Slides from a presentation delivered at the Ethereum Meetup Warsaw on 28.04.2016. @maciejolpinski www.maciejolpinski.com

1. INTRODUCTION
TO
DAOS
DECENTRALISED AUTONOMOUS ORGANISATIONS
FOR NON-TECHNICAL PEOPLE
ETHEREUM MEETUP
WARSAW
@MACIEJOLPINSKI

2. HUMAN COOPERATIONAS WE TRANSITION TO THE DIGITAL SOCIETY WE NEED NEW COOPERATION METHODS
HUNTER-GATHERER
LOCAL
AGRARIAN
SMALL SCALE
INDUSTRIAL
LARGE SCALE
WORD OF MOUTH
DIGITAL
GLOBAL SCALE
WORD OF MOUTH PRINT COMPUTER CODE
LEGAL SYSTEMS ???

3. MONEY JOINT STOCK
COMPANIES
16th century
19th century
NATION STATES
PEOPLE INVENT ABSTRACTIONS
TO COOPERATE
21st century
???
?

4. SHARE
RISK/REWARDS
COMBINE
SKILLSETS
Sea trade was risky, risk
distribution provided
steady returns
Captains, crews, trade
routes
Surplus capital could
be reinvested into sea
trade
ALLOCATE
CAPITAL
EARLY JOINT STOCK COMPANIES

5. STARTUPS
are the engines of value creation in
digital economy
high risk/high reward activities with
strong network effects
winner takes all

6. PROBLEM:
VALUE CREATION GLOBAL AND DECENTRALISED
(WE ALL WORK FOR FB OR GOOGLE)
BUT WEALTH ACCUMULATION IS STILL LOCAL AND
CENTRALISED IN SILICON VALLEY

7. INDUSTRIAL ERA ABSTRACTIONS NOT ALIGNED
WITH DIGITAL ECONOMY
EVERYONE HAS ACCESS TO INFORMATION
FEW HAVE ACCESS TO INVESTMENT OPPORTUNITY
IN DIGITAL VENTURES

8. BITCOIN
the coordination network with software
based incentives
Bitcoin proved that people respond to
incentives expressed in computer code
Pure software with no 3rd party can
align human behaviours in the physical
world
PEOPLE RESPOND TO INCENTIVES

9. ETHEREUM - PLATFORM FOR PROGRAMMABLE
INCENTIVE NETWORKS
ALLOWS TO DESIGN INCENTIVE MODELS FOR OTHER
ACTIVITIES THAN JUST CURRENCY CREATION
ALLOWS DISTRIBUTION OF ECONOMIC
RISKS/REWARDS OVER THE INTERNET

10. DAO
incentive-based, economic
coordination mechanism on the
blockchain
WHAT IS THE DAO?
expressed in code and
transmitted via the Internet
allows people to participate in
risks & rewards of digital
ventures

11. TOKENS CREATE ECONOMIC LINKS
BETWEEN DAO PARTICIPANTS

12. WEB 3.0 - THE WEB OF
SHARED ECONOMIC GOALS
WEB 1.0
WEB OF PAGES
HYPERLINKS
WEB 2.0
SOCIAL NETWORKS
LIKES, FOLLOWS
WEB 3.0
INCENTIVE NETWORKS/DAOS
TOKENS
influence influence

13. ETHEREUM WON’T BE ABOUT BUILDING PHOTO
SHARING APPS.
IT WILL BE ABOUT DISTRIBUTING REWARDS FROM
PHOTO SHARING APPS. THIS IS THE REAL
INNOVATION.
IF WE HOLD THE SAME TOKEN, WE HAVE 'SKINS IN
THE SAME GAME'

14. ETHEREUM'S VALUE IS NOT IN COMPUTATION (IT'S
SLOW, EXPENSIVE)
IT'S IN BUILDING NEW ECONOMIC ALIGNMENT
SCHEMES (DAO) AT ALMOST ZERO COST. FOCUS ON
THIS.

15. PEOPLE/TALENT
WHO ARE THEY?
HOW MUCH 'SKIN IN THE
GAME' THEY HAVE'?
HOW MUCH DO THEY
LOSE IF DAO FAILS
PRODUCT
WHAT PRODUCT DOES
THE DAO OFFER?
WHAT IS THE MARKET?
HOW IS IT BETTER
THAN ALTERNATIVES?
COMPETITION
CAN YOU COPY THE MODEL
EASILY IF SUCCESFUL?
WHAT 'MOATS' DOES THE
DAO HAVE TO PROTECT IT
FROM COPYING/FORKING
BEFORE YOU INVEST IN A DAO...
REMEMBER THAT SAME OLD RULES APPLY