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What you need to know of Ethereum and Decentralized Autonomous Organizations

Started by 4niso, Jun 11, 2019, 12:17 am

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4niso

Smart contracts could be the building blocks for entire decentralized autonomous organizations (DAO's) that function like corporations, engaging in economic transactions--buying and selling things, hiring labor, negotiating deals, balancing budgets and maximizing profits--without any human or institutional intervention. If one takes the view that corporations are just a complex web of contracts and obligations of varying size and scope, then such DAO's could be coded into Ethereum. This opens the door for all sorts of new and interesting possibilities such as emancipated machines that literally own themselves and people being employed directly by pieces of software.

4niso