How Do Decentralised Autonomous Organisations (DAOs) Actually Function?
The first thing worth saying about DAOs is that the name is somewhat misleading. ‘Decentralised’ is a spectrum, not a binary. ‘Autonomous’ is a degree, not a state. Most real-world DAOs today are only partially decentralised and only partially automated, and the most successful ones are candid about that rather than pretending otherwise. Understanding what…
