## #Blocktalk - Rockin' it with Slock.It: Episode Summary
This episode of #Blocktalk features a deep dive into Decentralized Autonomous Organizations (DAOs) and the innovative "Dow" framework developed by Slock.It. The conversation explores the potential of DAOs to revolutionize organizational structures, particularly in areas like charitable giving, while acknowledging the current limitations and ongoing development required for widespread adoption. The discussion highlights the power of incentivizing action through smart contracts, creating a more transparent and accountable system for resource allocation and decision-making. The podcast also takes a fun detour to showcase a unique beer vending machine at Dcentral Vancouver, demonstrating a practical application of blockchain technology and hinting at future integrations with the Universal Strain Network (USN).
### Main Topics Discussed
- DAOs & the Dow Framework: Defining DAOs as "software that incentivizes human action" and detailing Slock.It's Dow framework as a standard for creating and managing them.
- DAO Creation & Governance: Explaining the initial creation of a DAO via bytecode and the voting process, including options like Yes, No, Abstain, Trade, and Split.
- Legal Considerations: Emphasizing the need for DAOs to partner with legal entities (like LLCs) to handle real-world actions and the current limitations of DAOs operating solely on the blockchain.
- Tokenomics: Describing Dow tokens as voting rights within a Dow and the mechanism for potentially redeeming them for underlying Ether and rewards.
- Bitcoin as a DAO: Positioning Bitcoin as the first true DAO, highlighting its decentralized and autonomous nature.
- Sponsorships: Showcasing sponsors Sarcoin (a Spanish altcoin project) and BitTracks (a user-friendly cryptocurrency exchange).
- Practical Applications: Demonstrating a beer vending machine utilizing Bitcoin for payment and hinting at future integration with the Universal Strain Network (USN).
- Voting System Improvements: Discussing the need for more advanced voting mechanisms like liquid democracy.
### Key Quotes
- "A Dow is software that incentivizes human action." - Griff Green
- "Bitcoin is the first Dow." - Griff Green
- "Dow tokens are Dow tokens. They are the tokens that allow you to vote for proposals in a Dow."
- "Dow is pretty much useless without a legal entity that is partnered with."
### People Mentioned
- Griff Green: Community Manager, Slock.It
- DowToshi Nakamoto: Anonymous creator of multiple DAOs
- Taylor: From MyEtherWallet
- Leftist: Slock.It lead engineer
- Stefan: (Mentioned regarding his dislike of the "shares" analogy)
### Bitcoin Price
The podcast mentions a price of 0.01 BTC (approximately $3.00 CAD) for a beer dispensed by the vending machine. No broader Bitcoin price discussion occurred.