Shortly after the book came out, we witnessed the launch of the first such enterprise called the DAO (for decentralized autonomous organization), which crowdfunded a record-breaking $160 million from tens of thousands of global investors. What distinguished the DAO from all other start-ups was the absence of management in the traditional sense. Created by boutique blockchain development firm Slock.it, the DAO was a smart contract for a token with built-in voting rights. Its stakeholders—human beings—could review and vote on proposals curated by a smaller group of stakeholders to determine how
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