Thursday, June 20, 2024

Koris: A Smart Contract-Based Platform

The Web3 firm MetisDAO Foundation is responsible for the introduction of the smart contract-based platform known as Koris. By providing an end-to-end operational infrastructure, it makes it possible for decentralised organisations to manage and govern communities.

Even though DAO platforms already include collective decision-making and operational activities, the group is of the opinion that these platforms have the potential to be improved by the addition of technologies that aid in the expansion of Web3 firms. This is despite the fact that these platforms already include these features.

There is a growing need for decentralised autonomous organisations (DAOs) with greater management transparency, as stated by Chelsea Kubo, co-founder and chief operating officer of Koris.

She went on to say that “These management models and infrastructures are shown inside a DAC, and KORIS serves as a platform to aid companies in thriving in a web3 environment. DACs are used by many organisations.

Having said that, it is only a matter of time until large enterprises and web2 startups begin transitioning in the direction that is being discussed here.”

The project is currently operating in the closed beta phase at this point in time.

On the other side, the company has said that in the not too distant future, any single person will be able to create their very own DAC on Koris.

This comprises both private persons and businesses who have already established themselves as leaders in the Web3 industry and are interested in establishing their own communities.

In recent years, decentralised autonomous organisations (DAOs) have been granted a substantial quantity of aid in order to further their growth.

In addition to Koris, the World Economic Forum (WEF) showed its support for decentralised autonomous organisations on January 17 by releasing a toolkit (DAOs).

The purpose of the paper, which is the result of contributions from more than one hundred individuals, was to serve as a jumping off point for decentralised autonomous organisations (DAOs) as they seek to develop effective solutions to issues of governance, operations, and legal compliance.

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