Smart contracts to power day-to-day Web3 company operations

Read full article at Cointelegraph.com News.

Web3 firm MetisDAO Foundation launched Koris, a smart contract-based platform that allows decentralized organizations to operate and manage communities through an end-to-end operational infrastructure.

In an announcement sent to Cointelegraph, the company said that Koris aims to turn decentralized autonomous organizations (DAOs) into DACs or “decentralized autonomous companies” by providing an operating system consisting of various governance and management tools.

The team believes that while DAO platforms have collective decision-making and operational functions, they can be taken further by providing tools to help grow Web3 businesses.

Chelsea Kubo, the co-founder and COO of Koris, said that there is a growing demand for DAOs with increased management transparency. She added:

“These infrastructures and management models are reflected within a DAC, and KORIS works as a platform to help businesses excel in a web3 space. Having said that, it is only time until large enterprises and web2 companies begin to make this move.”

The project is currently in its closed beta phase. However, the company said that in the future, anyone will be able to create their own DAC on Koris. This includes established Web3 firms and people who want to start their own community.

Related: Sustainability: What do DAOs need to succeed in the long run?

DAOs have gained a lot of support to develop recently. Apart from Koris, the World Economic Forum (WEF) has also voiced its support for DAOs by releasing a toolkit on Jan. 17. The document contains the work of more than 100 contributors and aims to give a starting point for DAOs in developing effective strategies in governance, operations and legal matters.

In an episode of The Agenda podcast, co-founders of DAOs like TheLaborDAO and theCaféDAO sat down with Cointelegraph’s Jonathan DeYoung and Ray Salmond to discuss the state of workers’ rights in the United States. The group explored how DAOs can strengthen the rights of workers and how blockchain can play a part.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency