# OWNKEY Protocol By [OWNKEY Protocol](https://paragraph.com/@ownkey-protocol) · 2023-01-24 --- OwnKey is a new protocol that aims to bring transparency and decentralization to communities, teams, and other forms of organizations. The protocol allows for the creation of private, decentralized communities on the blockchain, called "ROOMs." These ROOMs serve as a space for members to communicate, exchange and share both on-chain and off-chain resources. Access to a ROOM is granted through a non-fungible token (NFT) that can be bought or obtained through giveaways by the governance of the ROOM. Each ROOM has its own smart contract that governs the operating rules of the organization and determines the rights of the members. The rights can be linked to access, voting, royalties, or information, and they are immutably and consensually pre-written in the smart contract, every change of law in an organization is subject to a joint vote. The protocol also offers a traceability tools and resource sharing capabilities, which help to improve collaboration and trust among members. The use of a decentralized, blockchain-based platform provides added security and transparency in comparison to traditional, centralized systems. The ROOMs also has a governance system, where the governance of a ROOM is directly linked to its smart contract, and can be customizable to suit each organization, whether it's a DAO standard or that of a hierarchical organization. Each organization is free to compose the operation they want and members can propose new smart contract standards via a proposal system. In terms of economy, each ROOM has its own wallet, manageable by the governance of the ROOM. This Wallet carries the organization’s shared resources, and the economy of each organization is based on one or more stablecoins listed by the protocol. From the sale of access NFTs to royalties, a ROOM will use an economic system based on stability via the stablecoin that it considers most appropriate and secure. OwnKey protocol is designed to house all types of players to enable them to use "DAO" tools to sustainably optimize their resource sharing and trust within their community. The protocol aims to address the lack of organic linkages through traceability tools and resource sharing among WEB 3.0 individuals. It is a flexible tool that can be used for all types of organizations, ranging from hierarchical to semi-hierarchical to decentralized autonomous organizations (DAOs). Overall, OwnKey is a powerful new protocol that brings transparency, decentralization, and flexibility to communities and organizations. It allows members to optimize resource sharing, trust, and collaboration, while also providing added security and transparency through the use of blockchain technology. It is a game-changer for the way organizations and communities operate and interact in the digital age. Explore now via : Ownkey.xyz Do not hesitate to contact us to contribute. --- *Originally published on [OWNKEY Protocol](https://paragraph.com/@ownkey-protocol/ownkey-protocol)*