Similarities between Limited Liability Companies and Decentralized Autonomous Organizations
Published in
2 min readDec 24, 2021
Here is my summary, in the form of quotes, from an article about Decentralized Autonomous Organizations (DAOs) and their similarities to Limited Liability Companies.
- A company is an imaginary concept that allows strangers to agree on a codified set of principles under which they can pool their capital and limit their risk.
- A system that includes as many individuals as possible in the pursuit of a dream is more likely to succeed because it can raise a larger amount of capital.
- …a fictitious thing called a company allowed a group of people to properly exploit a risky opportunity, and created extreme wealth for shareholders and the home nation-state.
- What, then, will be the new shared fiction uniting billions of individuals to create and grow the various Metaverses that will exist in the near future? It is the Decentralised Autonomous Organisation, or the “DAO”.
- The essence of credit and debt is the ability to energy time travel.
- For investors who wish to provide capital to the builders of a completely new financial system, this is a once in a millennia opportunity. Many wish they were the financiers, and not the assets being transported or financed during the European Age of Exploration.
This text was published about a month ago on Vinter’s monthly industry insight newsletter.
