The rise of decentralized autonomous organizations (DAOs): a first empirical glimpse

【Author】 Bellavitis, Cristiano; Fisch, Christian; Momtaz, Paul P.

【Source】VENTURE CAPITAL

【影响因子】3.531

【Abstract】Blockchain technology and smart contracts are catalysts for decentralization and disintermediation. These new technologies reduce transaction costs, agency costs, and offer a basis for trustless social and economic interactions. They are fueling new business models for decentralized platforms and have revolutionized crowdfunding. A recent trend, Decentralized Autonomous Organizations (DAOs), stands to fundamentally transform organizing and governance. DAOs are blockchain-native, decentralized organizations that are collectively owned and managed by their members via smart contracts. In this note, we assess the promises and challenges of DAOs, with a focus on decentralized governance and disintermediation, and offer a first empirical glimpse at the rise and functioning of DAOs. Overall, DAOs may introduce a new era in organizational economics, transforming the global corporate landscape from hierarchical organizations to democratic and distributed organizations powered by organizational entrepreneurship and innovations.

【Keywords】DAO; decentralized autonomous organization; blockchain; ethereum

【发表时间】

【收录时间】2022-09-15

【文献类型】观点阐述

【主题类别】

区块链应用-虚拟经济-DAO