What is a DAO & why is there an agreement?
A DAO (Decentralized Autonomous Organization) is a type of organization that is governed by rules encoded on a blockchain. Essentially, it's a way to create a self-governing entity that is independent of any central authority.
In a DAO website like Film.io, users are able to join and become part of the community where they participate in various activities and decision-making processes. To ensure that everyone is on the same page and understands the rules and expectations of the DAO, it is common to ask users to sign a DAO agreement. This agreement outlines the rights and responsibilities of members, as well as the rules for decision-making and other governance issues.
The advantage of a DAO is that it allows for a decentralized, transparent, and democratic decision-making process. Instead of relying on a small group of executives or a central authority, decisions are made collectively by members of the DAO. This can help to ensure that decisions are fair and equitable, and that the interests of all members are taken into account.
In the case of Film.io, the DAO is focused on the film industry and aims to provide a platform where creators, fans, and industry professionals can come together to fund and promote new projects. By using blockchain technology and the Go Score™ metric, Filmio hopes to create a more transparent and democratic film industry that benefits everyone involved.