Decentralized autonomous organization

Decentralized autonomous organization

A blockchain-based organization operating with no central location, headquarters, or centralized decision making authority.

Edit ID  10146133 

Dawson Sewell
Dawson Sewell edited on 14 Feb, 2019
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Article (+1 videos) (+1159 characters)
Further reading (+2 rows) (+7 cells) (+230 characters)
Documentaries, videos and podcasts (+2 rows) (+6 cells) (+201 characters)
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Decentralized autonomous organization

AnA blockchain-based organization operating with no central location, headquarters, or centralized decision making authority.

Article

Decentralized autonomous organizations (DAOs) are blockchain-based organizations operating with no central location, headquarters, or centralized decision making authority.

The first decentralized autonomous organization was Bitcoin which created a monetary platform without the need for banks, bank managers, or a governing central authority. However, the first formal proposition of the concept of a decentralized autonomous organization was in an article published on September 7, 2013 by Daniel Larimer titled " Overpaying For Security".

Decentralized autonomous organizations are built using smart contracts to set the rules (bylaws) of the organization as a method of decentralizing trust with the organization, and to users or customers of the organizations products and services. When conditions of smart contracts are met within the organization the actions stipulated in the smart contracts are automatically executed, helping to ensure compliance and rule enforcement within the organization in real time. This allows organizations to make decisions based on pre-defined rules and conditions.

Further reading

Title
Author
Link
Type

What is a DAO? - CoinDesk

Coindesk

Web

What is a Decentralized Autonomous Organization (DAO)?

Web

Documentaries, videos and podcasts

Title
Date
Link

Decentralized Autonomous Organization

July 17, 2017

Decentralized Autonomous Organization A Short Film

July 17, 2017

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