A business whose by-laws are encoded in an algorithm that runs autonomously, and is published. I think the algorithm says that people can submit proposals (i.e. "send X money to Y") and they'll be voted on by all members, and if the vote passes then the algorithm itself performs the action. There's no-one in charge outside of the emergent behavior of the member votes.
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So many buzzwords. What is a DAO?
Eventually I found on the page "decentralized autonomous organization." Cryptocurrency seems important somehow ¯\_(ツ)_/¯
A business whose by-laws are encoded in an algorithm that runs autonomously, and is published. I think the algorithm says that people can submit proposals (i.e. "send X money to Y") and they'll be voted on by all members, and if the vote passes then the algorithm itself performs the action. There's no-one in charge outside of the emergent behavior of the member votes.