A decentralised world brings economic efficiency, economic proficiency, stability, and peace of mind – Part 2

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City AM

By Darren Parkin We continue from Part 1 with other key forms of decentralisation. Decentralised autonomous organisations (DAOs)A DAO doesn’t have a central authority and operates based on proposals from its members. Such must be approved by a majority of members to become valid. They then implement these proposals using smart contracts which give the organisation rules on which to execute the agreed-upon actions of its members. Decision-making power is distributed and automated, thus eliminating the need for day-to-day administration. The benefits of a DAO include increased transparency and d…

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