What does the future hold for the DAO? The DAO as originally envisioned had not returned as of mid-2020. Nonetheless, interest in decentralized autonomous organizations as a broader group continues to grow. In 2021, The Maker Foundation, an icon in the crypto industry as the original champion of DAO, announced that it was officially turning operations over to MakerDAO (creator of the DAI stablecoin) and would dissolve by the end of the year.9
While there are many lingering concerns and potential issues regarding legality, security, and structure, some analysts and investors believe that this type of organization will eventually come to prominence, perhaps even replacing traditionally structured businesses.
Dash
The popular digital currency Dash is an example of a decentralized autonomous organisation because of the way it is governed and the way its budgeting system is structured. It may only be a matter of time before additional DAOs enter the field. Dash is an open source cryptocurrency. It is an altcoin that was forked from the Bitcoin protocol.
Conclusion
In this article we learnt about Decentralized autonomous organization operating on a blockchain, we discussed how they operate and what part Ethereum plays in it. We also learnt about a cyber hack that occurred on the ethereum platform and discussed the criticisms DAOs have received since their inception. Followed by reviewing how Traditional organisations differ from DAOs in terms of governance and management.
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