Decentralized autonomous organizations as an innovative form of economic cooperation in the digital society

Abstract

Relevance of the research topic. Blockchain technology has become a new paradigm for<br> building decentralized systems that do not require the creation of a central governing body to organize<br> the cooperation and coordination of participants with different characteristics. The possibilities of<br> blockchain applications have already begun to go beyond digital finance and are increasingly being used<br> for the decentralized organization of communities and participants in digital partnerships. Decentralized<br> autonomous organizations (DAOs) built on blockchain technology represent a new form of collective<br> management in which communities are organized based on the decentralized infrastructure of the third<br> generation of the Internet (Web 3.0). In this context, as an innovative form of economic cooperation,<br> decentralized autonomous organizations have become an object of research interest.<br> Problem statement. The use of decentralized autonomous organizations as a form of cooperation<br> is a new and relatively unexplored area in economics. The role of DAOs in the system of economic<br> relations and their possibilities for digital partnerships remain unexplored. In addition, the use of DAOs<br> poses a number of opportunities and risks that can be identified through analysis and evaluation.<br> Objective and tasks of the research. The aim of the research is to determine the possibilities of<br> using decentralized autonomous organizations as an innovative form of economic cooperation in the digital<br> society. The tasks of the research include analyzing the mechanisms of DAO functioning, comparing them<br> with traditional organizational forms, and determining their possibilities for application in different fields.<br> Methodology of the research. The research methodology consists of analyzing scientific sources<br> and practical experience in the use of decentralized autonomous organizations. The research was<br> conducted by analyzing the main principles of DAO operation, their advantages and disadvantages<br> compared to traditional forms of economic cooperation. A comparative analysis was also conducted<br> to identify the differences between DAOs and traditional organizations. Finally, the possibilities of using<br> DAOs in different fields were assessed, taking into account the potential risks associated with their use. Presentation of the main findings of the study. The results of the research demonstrate<br> that DAO can be an effective form of organizing economic cooperation in the digital society. They<br> provide decentralization and autonomy, which allows avoiding many problems of traditional forms of<br> cooperation, such as management, power, and profit distribution issues. In addition, the application of<br> blockchain technology enables a high level of security and trust among participants.<br> Application fields of the results. DAO can be applied in various economic fields, such as finance,<br> logistics, agriculture, and others. This technology can also find its application in public projects, such<br> as charity and ecology. The digital nature of such an organization allows integrating any modern<br> technological advancements, including tools of artificial intelligence and decentralized finance. With<br> such characteristics, DAO is defined as one of the most interesting organizational innovations of the<br> 21st century.<br> Conclusions of the article. Based on the analysis results, we propose to consider the DAO<br> concept as an innovative technology of organizing economic cooperation, capable of responding to<br> new challenges through fast and remote organization of economic interaction, regardless of the<br> geographic location of partnership participants, based on trust and modern tools using distributed<br> ledger technology. This new form of cooperation, based on decentralization and autonomy, offers DAO<br> technology as a competing form that replaces standard forms of cooperation and Web 2.0 internet<br> organization. The unique feature of this form of economic cooperation is the absence of intermediaries,<br> as the terms of interaction are recorded in the program code and executed automatically, significantly<br> reducing costs and time for interaction realization.