July 30, 2020

Is DAO a New Type of Organization or a Huge Trend for the Coming Years?

2020 year was announced as the year of the DAO in the FinTech industry. Still, most people who heard about the word have a hard job defining the concept.

Our analysts propose to use the original definition of Vitalik Buterin, who defines a DAO as “an entity that lives on the internet and exists autonomously, but also heavily relies on hiring individuals to perform certain tasks that the automaton itself cannot do.”

Beyond sheer diversity of DAOs, they display a similar key feature: the ability to facilitate the collective management of common goods, including cultural and intangible works, natural resources, economic and industrial production, and social systems.

Since the fall of The DAO in 2016, decentralized autonomous organizations have strayed from the spotlight. However, developments and experiments in this area never stopped.

So, we try to get what DAO is, and what has changed since the inglorious hack of the DAO, –