Introducing the PragueDAO
A Decentralized Collective Designed to Scale Tech Startups
Register your interest to join the PragueDAO today!
The PragueDAO is the first example of a DAO powered by DAOstack used to govern a physical space, and aspires to be the incubator of choice for decentralized tech startups in Prague. The experiment was co-funded by the Genesis DAO through a proposal on Alchemy, DAOstack’s first application designed for collaborative resource management.
The project is being spearheaded by Disrupt Digital , a digitally native, innovation obsessed Prague marketing agency. I had the opportunity to interview their co-founder, Clare Kennedy, for details on the PragueDAO and its upcoming launch.
Clare Kennedy is the co-founder of Disrupt Digital & the PragueDAO
Can you give us a little background on Disrupt Digital, the “Disruptive Collective,” and your personal history, specifically what draws you towards innovative technologies?
Disrupt Digital originated from a concept that was entered into and won a section in Ireland’s Best Young Entrepreneur way back in 2014. This eventually developed into a digital marketing agency that focuses on high potential startups in disruptive sectors. In addition to managing Disrupt Digital, I also work as a director of the Silicon Valley Accelerator, the Founder Institute, and this means I am exposed to a number of cutting edge ideas. The Disruptive Collective was a means to pull these threads together into an exciting project that could help nurture new ideas.
Why did you decide to help found the PragueDAO? What was your main inspiration?
The idea behind a ‘Physical DAO’ is something that is extremely intriguing for me. To pioneer anything for the first time is always exciting, especially in this case where if the experiment is successful it could have much wider implications. The fact that this was a proposal passed through DAOstack’s own experimental DAO, the Genesis Alpha, makes the whole project feel really unique. We’re seeing now DAOs that are able to propagate other DAOs independent of centralized control.
The PragueDAO will be conveniently located at Kodanska 47, 6th Floor, near the heart of the city. Photo courtesy of bezreality.cz
What is the primary objective of the PragueDAO? Where do you see it two years from now?
The primary objective of the PragueDAO is to pilot the idea of a physical DAO in an initial test space (approx 2,000 sq.ft). This space is also involved in creating a self-sufficient incubation space for tech and blockchain startups who may have the possibility to become DAO use cases themselves. The members of the incubator will have the option to join the community and have an input into developments of the space.
Tell us about the space! When is it opening? When can we take a tour?
We are unlocking the doors July 1st but will need some time to add some funk. The soft launch date is August. The space will be open to startups to use prior to the launch.
The office is a converted penthouse apartment and as such doesn’t have the standard layout or design of an office which is exactly what we wanted! The idea is to build a creative space that people want to be in. There are plans for a beer tap in true Prague style and maybe a framed portrait of Nicholas Cage in military regalia to add some flair to the office!
The unofficial mascot of the PragueDAO.
Can you tell us a little about partners working on this, and their motivations for joining the PragueDAO? How about your relationship with DAOstack, and the Genesis DAO?
In terms of principal partners, DAOstack has helped us understand and select the governance parameters for the PragueDAO using the Alchemyapplication. The Genesis DAO provided some funding for the project and its members will make up some of the initial stakeholders in the project. We are using our connections with the Founder Institute and other startup organizations to create funnels for really great ideas to get involved in the experiment!
Can you give us details on the initial Reputation distribution? How can I get Reputation in the PragueDAO?
This is still very much up for debate. The ideal situation is to distribute the Reputation as evenly as possible among the initial stakeholders in an attempt to encourage participation in the DAO. The worst case scenario for us is to have an inactive DAO with only a small number of proposals being posted. We would consider this a failure for the experiment.
The PragueDAO space. Photos courtesy of bezreality.cz
What do you expect the PragueDAO to govern, in terms of the physical space? Is there anything strictly or legally off-limits? How are you making these decisions? What, exactly, is my Reputation worth?
As this is essentially an experimental type of DAO we will limit the scope of decision-making from proposals to non-critical elements of the space until we can get some legal clarification on how Physical DAOs will be perceived as entities under the law. This decision was made in order to secure the future of the DAO. The idea is to quickly transition into a totally transparent physical DAO from this initial limited state and put all resources and governance in the hands of the DAO stakeholders. We have legal partners that are unsure how to represent this entity when we move forward with all aspects of the incubator being represented by a DAO and we are working to solve this topical question.
It’s mentioned the PragueDAO wants to incubate additional DAOs. As the PragueDAO is utilizing DAOstack, does this mean any additional DAOs it incubates will also use DAOstack?
DAOstack offers a number of features that I think make it the best choice for any future DAOs particularly in it’s modular approach to DAO building. As potential DAOs (separate to the physical DAO) within the incubator could take a number of different forms it is very useful to have a flexible solution that we can get familiar with and use to create a wider ecosystem.
What is the most exciting thing to you about this experiment?
It is the idea of pioneering something completely new along with the opportunity to learn more about this community. With the ‘Disruptive Collective’ we wanted to create a space with support, development and community being the main focus. The PragueDAO connects with this ethos and will clearly act to support any future developments for the community.