We’re On Our Way to a Future of #decentralized Organizations
▻https://hackernoon.com/were-on-our-way-to-a-future-of-decentralized-organizations-46230576bc4b?
image source: Marketing91The concept of a Decentralized Autonomous Organization, more commonly known as a ‘DAO’ has been around since just after Bitcoin was released back in 2009.DAOs involve implementing specific, pre-programmed rules that describe what can happen in a system and enforce the rules specified through smart contracts.What Was The DAO?In 2016 an official attempt at creating a #dao was made. This organization was known simply as “The DAO”.The DAO officially launched on the 30th April 2016. By the 15th May 2016, it had already raised over $100m. By the end of the funding period, it had raised over $150m from a combined total of over 11,000 members. This was a far greater sum than its creators had anticipated.It worked by allowing participants to purchase DAO tokens, which they (...)