Conversations with TED: Decentralized Autonomous Organizations (DAOs)

On this episode of Conversations with TED, I discuss the growing importance of Decentralized Autonomous Organizations (DAOs). I share how unlike traditional businesses, DAOs don’t follow the same rules as general organizations, they don’t have boards, shareholders or a governing hierarchy. DAOs have emerged in the last five years and have benefits and challenges. Benefits include working within the blockchain framework as a democratic entity where there is a community consensus agreement. While the DAO world is highly effective and efficient, challenges do exist such as token holders coming together to vote on changing the direction of the DAO’s intention.  

We discuss how DAOs are impacting and transforming business, not just the crypto space, but extending to the healthcare arena and even into the charitable world. DAOs will continue to define and shape how corporations (national and international) operate and achieve goals in the coming years. Internationally, DAOs are much more recognized while nationally there is more of a wild west situation that continues to evolve. The world will continue to see and hear much more about DAOs in the legal and business arena.