Coincheck launches support for DAO tokens in Japan. CoinTelegraph spoke with Kagayaki Kawabata, Business Development Lead at Coincheck.jp , to find out how high DAO could rise in the Land of the Rising Sun. What is DAO all about
Decentralized Autonomous Organization or DAO, is a project of Stock.It, a German company that has been developing smart-locks based on Ethereum. In a whitepaper released by the company on their website titled ‘ Decentralized Autonomous Organization to Automate Governance ,’ the workings of DAO are explained in great detail.
Basically DAO is a way of using the blockchain to create a venture capital fund. As the paper puts it, “In exchange for ether, a DAO’s code creates tokens that are assigned to the account of the person who sent the ether.
The token grants its holder voting and ownership rights. The number of tokens created is proportional to the amount of ether transferred. Token price varies over time. Token ownership is freely transferable on the Ethereum blockchain, when the Creation Phase has ended. The DAO enters Japan
As of May 27, 2016, the DAO crowd sale has collected more than US$ 143 million. We recently learnt that DAO tokens will be supported by Coincheck Japan.
In light of this, CoinTelegraph spoke with Kagayaki Kawabata (Kaga), Business Development Lead at Coincheck.jp to find out more about DAO in Japan and what his company proposes to do with it.
Coincheck was the first company to support Ether buying and selling in Japan and it is natural for them to offer DAO related services as well.
Kaga says that there is demand for DAO in Japan: “There were many existing customers that demanded support for The DAO, which prompt us to implement DAO Tokens wallet and buying/selling features.” The Shape of DAO in Japan Japan is the 3rd […]
