NEO DAO and MyNEO.org
According to our Road Map, the Italian version of MyNEO.org was to be published during the month of January 2023.
Following the ever-increasing growth of our community in Italy, My NEO Group has published in advance the Italian version of MyNEO.org which is already available HERE.
We've also updated MyNEO.org with all the new stuff. You now have access to more than 300 pages where you can find all the useful information and news about My NEO Group and all its subsidiaries and partners. Like new products, platforms, our compliance procedures, our licenses, what has been done so far, our road map, the explanation of all our products, our partner's etc..
A DAO or Decentralized Autonomous Organization, refers to a revolutionary way of organizing and managing the organization, using smart contracts and blockchain technology to ensure transparency, immutability, autonomy and security. It refers to a type of organization entirely controlled by computational algorithms. These algorithms are known as smart contracts and they determine the rules of cooperation between the parties involved in the DAO.
DAOs are not tied to any particular regulation or law due to the decentralized nature where the smart contract is executed and coordinated by the organization, the blockchain.
Likewise, these smart contracts can be as simple or complex as it has been decided to program. But they will remain transparent and immutable when published on the blockchain. This will allow everyone to review their operation and the rules that have been programmed inside, being sure that they cannot be changed in the future.
Being pieces of computer code, i.e. a purely digital language, they open the door to a new level of cooperation, being able to manage decision-making between humans, machines and other smart contracts (which can in turn be managed by other humans, machines and smart contracts).
This is why NEO DAO represent a powerful technological innovation. By redefining the way the different parties cooperate. This thanks to the fact that they allow the creation of an autonomous, self-managed, transparent and more efficient organization.
NEO DAO depends on a series of mechanisms that guarantee its operation at all times. The first of these mechanisms is related to the possibility of planning actions and executing them according to certain parameters. With this, NEO DAO acquires the ability to perform actions autonomously. Seen in a simpler way, this programming would become the set of rules that governs NEO DAO and the most common way to program said actions is through smart contracts.
The second mechanism is a consensus protocol. Its function is to ensure that the decisions taken within NEO DAO are taken by consensus of its parties. No factor outside the network and those who directly participate in it can alter them or lead them to make decisions.
Then, NEO DAO has a third mechanism which depends on the issuance of the NDT Token (NEO DAO TOKEN). The purpose of this mechanism is to guarantee a means that financially supports NEO DAO. In addition to allowing users to obtain the right to vote and at the same time being an exchange and economic reward mechanism.
Finally, there is a fourth mechanism whose purpose is to record everything that happens in NEO DAO. This task falls to the blockchain, where all information is stored for public viewing and to ensure its security. The union of these four elements is what allows the operation of NEO DAO at all times.