' DAO ' , standing for ' digital antonymous organisation ' , is a company built on blockchain infrastructure , where the CEO is effectively a computer programmer ; 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 . Security is assured because it is constantly monitored by an entire network of people who have a stake in the system, making corruption an impossibility. The system runs on the Ethereum platform which in turn , runs on cloud technology , hence the speed and efficiency of the system . The company is currently undergoing a capital raise , which has so far raised $ 131 m .
' DAO ' , standing for ' digital antonymous organisation ' , is a company built on blockchain infrastructure , where the CEO is effectively a computer programmer ; 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 cloud technology , hence the speed and efficiency of the system . The company is currently undergoing a capital raise , which has so far raised $ 131 m .