Blockchain technology would take people out of the equation as much as possible and leave decision making to computer programs. The rules of an organization would be put into code and computers would execute all the decisions openly and predictably. The decentralized network would ensure that no single party could modify the code or shut down the program. The idea was that people can be corrupted, they can cheat and deceive, but code can’t. It was pure crypto-anarchy, because to some of its proponents, these DAOs would presumably be outside of the law. DAOs “don’t need regulation, you don’t
...more
