IEEE@HOME BLOCKCHAIN SERIES 2022: Evolving to a DAO: How can we make successful DAOs?

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Evolving to a DAO: How can we make successful DAOs?

The core idea of a decentralized autonomous organization (DAO) is to create an entity that has no central leadership and has a bottom-up decision-making model that is governed by the community.

Blockchains enable DAOs by codifying relationships and decision making by means of a smart contract. The smart contract defines mechanisms for the community to govern the decision-making process in a DAO. One of the main problems that DAOs solve is the principal agent dilemma. The asymmetric channel between a principal (such as the principals) and agent (such as the CEO) causes mistrust which creates an unstable equilibrium.

DAOs on the other hand have run into their own issues. Being a very new technology and with very few guidelines around them there are several concerns of legality, security, and structure. Another issue that has been found is that investors in the DAOs are not necessarily specialists and often make investment decisions that are naïve and scantily informed.

This presentation focuses on a systems theory approach informed by evolutionary game theoretic recommendations to build DAOs. These will be more stable formations and be beneficial to setting up a decentralized community of the future.


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  • Date: 28 Oct 2022
  • Time: 03:00 PM to 04:00 PM
  • All times are (UTC+02:00) Madrid
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  • Co-sponsored by IEEE Portugal Blockchain Group
  • Starts 21 October 2022 12:00 AM
  • Ends 28 October 2022 09:00 AM
  • All times are (UTC+02:00) Madrid
  • No Admission Charge

  Speakers

Nikhil Varma Nikhil Varma of Ramapo College of New Jersey

Biography:

Nikhil Varma is an Associate Professor at Ramapo College of New Jersey. He has a Bachelor of Computer Engineering from Birla Institute of Technology, Mesra, India and a master’s in computer engineering from Concordia University, Montreal, Canada. He also has an MBA from HEC Montreal and completed his PhD in Management from the same university.

Nikhil is also a guest professor in IIT, Delhi and Molde University, Norway where he teaches Supply Chain Analytics and Blockchain related courses.

Nikhil is currently working as a Web 3.0 subject matter expert (cannonball) at AlgoBharat, a partner to Algorand Foundation. One of the objectives of AlgoBharat is to help in the diffusion of Blockchain in India leveraging the India stack.

Prior To academics, Nikhil Varma spent time in the industry as a developer, analyst, management consultant and a project manager. He was also an Entrepreneur and started two companies. He was in the board of a public company that acquired his startup.

Nikhil is passionate about optimizing operations and using machine learning to develop efficient delivery platforms. He teaches Blockchain to Managers and has given lectures at several institutions and conferences on institutionalization Blockchain. He has co-founded a community based EdTech company that uses to power of community to rapidly develop content and disrupt the education market.