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> After it collects Ether from investors — the deadline to buy in is May 28 — the D.A.O. aims to put the money into other digital currency start-ups. So the D

by jcfrei 10y ago

> After it collects Ether from investors — the deadline to buy in is May 28 — the D.A.O. aims to put the money into other digital currency start-ups. So the D.A.O. is just a very technical form of angel investing? I think a decentralized autonomous organization is an interesting concept but I wonder what the great benefit for society is. Most countries have well established legal personalities, such as corporations to create consensus between different shareholders. An it's usually not even expensive to set up. In the EU anybody can create a corporation in any member country using corporate law from any EU country, so you get to choose from a wide array of legal forms. What's the added benefit of a stateless organization? The corporate structure might exist in a stateless form but apart from that the organization is still bound by local regulations whenever it actually engages in a market. To me it seems like a concept dreamt up for a utopian anarcho-capitalist parallel universe.

ap22213 10y ago
The organizational and operational structure seem risky enough. Then, they build it on a digital currency. Are there any similar corporate experiments out there? For a long time, I've wanted to buy into something like this but with state-backed currency.
FatalLogic 10y ago
>the organization is still bound by local regulations whenever it actually engages in a market. That seems true, and I also think it's one of many significant problems with the DAO. Though imagine if some of the organizations being funded are also DAOs. It seems very likely that some types of DAO-funded services could operate without ever being directly exposed to a state-regulated market, except at the level of the individual users and other participants. Individual humans are de facto state-regulated entities - but potentially they are anonymous or not expedient for governments to punish.

by jcfrei 10y ago

ap22213 10y ago

The organizational and operational structure seem risky enough. Then, they build it on a digital currency. Are there any similar corporate experiments out there? For a long time, I've wanted to buy into something like this but with state-backed currency.

FatalLogic 10y ago

>the organization is still bound by local regulations whenever it actually engages in a market. That seems true, and I also think it's one of many significant problems with the DAO. Though imagine if some of the organizations being funded are also DAOs. It seems very likely that some types of DAO-funded services could operate without ever being directly exposed to a state-regulated market, except at the level of the individual users and other participants. Individual humans are de facto state-regulated entities - but potentially they are anonymous or not expedient for governments to punish.