Bitcoin and the rise of decentralized autonomous organizations - Journal of Organization Design

Two significant innovations underpin Bitcoin: a technological one, namely the public and distributed ledger technology called “blockchain,” which securely maintains an immutable record of all user transactions, and an organizational innovation, namely, the existence of an open network of users with special roles and rights called “miners”, who lend... See more

Following prior work, we define DAOs as non-hierarchical organizations that perform and record routine tasks on a peer-to-peer, cryptographically secure, public network, and rely on the voluntary contributions of their internal stakeholders to operate, manage, and evolve the organization through a democratic consultation process (Valkenburgh et al.... See more