Tuition Coins

TUIT Governance

Crystal Chain will use TUIT’s Development Reserve to create the Tuition Coin DAO which is expected to be released in the third quarter of 2023. The concept of a decentralized autonomous organization, or DAO, is also something that will likely factor into the future of organizations.

A DAO, or “Decentralized Autonomous Organization,” is a community-led entity with no central authority. It is fully autonomous and transparent: smart contracts lay the foundational rules, execute the agreed-upon decisions, and at any point, proposals, voting, and even the very code itself can be publicly audited. From governments to corporations, structuring as a DAO gives benefits that traditional organizational structures cannot provide.

Tuition Coin DAO will help streamline complex workflows with the help of blockchain technology. Smart contracts can be used to facilitate tedious processes that require long paper trails, like filing permits, granting approval, and so on.

Ultimately, Tuition Coin DAO will be governed entirely by its individual members who collectively make critical decisions about the future of the project, such as technical upgrades and treasury allocations.

Generally speaking, community members create proposals about the future operations of the protocol and then come together to vote on each proposal. Proposals that achieve some predefined level of consensus are then accepted and enforced by the rules instantiated within the smart contract.

The way we work has already shifted, and it’s not far-fetched to imagine a future where companies are structured differently. A DAO is a fascinating concept that has the potential to change how we do business and should be watched closely in the years to come Crystal Chain is embracing the change wholeheartedly.

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