All You Wanted to Know About Newconomy DAO Club

All You Wanted to Know About Newconomy DAO Club

 
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The global Newconomy community has recently obtained a powerful set of tools. Recently we launched a new project and called it DAO Club, and in this article, we will provide an explanation on how it operates, which benefits it provides for the participants, and why we consider this club an absolutely unique media project on the global scale.

What is DAO, DAC?

As the name implies, the DAO, a decentralized autonomous organization, sometimes called a decentralized autonomous corporation (DAC), is an organization that operates autonomously on the principles of decentralization. This idea is the basis of crypto philosophy – the first cryptocurrency,  Bitcoin, is based on the same principles – it is completely autonomous, its coordination is carried out by using distributed consensus, while anyone can be its participant.

The DAO is being managed, grows and makes profits on its own – it does not require any management team. Generally speaking, DAO is a blockchain, managed by smart-contracts and people interacting with each other according to certain rules set by the network`s creators.

What are DAO tokens for?

With the help of tokens, DAO participants acquire the ownership of a share in a decentralized organization – by analogy with the securities in the traditional financial world. Meanwhile, the DAO is not a legal entity and is managed by a team of investors. Due to this fact, DAO members are highly interested in the development and expansion of the system.

How to establish order without any central authorities?

The absence of the central authority does not imply continuous chaos and disorder here. On the contrary, the DAO is an example of one of the most harmonious ways of community management.

Сompliance with community rules in the DAO is supported by two mechanisms

Yes, there is no pecking order in the DAO system, no bosses at all. The rules of the management adopted in the community are being implemented automatically – with the help of computer programs.

Due to the absence of superiors, the human factor is simply removed from the DAO. All people performing any work on behalf of the community are always hired by means of general voting. And if the performer does not cope with duties, participants can take their voices back, and a careless worker will be automatically dismissed. The smart contract will track the compliance with deadlines, and the community will get the desired result.

What is DAO Club?

DAO Club is a business club, a digital, decentralized and autonomous community. This is a full-fledged DAO project – coordinated, scalable, decentralized. DAO Club is a part of the Newconomy Ecosystem business network – a news portal that daily supplies its readers with the freshest content on the topic of cryptocurrencies and high technologies, twice a week conducting live broadcasts with market experts and organizing various blockchain events and a global online conference called Market Challenge.

Our club has its own virtual currency – NCM token. Club members have the opportunity to regularly get acquainted with the leading companies, trends and dynamics of the crypto market, get a detailed idea of the market situation and its exclusive analysis.

The whole ecosystem includes a regular online conference Market Challenge, Business Academy, DAO Club and the Newconomy business community, which includes 20 crypto funds, 10 crypto exchanges, 50 experts and more than a hundred of top blockchain projects.

How does DAO Club operate?

DAO Club holds regular weekly online meetings, every Monday and Thursday, and provides live broadcasts for the viewers around the world. On Mondays, you can hear key news and market analysis, on Thursdays, presentations of projects and top market experts.

Members of the club vote and decide which projects will be covered during the next meetings, and which experts will speak during the next streams.

What is the NCM token for?

At the moment, distributed tokens are a tool of influence in our community. The number of tokens you hold is a means to participate in decision-making processes.

With the NCM token, club members receive:

  1. Access to the community resources
  2. Unique content
  3. Network capabilities
  4. Can participate in community management procedures 
  5. Can participate in fund management operations

Each new Dao Club user receives 100 tokens. Each active user (we observe activity during the week) receives the additional 100 tokens. Users who have made a significant contribution to the development of the club immediately receive 1000 tokens. Projects that bring value to the DAO Club community receive 1000 tokens.

At the next stage, after the launch of the DAO on the exchange, the price of tokens will be settled, and NCM holders will be able to convert them into fiat money or other cryptocurrencies.

We invite everyone to actively join our community. The more of us it is, the more objective is the picture of the blockchain market that we see. We are standing for honest and objective news feed, fair business showcases and credible experts’ reports. Join us in DAO club, your opinion matters!