Slock.it needed funding. The obvious option was a token sale. They coded up a crowdfunding contract, but then decided to take it a step further and created a smart contract that gave token holders the power to vote and decide what Slock.it should do with the funds. Still not happy, they took the concept even further, and created a true Decentralized Autonomous Organization, which would control the funds. This meant that token holders would decide where to allocate the money, and Slock.it would be just one among other proposals vying for it. It would effectively work like a decentralized
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