Metamouse Helps DAOs Pay Their Bills
Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.
DAOs (Decentralised Autonomous Organisations) are fully democratised, non-hierarchical entities whose members typically remain pseudonymous to the outside world - entities that can typically be found in the cryptocurrency world. In essence they are a way of running a company with no physical presence and that is not, legally speaking, therefore an entity at all. This carries significant benefits but also significant drawbacks, one of which is that DAOs need to use the same goods and services as any other company but, because legally speaking they don’t exist, they cannot access banking facilities.
Since DAOs raise money through cryptocurrency investments, the trouble starts when it comes to paying for the kinds of goods and services they need to operate, in that there is no convenient way to turn it into cash. Metamouse is the answer to this problem, allowing DAOs to pay real world costs without having to experiment with various problematic ways of turning their cryptocurrency holdings into fiat currency. But how does it work?
Let’s look at an example. A group of developers and crypto visionaries form a new DAO, EnergyDAO. The core of the team lives in the same area so they decide to rent a small office to work from in the early stages. They put the word out, raise some ETH, and start looking for office space. When they find it, however, they also find that they have a problem - the DAO as an entity cannot pay the bills.
It has ETH in its wallet, but because DAOs can’t register with exchanges, the team has no easy way of getting the money into the local currency and paying the office costs. One of the team could pay the
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