dao, (Chinese: “way,” “road,” “path,” “course,” “speech,” or “method”) Wade-Giles romanization tao, the fundamental concept of Chinese philosophy. Articulated in the classical thought of the Spring and Autumn and Warring States periods of the Zhou dynasty (1046–256 bce ), dao exerted considerable influence over subsequent intellectual developments in China.
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The DAO (organization) - Wikipedia
The DAO or Decentralized Autonomous Organization is a program that was built on the Ethereum blockchain network that aimed to become the largest crowdsourcing platform. DAOs aimed to replace management structures that were centralized by using a technologically democratic approach, where decisions are taken by investors and stakeholders.
Launched in 2016, The DAO was an early decentralized autonomous organization (DAO) intended to act as an investor-directed venture capital firm. Lauded as a revolutionary project, The DAO raised $150 million USD worth of ether (ETH) and was one of the earliest crowdfunding efforts and high-profile projects built on the Ethereum blockchain — which at the time was only one year old.
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The DAO was a digital decentralized autonomous organization, and a form of investor-directed venture capital fund. It launched in April 2016 after a crowdfunding campaign via a token sale and it became one of the largest crowdfunding campaigns in history. The DAO had an objective to provide a new decentralized business model for organizing both commercial and non-profit enterprises. It was instantiated on the Ethereum blockchain, and had no conventional management structure or board of directors
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dao Chinese philosophy Britannica
The DAO was a complex Smart Contract with a focus on fair, decentralized operations. In order to allow investors to leave the organization in the case of a disagreement, The DAO was created with an exit or a ‘split function’. This function allowed users to revert the involvement process and to have the Ether they had sent to The DAO returned.
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The Decentralized Autonomous Organization (known as The DAO) was meant to operate like a venture capital fund for the crypto and decentralized space. The lack of a centralized authority reduced.
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The DAO hack - what happened and what followed? CoinCodex
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The DAO, a decentralized autonomous organization (DAO), works as a decentralized fund management investing in blockchain projects. At first, The DAO will focus on projects related to the sharing economy and Internet-of-Things (IoT) applications of the blockchain – though the organization said it is interested in exploring other “new markets.