Decentralized Autonomous Organizations 

TheDAOFor a longtime there has been a cypherpunk fantasy of a truly decentralized autonomous way to created organizations. The idea is that through building a company on top of a decentralized cryptographic system, like Ethereum, it can function outside and beyond the control of the world of flesh and steel. It is to do to companies what bitcoin did for money: to make it impervious to the state.

In the last few months, we have seen this fantasy come to fruition with the premier of TheDAO.

More than $50 million dollars and counting, all in crypto, has been raised by TheDAO, and what they plan to do is truly revolutionary. This is a system of code that allow for the creation of corporate entities that are controlled and governed entirely through ethereum shareholders who control the direction of the company. Everything about the companies that are created from The DAO are decentralized, fully autonomous, and don’t touch the state-based financial system. We have reached an endgame where the oppressive and despotic functions of the state can no longer exploit people via capital. Where we are going, we don’t need fiat anymore…

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