The Way of The DAO At 9:00 a.m. GMT on May 28, 2016, the purest expression of the crowd that the capitalist business world had ever seen closed the largest round of crowdfunding ever. The entity involved was the first truly decentralized autonomous organization ever created, “The DAO”—an entity that, as its manifesto explained, existed “simultaneously nowhere and everywhere and operat[ed] solely with the steadfast iron will of immutable code”* It was something like a venture capital fund, but one that followed the principle of decentralizing all the things.
