Exploring the Landscape of Decentralized Autonomous Organizations: A Comprehensive Review of Blockchain Initiatives
Oluwaseun Oladeji Olaniyi *
University of the Cumberlands, 104 Maple Drive, Williamsburg, KY 40769, United States of America.
Samuel Oladiipo Olabanji
Midcontinent Independent System Operator (Miso Energy) 720 City Center Drive, Carmel, Indiana 46032, United States of America.
Olalekan Jamiu Okunleye
University of the Cumberlands, 104 Maple Drive, Williamsburg, KY 40769, United States of America.
*Author to whom correspondence should be addressed.
Abstract
The present study aims to investigate the DAO initiative and scrutinize the diverse methodologies researchers employ for data collection in this area, highlighting any unresolved problems or limitations and suggesting approaches to enhance blockchain technology for future investigations. A remarkable blockchain initiative is the decentralized autonomous organization (DAO), a decentralized blockchain technology system that lets people self-govern through self-executing rules. The methodology is a qualitative analysis that uses contractual and business aspects to create a legally binding smart contract for DAO collaborations; thus, SPESC and Symboleo are smart-contract languages (SCL) that can involve IT and non-IT individuals in contract development. Blockchain technology has created Decentralized Autonomous Organizations (DAOs) that perform autonomously through smart contracts within their ecosystem without the necessity for centralized control or third-party intervention.
Keywords: Blockchain technology, smart-contract languages, decentralized autonomous organization, global economy