Published On: Fri, Jul 8th, 2016

Renowned Futurists Merkle, Hanson on the Future of Government Using DAOs and Prediction Markets

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In May, Bitcoin Magazine covered the spectacular launch of The DAO, a new kind of organization created and run using blockchain software rather than conventional corporate structures. The DAO ‒ an acronym for Distributed Autonomous Organization ‒ is similar to an open venture capital fund based on Ethereum smart contracts and rapidly became the world’s largest crowdfunding to date.Shortly after its launch, The DAO had an equally spectacular crash caused by poorly understood aspects of its implementation of smart contracts, which a malicious attacker was able to exploit.Emin Gun Sirer of Cornell University told The Economist, “the …

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