DAO: Why Are We Talking About It?
DAO stands for Decentralized Autonomous Organization. Perhaps you’ve heard the term before, maybe not. In the world of crypto, it’s common to come across it, as many projects are implementing DAOs. They are indeed attracting more and more interest. But why exactly? What are they actually used for? Let’s break it down below.
A DAO is a Hierarchy-Free Organization
A DAO represents a new organizational model based on principles that are radically different from traditional structures. This is precisely why they are attracting so much interest.
- An Organization Without Leaders: DAOs operate on the basis of consensus. Decisions are made collectively by the members, each having a voting right proportional to their participation.
- Transparent Rules: All operational rules of a DAO are inscribed in smart contracts, lines of code that execute automatically on a blockchain. These rules are immutable and transparent to everyone.
- Decentralized Governance: DAOs have no headquarters and can be managed by members from around the world.
A DAO Brings Together a Community Around a Specific Token
To better understand how a DAO operates:
It is primarily a community of people who wish to come together to fund new projects, regardless of the topic. They can create the DAO themselves and issue a token (cryptocurrency) that grants them ownership shares and voting rights if they possess it. Members can then use this token to vote on projects to be funded, rules to be changed, and more.
What About the Galeon’s DAO?
Galeon’s DAO is, of course, part of the healthcare sector and DeSci (Decentralized Science). It brings together 40,000 investors who aim to improve healthcare systems and ensure access to healthcare for everyone. These pioneers unite around issues such as:
- The use of AI in healthcare
- The management of sensitive medical data
- Blockchain technology that connects hospitals with each other
- Advancements in scientific research…
This community consists of caregivers, doctors, surgeons, specialists, hospitals, innovators, and investors from all walks of life.
Thanks to the Galeon’s DAO, non-profit and open-source medical research projects are selected, voted on by the community, and then funded to aid scientific advancements. Every holder of $GALEON has a voting right within the DAO, even if they possess just 1 $GALEON. Thus, it is the Galeon health Pioneers community that finances and supports scientific research, rather than being entirely dependent on major pharmaceutical players.
If you want to join the community of pioneers advancing health and the future of care, simply invest in $GALEON here. You can also subscribe to our newsletter at the bottom of this page to stay updated with our rapidly evolving news.
Together, let’s continue to push boundaries by decentralizing science.
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