The so-called DAO refers to the Decentralized Autonomous Organization, which is a decentralized autonomous organization. This is not a new concept, but the operation through the smart contract of blockchain technology is the main difference between DAO and the past decentralized organizations. . In simple terms, the rules of this organization are written in the form of contracts on the blockchain through code,
And all governance, operations and transactions popular database of the organization operate according to preset rules. As for the "not for profit", "everyone is an owner", and "all participants are equal" that many people imagined out of thin air, it is not necessarily true. Is it possible for the entire DAO to be profitable? Can! Can participants be graded? Can! But even the most basic definition of "decentralization" can actually be violated. Simply put, as long as the smart contract says it, it does what it does, and that's the only thing that's right.
But let's ignore the possible centralized DAO for the time being. Suppose this is really a decentralized autonomous organization. Will there be good development? Here, let me give two examples, one is Vanguard, the world's second largest fund company, and the other is Zappos, which promotes the "holacracy" management model.