DAOs are Decentralized Organizations, are they Actually so?

Decentralized Autonomous Organizations (DAOs) are blockchain-based corporations whose operations depend on cryptography principles. The very nature of such organizations presents a culture shock because of the revolutionary outcomes they present. Their user-focused policies which undermine intermediary setups that make revenue from user data and identity ownership control are breathtaking. Despite the existence of most DAOs in trial stages, there are a lot of success stories that provide a chance for research on their effectiveness. The points of focus in the analysis of the organizations are decentralization, autonomy, and whether they are actual organizations. Are DAOs Decentralized in Reality? The theoretical framework of a DAO is based on the decentralized nature of its operations. The construction of the organizations on a blockchain platform is evidence of decentralization in theory. The blockchain ensures that all user nodes have a direct claim of ownership of user data and digital identity over the network. The lack of central entities such as privately owned service providers is indicative of a system that embraces decentralization. However, practical decentralization is another aspect to achieve considering the interests and conditions that prevail. DAOs will reach their intended level of decentralization based on the achievement of technological development that supports Web 3.0. The need for Web 3.0 to actualize DA...