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DAOs: What are they and how do they influence the cryptocurrency and blockchain sector?

DAOs: What are they and how do they influence the cryptocurrency and blockchain sector?

Decentralised Autonomous Organisations are an attempt to serve as the blockchain equivalent of venture funds, with stakeholder voting mechanisms serving as decision-makers in place of directors On Wednesday, it was announced that BitDAO, a Decentralised Autonomous Organisation (DAO) aimed at promoting the “mass adoption of open finance and decentralised tokenised economy” had raised US$230mln in a private sale involving hedge fund Pantera Capital as well as PayPal co-founder Peter Thiel.








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