Trend Analysis of Decentralized Autonomous Organization Using Big Data Analytics

Abstract

Decentralized Autonomous Organizations (DAOs) have gained widespread attention in academia and industry as potential future models for decentralized governance and organization. In order to understand the trends and future potential of this rapidly growing technology, it is crucial to conduct research in the field. This research aims at a data-driven approach for the objective content analysis of big data related to DAOs, using text mining and Latent Dirichlet Allocation (LDA)-based topic modeling. The study analyzed tweets with the hashtag #DAO and all Reddit data with “DAO”. The results were from the identification of the top 100 frequently appearing keywords, as well as the top 20 keywords with high network centrality, and key topics related to finance, gaming, and fundraising, from both Twitter and Reddit. The analysis revealed twelve topics from Twitter and eight topics from Reddit, with the term “community” frequently appearing across many of these topics. The findings provide valuable insights into the current trend and future potential of DAOs, and should be used by researchers to guide further research in the field and by decision makers to explore innovative ways to govern the organizations.

Enhancing the democratic nature of voting processes within decentralized autonomous organizations

“…Several authors proposed surveys or general discussions on DAOs, providing an overview of their characteristics, the challenges they entailed, the solutions they can provide to existing problems and other related areas (Wang et al , 2019; Altaleb and Zoltán, 2022; Augustin et al , 2023; Rikken et al , 2019, 2023). Other examples include works discussing: decision rights, accountability and incentives (Beck et al , 2018); governance problems and solutions, the typical DAO technologies and their related areas (Liu et al , 2021); the main platforms allowing the design of DAOs, and visualization tools for DAOs, as well as the authors’ own visualization tool (El Faqir et al , 2020); the use of blockchain and DAOs in education (Filipčić, 2022); the pros and cons of DAOs with a focus on its use in the nonprofit sector (Chao et al , 2022); various frameworks that can be used for the development of DAOs (Halvai and Chaudhry, 2023); the potential and challenges faced by DAOs, with an emphasis on decentralized governance and disintermediation (Bellavitis et al , 2023); legal implications of DAOs (Despotović et al , 2023); or trends and potential future research directions regarding DAOs emerging from the analysis of tweets and posts on Reddit (Park et al , 2023). In addition, Kondova and Barba (2019) highlighted the potential of DAO for the enforcement of the transparent governance principle, but encouraged caution regarding this innovation, considering the early stage of the technology.…”

Democratic Erosion of Data-Opolies: Decentralized Web3 Technological Paradigm Shift Amidst AI Disruption

“…Considering the arguments and counterarguments in this ongoing debate, an alternative and widespread reaction emerges from crypto-libertarian or pseudo-anarchist perspectives. This reaction has led to the development of an emerging body of literature on decentralized systems in peer-to-peer interactions [74], encompassing (i) blockchain [15,56], (ii) DAOs [28,29,31,74,85,86], and (iii) data cooperatives [13,20,34,35,37,56,73,[87][88][89][90][91]. This alternative viewpoint suggests an unexplored research trajectory that can interweave blockchain, DAOs, and digital citizens, potentially fueling a post-identitarian mobility pattern [17,92].…”

Developing Dimensions and Indicators to Measure Decentralization in Decentralized Autonomous Organizations

“…The examination of decentralization invariably revolves around the dynamics of power and resource allocation between central and decentralized entities (Schneider 2003;Park et al 2023). In the context of DAOs, the central entity is defined as the operating organization responsible for the DAO's inception, token issuance, and initial policy establishment because it has all the power and receives the resources first.…”