HOW WILL COMPANIES BE MANAGED IN THE FUTURE?

(Venture Beat) We can get rid of bad bosses once and for all. At least that’s the promise of a radically new type of organization based on blockchain technology.

It’s called a Decentralized Autonomous Organization and it has no CEO, CFO, or VPs.

In fact, there’s no hierarchy at all. Of course, any time you bring people together in a group, there are bound to be politics, but it won’t be the “command and control” structure that most of us are used to.

Admittedly, the concept of a “DAO” got off to a rocky start. The first big one, appropriately enough called “the DAO” was hacked, and tens of millions of dollars were placed at risk.

While that was a very inauspicious start to a cool idea, let’s not throw the baby out with the bathwater. After all, the Wright brothers didn’t get very far off the ground on their first few attempts either.

What a DAO is

A DAO is a combination of computer code, a blockchain, smart contracts, and people. (Well, people, for now, at least, but that’s a topic for a different post.)

The founders of a DAO set up the basic governance rules of how it will work. For one example, see how Fermat explains it here.

Continue reading…

Don’t forget to like and follow The Breakdown’s Facebook and Twitter pages!

Please like and share on your favorite social media platform to help spread the message of true liberty which comes through Jesus Christ’s sacrifice on the cross, His death, burial and resurrection.

If you haven’t already given your life to Christ, please go here to listen to a simple gospel presentation.  It will only take two minutes of your time.  Isn’t that a small investment for eternity?

Be the first to comment

Leave a Reply

Your email address will not be published.