crowdfunding to the investment company "CAD", which exceeded a hundred million and counting, has the old world into confusion. "How something hierarchical run a company or trust an investment," We hear This shows the actual depth of the digital divide
The DAO -.. Short for the organization autonomous Distributed - is actually a pretty bad name for the company The name is a modern equivalent of "The Corporation" something like "self venture Investor Distributed" probably would have been more understandable for that particular organization, because there is.. much of OAC (as there is more than one company). But still.
TheDAO is the largest investment crowdfunding ever, beating the game Star Citizen who pulled in $ 100 million funding. TheDAO currently attracted investment money in $ 108 million, mainly small and individual investors. this left all the major investment institutions in complete confusion and disarray, the technical term for this kind of amount "a shitload of money", which in turn draws the attention of Wall Street.
Star Citizen is understandable for Wall Street. It is a high-end entertainment product with an experienced game designer, with some of the most popular products at the helm. The CEO has recruited some of the best in the industry. This is grokable to the old world.
And then there TheDAO. No leader, no incorporation, nothing. Just a shitload of money (technical term) from around the world.
"Who decides?"
"Where is the business plan?"
"What is the investment idea?"
What the old world does not see is that there is a leadership, there a business plan, and there is a clear investment idea. It is right in front of them. They just fail to recognize it as such :.
The source code
The source code makes decisions for all to see. The business plan is just in the source code.
The fact that Wall Street does not recognize the source code for logic perfectly valid, pensionable and transparent business is why Wall Street is falling behind.
It was exactly the same with Bitcoin last few years. "How can you trust a currency that does not have a central bank may decide to destroy your assets?"
The answer, of course, was that you could just trust because he has not had this kind of central bank - because the source code is open for see everything, so transparent and predictable
and that's why you can trust the new type of organization .. unregulated, unstoppable, censor free enterprise, with open source code for all to see
Because the old world can not stop
(update: .. Star Citizen is still the # 1 crowdfunding with $ 113 million at Monday noon European time TheDAO,. currently at $ 108 million, is expected to exceed it by Tuesday noon or so)
(update 2 :. well, that was quick TheDAO is $ 117. million at 19:00 European time on Monday officially making # 1)
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