'DAO', standing for 'decentralised antonymous organisation', is a company built on blockchain infrastructure, where the CEO is effectively a computer programme; the company has zero employees, only stakeholders. In summary, it is run without any human intervention and uses a set of rules or 'smart contracts' that are incorruptible, enabling quick transactions that are transparent to all users and generate revenue at the same time. The idea behind this project was born in 2014 when an anonymous programmer named Satoshi Nakamoto published his white paper describing Bitcoin. The company is currently conducting a capital raise, which has so far attracted $131m.
'DAO', standing for 'decentralised antonymous organisation', is a company built on blockchain infrastructure, where the CEO is effectively a computer programme; the company has zero employees, only stakeholders. In summary, it is run without any human intervention and uses a set of rules or 'smart contracts' that are incorruptible, enabling quick transactions that are transparent to all users and generate revenue at the same time. The system runs on the Ethereum platform which in turn, runs on blockchain technology, hence the speed and efficiency of the service. The company is currently conducting a capital raise, which has so far attracted $131m.