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DAOs [2] • History & Lore

DAOs are a new way of organizing people. Traditionally, a company structure has been the most effective free-market approach to accruing talent in pursuit of a goal. That labor is usually persuaded and controlled through wages. DAOs seek similar ends — the creation of value — but rely on a decentralized framework in which workers, users, and other stakeholders have true ownership of the entity.

Unless you are an organizational theorist… your specialty will be treated as a dependent variable; organizations will be the independent variable that shapes political and economic behavior, the stratification system, religion, social psychological processes and history in general.

Want to invent your own financial derivative? With Ethereum, you can. Want to make your own currency? Set it up as an Ethereum contract. Want to set up a full-scale Daemon or Skynet? You may need to have a few thousand interlocking contracts, and be sure to feed them generously, to do that, but nothing is stopping you.

DAOs are a virtual entity that has a certain set of members or shareholders which, perhaps with a 67% majority, have the right to spend the entity’s funds and modify its code.

Want to set up a full-scale Daemon or Skynet? … Nothing is stopping you…



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