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<ul><li>A principal-agent problem is the conflict between a person or group and the representative authorized.</li><li>In DAOs, the decision-making power lies with the group instead of a central authority.</li><li>DAOs can be formed for any purpose be it raising funds for a war-torn country or pooling funds to invest in a project.</li><li>DAOs work for the benefit of the investors and not an ‘agent’.</li></ul>Many young adults who have just started looking at investments don't take the time to understand how to invest wisely. This is often because their focus is tangible goals like buying a car or a holiday abroad which is all here and now, not the future. Hence whatever investments they make just to save taxes are mostly uninformed choices either on their own or through investment advisors where their interests are not kept at the forefront. A testament to this is a recent case of front-running at a popular mutual fund house where the fund managers had a substantially higher income than their disclosed sources. As the mutual fund industry is highly regulated, this didn't take much time to come out in the open but unfortunately, the loss of income and trust doesn’t come back so soon. <div type="image" title="Rajagopal Menon, WazirX" msid="92412345" hostid="261" sizebytes="27762" caption="&amp;lt;p&amp;gt;Rajagopal Menon, WazirX&amp;lt;/p&amp;gt;"></div> This incident brings us to a classic case of a principal-agent dilemma. Investopedia defines the principal-agent problem as a conflict in priorities between a person or group and the representative authorized to act on their behalf. An agent may operate in a way that is contrary to the principal's best interests. So now, in the case above, you would have been one of the many principals (investors) who put the money in a fund and a power of attorney was with the agent (fund manager). So technically, the ability to make decisions with your money is not decentralized. If you realize that your fund is investing in something against the judgment of a more extensive investor base, there is nothing you can do. Now, how can <keyword id="2721952" type="General" weightage="20" keywordseo="crypto" source="Orion">crypto</keyword> change that? How can it give you the power to tell the Goliath what to do and, more importantly, what not to do for your benefit? DAOs ensure inclusive decision making This is where <keyword id="786882" type="General" weightage="20" keywordseo="dao" source="Orion">DAO</keyword>, or Decentralized Anonymous Organization, comes in. DAOs are decentralized business structures where the decision-making power lies with the group instead of a central authority. So if any updates or changes are to be made in the present system, forge partnerships or look at raising capital, these decisions are taken through votes. Hence, this process ensures inclusive decision-making across the group. The voting is done through a kind of token called governance tokens. These are utility tokens that represent every user’s stake in the project and the voting power of the stakeholder is proportional to the number of tokens that they hold. So, for instance, if person A holds 10 tokens vs. person B, who has 5 tokens, person A’s vote has a higher weightage. The most successful example of a DAO has to be MakerDao and its stablecoin DAI. MakerDao is a smart contract system that issues a stablecoin, DAI, pegged in value to the dollar, but it's not dependent on any kind of traditional financial banking system. A smart contract backed by a large pool of Eth maintains a peg to the US dollar. Data feeds provide the price of US dollars from the outside. Depending on the price, that's the amount of ether you can recover from one DAI. This means that this <keyword id="6357017" type="General" weightage="20" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword> doesn't depend on a centralized infrastructure. It has a stable value and you could extend this kind of model to not just the US dollars like you could have exposure to other real-world assets and commodities. A unique purpose DAOs are formed for a unique purpose that can range from something socially motivated like raising funds for a war-torn country to pooling funds so that a group can be investors in a project. PleasrDAO bought the sole existing copy of the album “Once Upon a Time in Shaolin” by the Wu-Tang Clan for a whopping $4 million and the original “Doge” meme NFT, for $4 million. This is one real-life case of how DAOs invest in something by pooling money and can later decide if they want to sell these assets for a higher price. And the decision to sell is based on voting. Surmise, it is for the benefit of the investors and not an ‘agent’. Other DAOs with social propensity are HerStory, which collects and funds projects by Black women and non-binary artists, and Ukraine DAO, which has raised more than $6.7 million in support of Ukraine's army. Though the concept of DAO exists on-chain and is popular with investors of DeFi (Decentralised Finance) presently, it is still a long way from going mainstream. However, everything digital we see today was once on the fringes. Nevertheless, there is a lot that mainstream finance can learn from such collaborative investment ecosystems. At least then, the focus will be for everyone to have their return on investment, not only the agent. This article is authored by Rajagopal Menon, VP Marketing at WazirX SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tata-consumer-sees-growth-on-the-back-of-starbucks-tea-and-salt/articleshow/92410036.cms">Tata Consumer sees growth on the back of Starbucks, tea and salt</a> <a href="https://www.businessinsider.in/careers/news/four-12-hour-days-or-five-10-hour-work-days-difficult-choices-ahead-of-a-4-day-work-week/articleshow/92409609.cms">Four 12-hour days or five 10-hour work days - difficult choices ahead of a 4-day work week</a>

Cryptos can change the way you invest, by taking the ‘agent’ off the books

<ul class="summary-list"><li>Ukraine began taking <keyword id="11955065" type="UNKNOWN" weightage="60" keywordseo="dogecoin" source="Orion">dogecoin</keyword> donations aimed at supporting its defense against Russia's invasion. </li><li>Vice Prime Minister Mykhailo Fedorov in a Twitter post called on <keyword id="11897862" type="UNKNOWN" weightage="60" keywordseo="elon-musk" source="Orion">Elon Musk</keyword> and other dogecoin owners to support Ukraine. </li></ul>Ukraine is accepting donations of dogecoin for its defense against Russia, with one of the country's top leaders calling on billionaire Elon Musk and other dogecoin owners to help support its wartime efforts. "We start to accept donations in meme coin. Now even meme can support our army and save lives from Russian invaders," wrote Vice Prime Minister Mykhailo Fedorov in a <a href="https://twitter.com/FedorovMykhailo/status/1498982855162175488">Wednesday message on Twitter</a>. He posted the message following Russia's apparent acceleration of its attack on the former Soviet republic. Russian forces on Tuesday intensified attacks in the city of Kharkiv by <a href="https://www.bbc.com/news/world-europe-60567162#:~:text=An%20opera%20house%2C%20concert%20hall,Russia%20was%20committing%20war%20crimes.">reportedly firing missiles</a> that hit government offices and hit residential areas. Fedorov, who also serves as Ukraine's minister of digital transformation, included the address of the country's official dogecoin wallet in the message to his roughly 180,000 Twitter followers. <a href="https://twitter.com/search?q=%24DOGE&amp;src=cashtag_click">"$DOGE</a> owners of the world,<a href="https://twitter.com/elonmusk"> @elonmusk</a>,<a href="https://twitter.com/BillyM2k"> @BillyM2k</a>, let's do it," Fedorov wrote in addressing dogecoin enthusiast and Tesla boss <a href="https://markets.businessinsider.com/news/currencies/elon-musk-dogecoin-fan-bitcoin-gives-power-rich-jack-dorsey-2021-12">Elon Musk</a> and <a href="https://www.businessinsider.com/dogecoin-go-back-down-right-now-price-livee-billy-markus-2021-4">dogecoin co-creator Billy Markus</a> who lists himself as "Shibetoshi Nakamoto" on the social media app. <a href="https://twitter.com/BillyM2k/status/1499022464902254593">Markus responded to Fedorov</a>, telling him that he "sent some" undisclosed amount of the meme coin. "dogecoin folks aren't usually rich and dogecoin itself is generally used for small transactions, but we are a caring and passionate bunch," wrote Markus. The Ukrainian government on Tuesday <a href="https://twitter.com/Ukraine/status/1498547710697345027">thanked the "global crypto community"</a> for making donations and said it was taking donations of <a href="https://markets.businessinsider.com/currencies/dot-usd">polkadot</a>, the native token of the Polkadot blockchain. Gavin Wood, Polkadot's co-founder, <a href="https://twitter.com/FedorovMykhailo?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1498704946702827527%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.cnbc.com%2F2022%2F03%2F02%2Fukraine-dogecoin-other-cryptocurrencies-accepted-for-donations.html">sent $5 million worth of the cryptocurrency</a> to Ukraine, according to a Tuesday tweet from Federov. Ukraine is also accepting <a href="https://markets.businessinsider.com/currencies/sol-usd">solana </a>donations, with Federov separately noting <a href="https://twitter.com/FedorovMykhailo/status/1498676695607480327">the creation of Aid For Ukraine</a>, a joint project the government has with the Solana Foundation and staking service platform Everstake. Ukraine also takes <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a>, <a href="https://markets.businessinsider.com/currencies/eth-usd">ether</a> and <a href="https://markets.businessinsider.com/currencies/usdt-usd">tether</a> donations. The Ukrainian government, along with non-government organizations and DAOs supporting the country, has received more than $52 million in <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> donations, Merkle Science, a blockchain analytics firm said Wednesday. Ukraine's polkadot wallet recorded more than $6 million in incoming transactions in the 24 hours since acceptance began, the firm said. Fedorov launched Wednesday's call for dogecoin donations by noting the meme coin's value has exceeded that of the Russian ruble, which has collapsed in the wake of Moscow's invasion of Ukraine.Dogecoin on Wednesday traded at $0.1345 to the US dollar while <a href="https://markets.businessinsider.com/currencies/rub-usd">the ruble was worth less than 1 cent</a> against the greenback.

The Vice Prime Minister of Ukraine says the country is accepting dogecoin donations and urges Elon Musk and other holders to help 'save lives from Russian invaders'

<ul class="summary-list"><li><keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">Bitcoin</keyword>, ether, and other digital assets have become an essential part of the <keyword id="13186997" type="UNKNOWN" weightage="60" keywordseo="ukraine-war" source="Orion">Ukraine war</keyword>.</li><li><keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> has raised <a href="https://www.elliptic.co/blog/live-updates-millions-in-crypto-crowdfunded-for-the-ukrainian-military">$22 million</a> through thousands of <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> donations since the start of the war.</li></ul>The world is leveraging an unlikely weapon amid the war in Ukraine — cryptocurrencies.Ukraine's digital wallets are collecting millions to fund the country's defense; the West is weighing possible crypto sanctions on Russia; a crypto collective called a DAO is raising money for Ukraine through an NFT sale; and crypto exchanges are being urged to block Russian transactions. The various moves are a sign of the times: a 21st Century world arming itself with digital currencies in an inaugural war of the crypto age.In a novel move, Ukraine's <a href="https://twitter.com/Ukraine">official Twitter</a> account shared its digital wallet addresses where people could send their bitcoin and ethereum, among other digital assets, <a href="https://www.businessinsider.com/ukraine-appeals-for-cryptocurrency-donations-in-tether-ether-bitcoin-2022-2">on Saturday</a>.The addresses, according to Elliptic data, have received $14.8 million to date, with bitcoin and ethereum making up a majority of the donations. Some people even donated NFTs of varying value to support the cause, including a "Mutant Floki."Meanwhile, a charitable group in Ukraine called <a href="https://markets.businessinsider.com/news/currencies/bitcoin-donations-to-ukraines-army-rise-as-russian-forces-advance-2022-2">Come Back Alive</a> collected $4 million worth of crypto to boost its efforts in supplying military gear and medical kits to the country.In total, Ukraine's government and other organizations have raised a whopping <a href="https://www.elliptic.co/blog/live-updates-millions-in-crypto-crowdfunded-for-the-ukrainian-military">$22 million</a> through more than 23,000 crypto donations since the start of the Russian invasion, according to Elliptic.Outside of the Eastern European country, where <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword> launched a full-scale invasion last week leading to widespread casualties, the West has also begun leveraging crypto in support of Ukraine.The US is <a href="https://markets.businessinsider.com/news/currencies/us-sanction-russia-bitcoin-crypto-access-amid-ukraine-war-2022-2">weighing limits</a> on Russia's access to bitcoin and other cryptocurrencies as part of its next wave of sanctions on the country, according to the <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Frussian-bitcoin-and-other-cryptocurrencies-could-be-part-of-future-sanctions-11645902740%3Fmod%3Dlivecoverage_web">Wall Street Journal</a>. The possible crypto sanctions would likely target exchanges that violate bans against transacting with blacklisted Russian banks and potentially limit Russia's ability to <a href="https://www.washingtonpost.com/technology/2022/02/25/cryptocurrency-ukraine-russia-war-impact/">seek refuge</a> in digital assets.Western sanctions already have begun wreaking havoc on the Russian economy and have crippled the ruble, making it worth less than even Robux, the digital token underpinning the Roblox metaverse, Litquidity found. Bitcoin trading volumes using the ruble and Ukraine's hryvnia have surged to their highest level in months, indicating the cryptocurrency could be more attractive in those <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword>, <a href="https://www.bloomberg.com/news/articles/2022-02-28/bitcoin-volume-spikes-in-russia-and-ukraine-as-sanctions-hit?srnd=markets-vp">Bloomberg reported</a>.Crypto exchanges are also being pulled into the conflict, with Ukraine <a href="https://markets.businessinsider.com/news/currencies/ukraine-russia-bitcoin-crypto-blockchain-war-donations-politicians-sanctions-kraken-2022-2">calling on them</a> to block Russian customers' accounts.Coinbase said it's working to block addresses in sanctioned areas and monitoring threat actors as part of its effort to "remain vigilant to ensure we are playing our part and meeting our obligations in the context of this rapidly evolving invasion." And FTX donated $25 to each Ukrainian on its platform, according to crypto billionaire Sam Bankman-Fried, who <a href="https://markets.businessinsider.com/news/currencies/sam-bankman-fried-crypto-ftx-ukraine-russia-cash-war-donations-2022-2">tweeted</a> "do what you gotta do." The company did not immediately respond to Insider's request for comment on any other actions it's taking.In true crypto fashion, though, crypto enthusiasts — separate from government influence — have mobilized their own efforts to support Ukraine. One involves a crypto collective called a DAO, short for decentralized autonomous organization, that is auctioning an NFT to raise funds for the Ukrainian effort. The highest bid for the NFT, which features a picture of the Ukrainian flag, is <a href="https://decrypt.co/93787/pussy-riot-trippy-labs-pleasrdao-launch-ukraine-dao">$3 million so far</a> with about two days left in the auction.Crypto's influence in the current conflict hasn't saved it from the broad market turmoil. On Friday, Insider reported over <a href="https://www.businessinsider.in/investment/news/russia-ukraine-conflict-wipes-over-200-billion-from-crypto-markets-cardano-avalanche-and-polkadot-worst-hit/articleshow/89804413.cms">$200 billion</a> had been wiped out from the crypto market amid the escalating Ukraine conflict. On Monday, however, cryptocurrencies staged a rally as delegations from Ukraine and Russia met for talks in Belarus.According to a Substack post from crypto influencer <a href="https://markets.businessinsider.com/news/currencies/bitcoin-ethereum-blockchain-ukraine-russia-war-conflict-europe-america-china-2022-2">Anthony Pompliano</a>, countries that have a big stake in bitcoin and pro-crypto activities "will have a significant advantage." For global superpowers, bitcoin "will be essential for decades to come," he wrote.

From sanctions to bitcoin donations, here's how crypto is playing a major role in the Ukraine war

<ul class="summary-list"><li>Former boxing champion <keyword id="13263272" type="UNKNOWN" weightage="60" keywordseo="wladimir-klitschko" source="Orion">Wladimir Klitschko</keyword> will sell NFTs to raise money for <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>. </li><li>"Vandalz for Ukraine: WhIsBe x Wladimir Klitschko" will be available at the three price points.</li></ul>Former world heavyweight boxing champion Wladimir Klitschko will sell non-fungible tokens in a collaboration aimed at raising money for his home country of Ukraine as it defends itself from <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>'s invasion. Klitschko teamed up with New York-based artist WhIsBe for the collection that will be released Wednesday on <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> marketplace OpenSea. WhIsBe is re-fashioning his "Vandal Gummy" bears artwork that features colorful gummy bears in police lineup photos. The new round of art with four NFT editions will be centered on gummy bears in the colors of the Ukrainian flag – blue and yellow. The "Vandalz for Ukraine: WhIsBe x Wladimir Klitschko" collection will be available at the $100, $1,000, and $10,00 price points and a 1-of-1 NFT will be sold for $1 million. Ukraine and its supporters, including NGOs and DAOs, have <a href="https://markets.businessinsider.com/news/currencies/ukraine-crypto-donations-russia-war-bitcoin-dogecoin-polkadot-ether-markets-2022-3">raised millions of dollars through cryptocurrency donations</a> and other fundraising efforts. Russia launched a full-scale attack against Ukraine nearly two weeks ago, with Russia shelling cities in the former Soviet republic. 45-year-old Klitschko, who won the World Boxing Organization's heavyweight title twice, reportedly has <a href="https://www.skysports.com/boxing/news/12183/12554668/ukraine-invasion-ukrainian-athletes-fighting-russians-include-vasiliy-lomachenko-oleksandr-usyk-and-the-klitschko-brothers">enlisted in Ukraine's reserve army</a> Klitschko's brother, Vitali, a former boxing champion who is now mayor of Ukraine's capital Kyiv, has also <a href="https://www.independent.co.uk/news/world/europe/wladimir-vitali-klitschko-fight-ukraine-b2027150.html">vowed to defend Ukraine</a> from Russian aggression. Proceeds from the "Vandalz for Ukraine" NFT sales will go to Red Cross Ukraine and UNICEF and participating partners will waive their fees. The sale will run for three weeks starting Wednesday.

You Searched For "ukraine dao" and got 4 results

Cryptos can change the way you invest, by taking the ‘agent’ off the books

Rajagopal Menon

The Vice Prime Minister of Ukraine says the country is accepting dogecoin donations and urges Elon Musk and other holders to help 'save lives from Russian invaders'

Carla Mozée

From sanctions to bitcoin donations, here's how crypto is playing a major role in the Ukraine war

Natasha Dailey

Ukrainian boxing legend Wladimir Klitschko will release an NFT collection to support his homeland's fight against Russia

Carla Mozée

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