Introduction
Speed is a great business virtue. This describes the ability to get things done quickly but accurately by business setups. Although, various companies possess their peculiarities and strengths. One thing that has been generally lacking in most of these traditional businesses setup is speed. Other problems such as insecurity, the long line of intermediaries, the crude method of information storage and their effects have also been present. However, with blockchain technology and its great potentials came the start of something great in the world of businesses. Blockchain technology provided various capabilities such as greater security, immutability, increased ROI to businesses. This explains the rate of adoption and acceptance blockchain technology has received in the past decade. As of today, many companies have a cryptocurrency payment option to complete a transaction. Also, some others have incorporated it as a means of intellectual property storage. It should be expected that the acceptance will grow on a geometric level due to the demands of this technological age.
The proper blockchain implementation scheme through Geoma DAO
More and more companies and governments will use Blockchain technology. An even greater number will incorporate the use of DAOs. Although, for various reasons, the world and all companies need to tap into the blockchain idea through the decentralized autonomous organization system. DAO represents an organization that is run uniquely through encoded rules on a smart contract. Notably, all organisations have a structure that governs the way work is done and guides everyone to understand perfectly their individual functions. Through the use of blockchain technology, which establishes a non-hierarchical mode of organisational operation. Also, it utilizes blockchain technology to provide a secure online ledger that is capable of tracking financial operations across the board. However, it is imperative to know the best practice to replicate the organisational structure with the blockchain technology.
Geoma DAO, a specific decentralized autonomous organization developed to create cash flow and wealth opportunities for its contributors, can act as a consultant by partnering up these organization thereby helping them to find the right form and functionality for their needs but also develop the final product. In all traditional organisations, workers have a specified duty and relationship with the company. Their rights and obligations are put in check by legal contracts that are in accordance with the legal system of the country the company is operating. This guides operations and if anything goes wrong, the law comes in to settle the parties involved. On the other hand, DAO involves a number of people interacting with one and another through a self-run protocol. The people involved are charged with transaction confirmation, block security while being rewarded with a per cent of the token involved in the network. It is a typical smart contract that reduces cost and takes off too much duty from the shoulders of involved personnel. All through, the aim of unmatched transparency is maintained in the system. The effect of intermediaries and defined powers have been earlier established as the major issue that causes the slow rate of productivity in financial institutions and other companies, but Geoma DAO has all these effects eliminated and is living the proper blockchain dream.
USEFUL LINKS
Website: https://www.thegeomadao.com/
Whitepaper: https://drive.google.com/file/d/186LX27VMtGh3Pe6dDSXiIZ7LmvVdyeyP/view?usp=sharing
Telegram: https://t.me/geomachat
Twitter: https://twitter.com/thegeomadao
AUTHOR'S DETAILS
Bitcointalk Username: Chidoskim
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2652432
ETH Address: 0x4F70c5e328B15825Fa456a4F32fEeF315ba88FDf