chain Business suite.
Keeping things on blockchain is the immutability of data, automating functional data disclosure for stakeholders, protecting from manipulative practices & corporate corruption, and providing a wide overview of the DAO to their stakeholders on how things are proceeding in the Organization.
We strongly believe that the immutable and unaltered data available will be the building block for accessing the performance of DAOs and the capacity of their executives.
While DAOs are conventionally be using the Business software in Equinox, their G token holders will have read-only access to the data stored over a blockchain.
Importantly, this data is 100% unalterable by DAOs however, internally, as the activities demand, they may change it accordingly, and the updates will be deployed & stored on a blockchain.
It’s simply a part of the business to go through various appraisal processes; however, with DAOs instead, the appraisal and wider review should be the mandate of people who trusted and poured their funds into these DAOs as it will be in Equinox Business (V 2.0).
The need of the hour is to offer startups with their digital tokens to organize as a professional entity by providing them with a blockchain-powered decentralized ecosystem which is non-existent to date.
The bright side is Equinox Business is building the first such ecosystem on Binance Smart Chain. The application is live on BSC testnet at app. Equinox.business includes tons of decentralization tools such as:
Teams with valid credentials can register themselves as an ORG 3.0 (Operations and Resource Group) based on semantic web technology.
These teams can deploy their business projects over blockchain and create a Governance token (G-Token) for every project.
While creating projects, teams have to create a blockchain-based MultiSig wallet for crypto assets management.
These G-Tokens can be distributed among investors & stakeholders or can also be used to raise crypto with ‘Unified ICO Interface’ to meet projects fundraising needs.
In addition to this, the ecosystem comes with an Enterprise DEX (Decentralized Exchange) to list the G-Tokens for conventional trading and the use of De-Fi tools.
The G-token holders are the ultimate controller of the ORG 3.0. They can revoke team access, approve new teams to manage existing teams, and vote on ORG 3.0 to approve or disapprove it. With this, Equinox Business has extended the concept of DAO (Decentralized Autonomous Organization) in a useful way.
The teams behind the project can create proposals that are open for a vote by their G-Token holders, and the fate of such proposals depends upon the quorum under voting.
These are some of the features that the team behind Equinox Application claims to offer in weeks to come.
CEO of Radius Valley Fintech Pvt Ltd Tushar Singh Sengar said, “This is the MVP (Minimum Viable Project) of the application. ERP grade business management tools & and own public blockchain is in the development phase and will be integrated with the platform in Version 2.0 once we are ready with it.
Readers may visit www. Equinox.business to know more about the project and connect with the team behind Equinox Business over their social channels through the links available on the website or may ask questions & resolve queries on the telegram community t.me/eqxcommunity.
Contact Info:
Name: Tushar Sengar
Email: Send Email
Organization: Zoho Corporation Pvt. Ltd
Website: https://www.zoho.com/
Source URL: https://marketersmedia.com/building-zoho-one-for-decentralized-autonomous-organizations/89063387
Source: MarketersMEDIA
Release ID: 89063387
