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Many people are just starting to hear about Bitcoin for the first time, and grappling with all their brain cells to understand the basics of how it might function, let alone its implications. Meanwhile, those who have been interested in cryptocurrency for years are continually looking forward to try to imagine or develop the next big thing, building on top of the base which Bitcoin has laid, and pushing into ever-more disruptive territories. The DAO, or decentralised autonomous organisation, is one project which has many people’s eyes fixated on it.
The DAO is a platform on which decentralised applications might run, allowing for decentralised arbitration services which move further towards making government courts of law redundant. Within a few short weeks, the DAO raised about $130 million through crowdfunding – the largest crowdfund in history to date. Of course, this is no guarantee of its success, but it does indicate the level of public support and faith that this project has behind it.
Will the DAO go on to transform the world? Or is it merely a stepping stone to building something even more ambitious, transformative, and disruptive? We discuss its potential in this episode of the Paradise Paradox.
Disclaimer: We are not financial advisors, we have no idea what you should do with your money, and we don’t claim that we do. Do your own research before making any financial decision, and be careful.
In the interests of disclosure, note that we do own Bitcoin, Ether and DAO.