Distributed Autonomous Organizations

[TampaAnimusVortex]

A new breed of organization is being born. How this evolves could restructure societies around the globe.

"A ÐAO is an algorithmically-governed programme that, in using trustless decentralised computing, can serve as a way to formalise multilateral relationships or transactions outside of traditional legal architecture (see the essay Formalising and Securing Relationships on Public Networks by Nick Szabo to learn more on the subject).

In legal terms, a ÐAO is therefore a medium for two or more people to conclude agreements or otherwise associate with others in a predictable way. The fact that a ÐAO built on a blockchain operates itself in accordance with pre-defined rules and cryptographically secure architecture means that its users can reliably expect instructions which they broadcast to be consistently and securely executed.

https://theconversation.com/the-dao-a-radical-experiment-that-could-be-the-future-of-decentralised-governance-59082

The extraordinary thing about The DAO is that no single entity owns it, and it has no conventional management structure or board of directors.

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[…] what if, with the power of modern information technology, we can encode the mission statement into code; that is, create an inviolable contract that generates revenue, pays people to perform some function, and finds hardware for itself to run on, all without any need for top-down human direction?"