Abstract
Purpose of the research. Exploration of the research gaps in order to understand how DAOs can encourage initiatives/practices to protect the interests of various stakeholders as well as identifying and comparing the main problems and prospects for creating and scaling DAOs in the existing economic realities. The following hypotheses that DAO is a form of science-oriented entrepreneurship and creates opportunities for involving unused entities in diverse economic processes were analyzed. Methods of the research. The formation and justification of the theoretical basis of the research are carried out through a review of current literature sources. The hypothesis testing, measuring the advantages and disadvantages of DAO were implemented by combining qualitative analysis (structuring, benchmarking, identifying weaknesses and strengths) and quantitative analysis (three-dimensional matrix: structural blocks, advantages/disadvantages, criteria for inclusivity/science orientation). The advantages and disadvantages of the DAO were divided into structural blocks: leadership, team, management, and external challenges. Results. Tokens are the most universal equivalent of both ownership and rights, as well as work performed for DAO. Decision-making is carried out on the basis of token ownership. Depending on the flexibility, the rights of token holders may be predetermined or provided for the possibility of making changes. Depending on the direction of activity of the DAO, tokens give grounds to invest, manage, create and promote. The material availability of the token (earn or buy) affects the degree of coverage of potential stakeholders of the DAO project (the level of inclusivity). The technical availability of the token is related to the concept of science-oriented entrepreneurship (the level of technical skills and knowledge that must be possessed to attract DAO to its activities). Inclusivity is more often reflected in the advantages of the DAO. The very principles of functioning and management of the DAO imply a high level of engagement, as well as the most equal opportunities for blockchain technology enthusiasts. The development of the research and competence component in entrepreneurship is particularly relevant for the implementation and use of DAO projects. Science orientation is mainly associated with the priority of professional and technical skills for interaction with the external ecosystem (universities, consulting agencies, technology companies). Practical value/originality. The algorithm for creating and functioning DAO is based on the principle of inclusivity. Such advantages of the DAO as lack of hierarchy, earned leadership, responsibility for the work done, collective decision-making, transparency of management ensure maximum involvement of motivated participants and fair development opportunities. The criterion of science orientation is mainly revealed in the disadvantages of the DAO. There are potential restrictions on scaling DAO projects precisely at the level of professional and technical skills of participants. The active implementation of DAO in business activities is associated with the risks of insufficient skills and knowledge of interested parties.
Published Version
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