The Denver Broncos are up for sale, and a group of crypto enthusiasts is aiming to raise more than $4 billion using a decentralized autonomous organization, or DAO, to make it their own.
What is a DAO?
A decentralized autonomous organization (DAO), sometimes called a decentralized autonomous corporation (DAC), is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government.
I had an email discussion here (Australia) with a Law Professor who is nominally in support of Crypto but reckons there wasn’t much usefulness in DAOs and that ordinary Pty/Ltd (LLC) companies were already set up to do what DAOS are supposed to do - I am not entirely convinced but I would love to hear a debate between this guy and a local DAO guru . .
OH MY! This is so crazy. The crypto community is moving so fast I can barely keep up. It will be interesting to see how this all unfolds. I think it will be a great thing not to be influenced by a central government as well.