Too Long; Didn't Read
Hundreds of decentralized autonomous organizations (DAOs) are trying to find a commercial foothold. They set out to provide a modern-day, wholly digital solution for coordinating and structuring work. DAOs fulfill the same role as traditional organizations except that they are founded on Bitcoin’s philosophy of openness, transparency, trustlessness, decentralization, and scarce digital value. Many DAOs are really concealed corporations with a participatory governance mechanism. While the potential of DAOs seems to be enormous, there are also problems in the landscape.