Wednesday, June 12, 2024

As part of its crypto governance experiment, FriesDAO acquires fast food restaurants.

A decentralized autonomous organization, Friday, is trying to run a test to see if an open community can effectively run a fast-food enterprise in the real world. To bring real-world assets into decentralized finance (DeFi) and on-chain platforms.

FriesDAO is an amalgamation of like-minded people, who think that traditional businesses will be able to blockchain-based governance. Whoever wants to participate in this test can with DAO can donate to its treasury. And the members can collect their membership token which will also provide governance rights to members for future growth and process of DAO.

Some community members started the donation on 29th January to the treasury and might continue to raise it until February. FriesDAO aspires to scale and achieve fast food restaurant franchises similar to Burger King, Taco Bell, Popeye’s, by asking FRIES token holders to operate a decentralized circuit of Quick Service Restaurants.

FriesDAO team, started with Subway franchise owners, in hopes of guiding their partners with the information regarding blockchain space. All of this started as a joke only to turn into a serious proposition. They realized that there was a crack for the individuals who were very enthusiastic to run decentralized autonomous organizations as a business.

FriesDAO does not own any of the stores directly, because of some legal issues, as clarified by Bill LEE, a FriesDAO advisor. But as per the governance model, the DAO members are allowed to have a say in how the treasury fund can be used.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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