A colony is a new kind of internet based organization. It could be a community project, a company, or a non-profit — your imagination is the only limit.
Every colony has its own token. You earn tokens by doing work. The more tokens you hold, the more of the colony you own.
Tokens let you stake your ownership on your good judgement when proposing tasks, or claiming someone should be paid.
You choose what you work on. It doesn’t matter where you live, or who you know — only how good you are.
Doing great work earns you reputation for the skills you used and domains in which you contributed.
The more reputation you earn, the more influence you have on decisions relevant to your expertise.
If you’re a member of a colony which makes money, you can claim a share of the money it makes proportional to the tokens and reputation you hold.
Through the magic of smart contracts, everything happens automatically. Huzzah! No need to chase accounts for payment!
Voting has a place in collective decision making, but that place is not in day to day operations.
Colonies are designed to be permissive — voting is rarely necessary. People can propose work, get domains and tasks funded, and get paid without constantly needing to get everyone’s permission.
Self regulatory mechanisms provide incentives for being good, and disincentives to be naughty.
If something does go wrong, and it can’t be resolved informally, resolution procedures provide a full, binding, and decentralised means of settling the dispute.
One size does not fit all.
What works for a decentralised open source project may not be suitable for a design agency, a multinational bank, or a virtual world.
That’s why Colony is modular and customisable for the needs of open organizations of all kinds.