DAOs Enter the Spotlight
What exactly are decentralized autonomous organizations, or "DAOs"? How do they operate? What are their advantages? Pitfalls? How do they compare to traditional legal entity structures, such as corporations and limited liability companies? In his Blockchain Law column, Robert Schwinger digs deep to explain.
March 21, 2022 at 12:00 PM
20 minute read
Banking and Finance LawsIn the world of blockchain and smart contracts, the idea of a "decentralized autonomous organization"—often referred to simply as a "DAO"—that uses these technologies to pursue a business purpose with minimal human intervention has been gaining increasing attention. Although the concept of DAOs goes back several years, developers of FinTech and DeFi applications more and more have looked to DAOs to play a role in the functioning of their ventures.
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