Frequently Asked Questions

bindao.org is governed and powered by its members, more specifically by DAO Members who acquired a specific level of knowledge and reputation within the bindao.org
What makes us unique
Member-owned communities without centralized leadership.
A safe way to collaborate with internet strangers.
A safe place to commit funds to a specific cause.

Starting an organization with someone that involves funding and money requires a lot of trust in the people you're working with. But it’s hard to trust someone you’ve only ever interacted with on the internet. With DAOs you don’t need to trust anyone else in the group, just the DAO’s code, which is 100% transparent and verifiable by anyone.
This opens up so many new opportunities for global collaboration and coordination.

To help this make more sense, here's a few examples of how you could use a DAO:
A charity – you can accept membership and donations from anyone in the world and the group can decide how they want to spend donations.
A freelancer network – you could create a network of contractors who pool their funds for office spaces and software subscriptions.
Ventures and grants – you could create a venture fund that pools investment capital and votes on ventures to back. Repaid money could later be redistributed amongst DAO-members.

The backbone of a DAO is its smart contract. The contract defines the rules of the organization and holds the group's treasury. Once the contract is live on blockchain, no one can change the rules except by a vote. If anyone tries to do something that's not covered by the rules and logic in the code, it will fail. And because the treasury is defined by the smart contract too that means no one can spend the money without the group's approval blockchain. This means that DAOs don't need a central authority. Instead, the group makes decisions collectively, and payments are automatically authorized when votes pass.
This is possible because smart contracts are tamper-proof once they go live on blockchain. You can't just edit the code (the DAOs rules) without people noticing because everything is public.

Decentralized autonomous organizations help in empowering new prospects for worldwide collaboration and coordination among organization members. With completely transparent and verifiable code, DAOs could take away the need for trusting other members in the organization. Basically, decentralized autonomous organizations streamline governance.

The membership period is tacitly extended for a new contract period of 12 months. Membership can be terminated up to 45 days before the end of the contract. The Participant must terminate his/her membership by e-mail.

A new Participant is able to access the marketplace the first 4 weeks completely free of charge, if not cancelled before the end of the free trial period, the company will be charged the annual membership fee.