Decentralised autonomous organisations (DAOs) are like traditional organisations, except they run autonomously, or almost. Much like traditional companies, DAOs have stakeholders that vote on changes. So while they run autonomously, so-called stakeholders can vote to influence decisions and direction.
DAOs, just like pretty much everything else connected to #cryptocurrencies, are an extremely new and, to some extent, revolutionary technology. In this episode of Ask Luno, we go in-depth on how they work.
Can you picture companies that could one day run without human intervention? Let us know your thoughts in the comments below.
0:00 How does a DAO work?
0:31 What is a DAO? DAO definition
1:02 DAO business model (ethereum)
1:33 Is a DAO a smart contract?
2:17 DAO explained
2:50 DAO token stakeholders
3:27 DAO crypto technology the future
In the Ask Luno series, we answer all your crypto questions. If you want your own question answered, don’t forget to tweet us @lunomoney 📲
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