DAOs might be the next evolution of the firm. They have some advantages that will inspire their growth, such as ease of creation and a current lack of regulation. It is likely that DAOs will gain many analogues of the legal structures enjoyed by the C-corp. I imagine banks will offer traditional fiat accounts where access is gated by multi-sig... See more

The shape of this future is rapidly coming into focus and centers around an organization referred to by technologists as “decentralized autonomous organizations,” or DAOs. These DAOs operate with different assumptions than many of today’s traditional legal entities and other business associations. DAOs are not run by boards or managers, but rather... See more

The decentralized automated organization (DAO) structure and the technologies underpinning them -- transparent ledgers, smart contracts, cryptocurrencies, automated governance and certifiable digital ownership -- were created specifically and solely to align incentives. And now that they have been in the market for several years, we are starting to... See more