Member-only story
When people talk about a DAO (Decentralized Autonomous Organization), they sound to me like they are talking about a Kibbutz. An Israeli socialist community. I am a native-born Israeli.
The Kibbutz
A Kibbutz is an original Israeli social invention. An intentional community in Israel that was traditionally based on agriculture. The first kibbutz was established in 1909. Today, farming has been partly supplanted by other economic branches, including industrial factories and high-tech enterprises. The Kibbutz began as a utopian community, a combination of socialism and the rise of the Israeli national movement.
The basic tenet of the Kibbutz was
Everyone will contribute according to his/her capabilities
To everyone, we will give according to his/her needs
Decisions about governance in the Kibbutz are discussed and voted in the general assembly of the members. Each member has equal voting power.
The DAO
A DAO is an organization governed by its members, with decisions obtained through voting. The voting power of a member is relative to the number of tokens of the DAO that the member owns.
There are variations of this idea, but the general concept is voting power relative to the amount of token ownership.
