DAOs + Crowdfunding = The Future of Finance

We're going to skip the part where DAOs are engaging in unregulated crowdfunding for the moment. And instead, focus on what happens when hundreds or THOUSANDs of people use technology to do a thing.

1. Distributed Autonomous Organizations (DAO)s are where humans form an organization (some would call it a business but lets not get stuck in details) for the purpose of doing a thing.

2. #ConstitutionDAO formed so that its members could buy an original copy of the Constitution.

3. Calling it a DAO vs an LLC/Corp just means that members have some sort of #blockchain based ID that identifies them as members of the DAO.

4. DAOs are actually businesses because the members there in have a financial interest (represented by smart contracts /staking / shares etc....) in the thing the DAO was organized to do.

5. So its great that Humans are forming digital LLCs using blockchain ID (aka DOAs) as a form of identify and then together as The Crowd, engaging ...more