DECENTRALIZED AUTONOMOUS ORGANIZATION TO AUTOMATE GOVERNANCE
Abstract. This paper describes the first implementation of Decentralized Autonomous Organization (DAO) code to automate organizational governance and decision-making. The code can be used by individuals working together collaboratively outside of a traditional corporate form. It can also be used by a registered corporate entity to automate formal governance rules contained in corporate bylaws or imposed by law. First the DAO concept is described, then minority rights is discussed, and a solution to a “robbing the minority” attack vector is proposed. Finally, a practical implementation of a first generation DAO entity is provided using smart contracts written in Solidity on the Ethereum blockchain.
