Rebranding the DAO: The Controversial Blockchain Concept is Back

fork, edcon

It looks like we haven’t seen the last of leaderless blockchain-based companies.

Despite the spectacular demise of The DAO, developers are still excited about the concept of one day creating decentralized autonomous organizations (DAOs), automated companies operated by hard-coded rules enforced on a blockchain. As evidenced by discussions at the ethereum developer conference, EDCON 2017, nearly six months after the project lost millions, experimentation remains ongoing.

Since then, ethereum developers have been more cautious about unrolling autonomous organizations, but there’s been rejuvenated interest in making an element that underpinned The DAO — smart contracts — better and more secure.

Still, in Paris this week, some are still skeptical of the idea of DAOs at all, since there’s so much that the coded rules would have to be able to anticipate in advance.

Omise architect Rick Dudley told CoinDesk:

“I try to avoid DAOs. Businesses rely on trade secrets and ultimately, fundamentally rely on humans to make business decisions and operate.”

New paint

But despite skepticism, the idea is far from dead.

It’s a hard idea to eradicate, perhaps because developers see such promise in a system whereby businesses decisions are automated to a degree that power and bureaucracy can be limited. Even the developers behind

Read more ... source: CoinDesk

Let's block ads! (Why?)

Powered by Bitcoin Central