A decentralized autonomous organization
![DR. DAVID EDWARD MARCINKO FACFAS MBA CFP MBBS [Hon] [Executive Summary] - PDF Free Download](https://educationdocbox.com/docs-images/75/71938560/images/8-1.jpg)
BY. DR. DAVID EDWARD MARCINKO MBA CMP®

SPONSOR: http://www.CertifiedMedicalPlanner.org
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A decentralized autonomous organization (DAO), sometimes called a decentralized autonomous corporation (DAC), is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government. A DAO’s financial transaction record and program rules are maintained on a blockchain. The precise legal status of this type of business organization is unclear.
A well-known example, intended for venture capital funding, was The DAO, which launched with $150 million in crowdfunding in June 2016, and was nearly immediately hacked and drained of US$50 million in cryptocurrency. The hack was reversed in the following weeks, and the money restored, via a hard fork of the Ethereum blockchain: the Ethereum miners and clients switched to the new fork.
CITE: https://www.r2library.com/Resource/Title/0826102549
MORE: https://www.msn.com/en-us/money/topstocks/what-is-a-dao/ar-AAOIpjw?li=BBnb7Kz
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Filed under: "Ask-an-Advisor", Accounting, Glossary Terms, Information Technology, Investing | Tagged: blockchain, Certified Medical Planner™, CMP, cryptocurrency, DAO, David Edward Marcinko, decentralized autonomous organization, Ethereum | Leave a comment »













