Time is an asset of every individual. A salaried employee is forced to divide their time between the company they work for and their own personal projects. This model stifles the intrinsic desire of young people to be the architect of their professional life. While the existence of various types of profit-sharing programs helps keep workers engaged, employees rarely have a meaningful say in the structural decisions of the company they invest their labor in. Often most acutely felt with the choice of profit redistribution, this creates a disconnect between the development of the company and the sustained interest of employees.
On the other hand, freelancing, has been experiencing a surge in recent years because, on paper, this way of working seems to provide a solution to all the shortcomings encountered by the salaried workforce; allowing people to work at their own pace while adhering to their own life objectives, resonating with the millennial and gen Z mantras of freedom and independence. In reality, few succeed in combining this apparent flexibility with growth and profitability in the long term. One must find enough customers to earn a living through their respective offering and secure enough growth in income to support financial needs that can increase over time — no small task for a one-person operation.
A new model is emerging that could upend this binary of salaried vs freelance work styles. Already supported by a small number of companies around the world, this new model involves creating cooperatives and using collective intelligence and crypto-currencies as powerful mechanisms to align their interests. They are called DAOs, or Decentralized Autonomous Organizations. By joining these cooperatives, workers can enjoy the flexibility and independence of freelancing while benefiting from a continuous workflow and the scale of a collective.
The DAO’s proposal is to pay according to the performance of the actions taken by the community. They are not limited by borders and therefore can accept workers from all over the world. DAOs remunerate their members with their own cryptocurrency. The advantage here is two-fold: rewarding participants with both money and the governance power to steer the direction of the organization. In addition to being extremely liquid — easily exchanged and sold for fiat currency without the administrative complexity that can be encountered in the transfer of shares — these tokens also confer a right to vote. The more cryptocurrency the member has, the more of a say they have in the cooperative’s direction.
CrunchDAO is a research team of data scientists leveraging the power of collective intelligence and Web3 to produce and sell next-generation predictive insights. The community seeks profit from patterns in the stock market, using a tournament model to produce and sell trading signals that generate returns, regardless of market conditions, to top-tier investment firms and hedge funds.
To compete with industry giants, CrunchDAO leverages the competitive advantages of the decentralized cooperative model. The DAO gives 100% of its earnings to its 2,000 members and involves them in the development of the structure by granting them governance power. Thus, the more a data scientist works for the community, the more their vote influences the decisions of the cooperative.
Moreover, instead of paying its member's tens of millions of euros annually, the cooperative has chosen to federate a community, paying them in the cooperative’s currency, $CRUNCH. These data scientists do not speculate, they trust the value of the $CRUNCH, which they know correlates to the quality of the financial information they are able to generate themselves. A social pact is formed, and the impetus is given for every member to perform to the best of their ability.
Benjamin Gabay, CMO & Cofounder of CrunchDAO.