The millennial generation is experiencing history in the making as they flock in amazing numbers – almost 5,000 members on the DAO slack channel – to fund one of the most promising decentralized autonomous organizations.
Raising an incredible $130 million in just two weeks, with two more weeks to go, it makes the DAO the most well-crowdfunded project in history, and the most well-funded blockchain company. Universal Sharing Network
Breaking all expectations, almost 11 million Ether has been sent to the DAO smart contract, creating some 1 billion DAO tokens , to fund the creation of a Universal Sharing Network.
This futuristic vision of machine-to-machine payments is aided by the funding of an Ethereum computer, similar to 21 inc’s Bitcoin computer, and aims to create a sharing economy, an Uber of eBay.
Griff Green, a spokesman from Slockit , stated that he was “amazed” at the DAO raising more than $100 million in just two weeks and did not expect such a success, before adding, “the DAO is going to be able to do big things.”
His feelings are shared by many with Des Kenny, one of the many token holders, stating that the DAO raising more than $100 million was “incredible and very unexpected.” Ethereum smart contracts
The DAO is one of the first decentralized organizations which implements the opportunities offered by Ethereum smart contracts to create a completely new, more transparent, and more accountable business model. To start, the funds are visible to everyone on DAO’s smart contract address which currently shows a holding of more than 10 million Ether. What is highly interesting is that it is the address itself, no individual, but that random collection of numbers and letters, which “physically” holds the funds, so no one can steal them or run away with the money, according to Mo […]
