Daox is a good example of DAO(Decentralized Autunomous Organization) that is deployed to solve problems and challenges associated with blockchain startups and ICO’s. The introduction of Blockchain technology has given the digital world a secure digital ledger to track financial transactions. Hardened against forgery by trusted time stamping and through the dissemination of its distributed database, a Decentralized Autonomous Organization (DAO) provides business owners a collective way to manage their company transparently and more efficiently. By eliminating the need to involve a mutually accepted trusted third party in a financial transaction, the focus of a DAO is not entirely on company creation, but on establishing a set of standards for decentralized businesses.
Daox is a virtual solution that aids startups and investors launch Fundraising DAOs on the Ethereum blockchain. Daox in a virtual sense mimics the real world companies by having a smart contract instead of a legal body , cryptocurrency takes the place of a censored regulative bank account, in place of shares they have tokens, and exchange of a restrictive jurisdiction for a borderless blockchain network. The official token for the Daox ecosystem is the DXC token.
Most of the earlier blockchain projects and start-ups before the emergence of Daox has numerous challenges such as: high investment risks, complexity of tech, expensive legal support, inefficient marketing, lack of transparency, fraudulent activity, low success ratio, volatility of cryptocurrencies, unpopularity, and scams. Daox tends to solve the already existing problem thus:
1. Solving current major problems related to ICO fund raise.
2. Substantial increase in the popularity of crowdfunding in the society by creating the deserved confidence in the community and investors .
3. Providing conditions when the key factor for success in attracting investments is potential and quality of the project, not the ability to attract investments.
4.Implementation of the software solution that will allow to create and manage multi-functional decentralized autonomous organizations on the Ethereum blockchain.
The strength and feasibility of this project lies in the strong USE CASE, INEXPENSIVE NATURE OF TOKEN PER UNIT and AVAILABILITY OF RETAIL INVESTMENT. These coupled with a strong formidable team and a crew of advisor led by Oleg Gaidul is a big boost. Daox project has so far attracted an active community of over 25k which is still growing. Currently, Daox project is still in its bounty and ICO stage with a total of 3,000,000 DXC tokens only to be circulation.
Daox can be located in the various online platform with these details: