A decentralized autonomous organization is an entity in a digital system facilitated by smart contracts. Smart contracts involve digital tools and protocols that help support specific transactions or other contract elements. The decentralized autonomous organization works with popular cryptocurrency and digital ledger operations that many world governments and businesses are moving towards for more transparency and for evolving anti — corruption innovations.
Over the years, crowdfunding has become an effective alternative for entrepreneurs to raise funds for their business ideas. Crowdfunding allows entrepreneurs to raise capital without giving up too much equity. This avenue also provides an alternative to those who may have difficulty gaining access to traditional sources of funding. Indeed, many have had enormous success using this approach to attract significant resources.
DAOX solves these problems.
Create & Manage Fundraising DAOs
DAOX is unique in the industry in the sense that it brings together each startup and its investors to interact through DAO. All DAOs also are completely on their own, separate even from the platform developers. DAOX is making use of this digital system to create an investment platform with the use of blockchain technology to solve the problems of ICOs, crowdfunding, and crowdinvesting using cryptocurrencies.
The idea behind DAOX is to help investors and project authors work together for a win — win outcome and make crowdfunding through digital currencies efficient. These goals will be realized by addressing the following concerns:
- Risk of fraud e.g. funds may be used for different purpose than what was initially disclosed, the creator may also portray an idea he/she doesn’t own. With the use of DAO such funds are stored in an organization and the startups request for such funds after proving some level of success in keeping up with the roadmap.
- Need for legal certainty — startups trying to operate as DAOs are, in need of legal framework that allows them to conduct business not only within the closed world of a blockchain network but to interact with the physical world, the world of traditional financial instruments and that of intellectual property. Hitherto, the legal fees have been exorbitant but DAOX is creating an AI –based service that enables users to get the required documents automatically.
- The blockchain technology is complex with non-users and so discourages them, the reason for the low participation in crowdfunding that has to do with cryptocurrency. The DAOX platform addresses this concern.
- Freelancers are actively engaged in the marketing and a remuneration package from the funds contributed to the project is set aside for them. The traditional market strategy had not been effective.
- There is the problem of complexity in the use of the technology. DAOX ensures that the features are made easy for use, and so, expertise is no longer a precondition for usage. Traditionally, the process of attracting investment is time consuming and energy exerting. In this age of smart business this is not good for all stakeholders, and so by creating an interface for all concerned, DAOX and other related services make it possible to reduce the amount of time and work. This enables particularly the project author to concentrate on the most important thing — product development.
To Find out more, visit https://daox.org/
Or read the Whitepaper: https://daox.org/daox-whitepaper-eng.pdf
Join the community and conversation on Telegram: https://t.me/daoxchat
Twitter: https://twitter.com/daoxorg
BitcoinTalk: https://bitcointalk.org/index.php?topic=2811642.0
Reddit: https://www.reddit.com/r/DAOx/
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