DAOs: A Digital Future Could Mean the Death of the CV

The idea of democratization and globalization has gained widespread attention since the birth of the cryptocurrency era. DAOs (decentralized autonomous organizations) have gained popularity due to their ability to create global companies and communities, and this decentralized and autonomous model is affecting the way people find work. Growing admiration for this employment method could have significant implications for future job prospects, politics, and procedures.

DAOs: Where They Came From and Why They Are Significant

The popularity of DAOs has been growing since their inception in 2016. In 2023, a year which many have dubbed, “The Year of the DAO”, there are many DAOs of different sizes, functions, and values, and with more opportunities to interact with authorities, it is expected to be a defining year for DAOs with the possibility of gaining legitimacy.

DAOs are blockchain-based entities that operate as cooperatives, owned by their members collectively. Members work and earn tokens, which can be converted into real cash and also have a voice in the DAO’s politics and direction through voting. Work and information is shared through open source forums, presenting a potential evolution in global employment.

Recruitment Trends

Advancements in communication technology and the rise of global networking have made remote work more feasible in recent years. The COVID-19 pandemic has further accelerated this trend, with companies embracing remote work and employees showing increased trust in their ability to work from home.

There has also been a shift in attitudes towards work, particularly among younger generations. While baby boomers would remain at a single job for their entire career and Gen-Xers sought upward mobility, Millennials and Gen-Z are demanding more agency and control over their own employment.

Statistics show that freelance work has become increasingly popular, with 47% of workers worldwide being freelancers and 70% of them being under the age of 35, according to the World Bank. Additionally, digital methods of finding work have become more prevalent, with mobile devices playing a critical role for 89% of job seekers in their job search process and 49% using their mobile devices to search for jobs daily. AI is also predicted to play a significant role in recruitment processes in the near future.

Are DAOs the Solution?

All of these factors align perfectly with the benefits of DAOs. Professionals can collaborate with multiple organizations and platforms based on their expertise and abilities, with work opportunities advertised and accessible online. This provides the younger generations with the sense of control and agency they seek in their careers.

Employees can participate in a company as much as they like, reaping rewards as they do. The more work they contribute to a particular DAO, the more tokens they earn, and the higher they move up the company structure with greater influence in decision making. Companies are fully transparent, with their policies, processes, goals, and code readily available through open-source forums, as well as the workers’ experience and skill sets.

No Resumes Required

The traditional recruitment process of companies involves HR personnel and management reviewing resumes and conducting interviews to find the right candidate. But with DAOs, all the professional experience and output is made publicly available on the blockchain as open source. This raises the question: could the need for a resume be eliminated, leading to the death of the CV?

Meanwhile, candidates can easily access information about the organization’s vision, mission, and reputation through open source transparency. According to Glassdoor’s 2019 Mission & Culture Survey, 79% of job seekers consider a company’s mission and purpose before applying, with half of them prioritizing it over salary. While community and social factors are important, digital communication and online communities within DAOs are highly valued heading into 2023.

Many DAOs even host social events for members, both online and in-person. For instance, Cabin aims to create a network of people living and working together in different locations and holds social events, while FWB (Friends with Benefits), a consortium of creatives, holds IRL (“in real life”) events.

The Future is Digital

The shift to digital is inevitable and has been gaining momentum for the past 30 years, transforming every aspect of our lives, including recruitment. The rise of social media, Web3, and the internet has increased the demand for transparent, secure, and accessible information and opportunities.

The era of analog onboarding is fading, and the digital employment market is emerging. DAOs are poised to unlock a new world of open, free employment opportunities for all, truly democratizing the recruitment process.