The DAO, the paradigm shift!

When I found out about the DAO after Bitcoin and Blockchain, I thought, "Wait a minute....

...so now it's going to be quite extreme. We have cryptocurrencies and DLT (distributed ledger technology, blockchain), which are going to turn the global financial system upside down."

Then there's blockchain, which will revolutionize most operations in the global business world. A small example: We have a contract (smart contract) with the electricity supplier. If we don't pay our bills, our electricity will be cut off after three reminders. Nothing special, right? But with blockchain technology, this process is completely automated. If I now pay my bill (e.g. via smartphone), the electricity is reactivated within seconds. The possibilities of the blockchain are almost limitless, more secure and faster than anything that has existed before.

And now comes the DAO, the Decentralized Autonomous Organization, which is exactly what the youngest and especially the future generation will more than welcome.

Combining all three themes, it quickly becomes clear that the global economy as we know it is in for a radical transformation. Recent events and global economic problems are even likely to accelerate this revolution.

But what is a DAO? Here there is a very good answer to this question.