The core promise of a DAO (note: I do not feel the ConstitutionDAO is a good example) is that it is funded & organized using smart contract interactions. For e

The core promise of a DAO (note: I do not feel the ConstitutionDAO is a good example) is that it is funded & organized using smart contract interactions. For example: a simple smart contract could be set up by 1000 parties that share the same goal (but may not share a mutual trust) across the globe to say that “the funds in this wallet are locked for 1 year. After 1 year, contributors can vote on whether to unlock the funds (make them redeemable) or re-lock them for another year.” Rather than placing trust in complex legal structures across countries, centralized payment processors & currency exchanges, the security & accuracy of voting procedures like SpiderMonkey, and the goodwill of all other contributors, the trust can be placed in the contract code and security of the chain. This does not automatically make it better, nor does it mean it is impervious to problems (like bugs in the contract), but it is a different system that is not easily & transparently achievable via traditional means, and certainly not in a matter of days by simply using a web application (Juicebox).