[2016-05-15] Leaderless, Blockchain-Based Venture Capital Fund Raises $100 Mln

[Karartma1]

A new entity called The DAO, created using the Bitcoin-inspired financial platform Ethereum, has collected more than $100 million worth of cryptocurrency since late April, and will use the funds to support projects in the sharing economy. The DAO is being touted as a model for a new kind of organization, created and run using blockchain software rather than conventional corporate structures.

http://fortune.com/2016/05/15/leaderless-blockchain-vc-fund/

[alani123]

It's funny, fortune tried to cover this but doesn't emphasize that the vast majority money put in this smart contract most likely won't stay there. Up until the point that a proposal has been accepted, investors can convert their DAO tokens to their initial ethereum investment. What that means is that this is a relatively low-risk investment for the short term. There's a floor in place and people are likely putting money on there to ride on the speculation in hopes of short term profit. I doubt that those $100 Mln will stay with the DAO long after launch.

[Karartma1]

That's Fortune, they talk money and people who read Fortune don't seem to me the people that worry about Decentralized Autonomous Organizations.
If that is a good way of taking some short-term profits, that's enough.
So, yes, I agree with you.

[tiggytomb]

Like the way they ended the article, "Shares in The DAO can be purchased using Ether until May 28th, by anyone who can figure out how to do that."

Would have been good if they explained the process quickly and did a bit more research on the thing they are writing about.

[BellaBitBit]

Like the way they ended the article, "Shares in The DAO can be purchased using Ether until May 28th, by anyone who can figure out how to do that."

Would have been good if they explained the process quickly and did a bit more research on the thing they are writing about.

I noticed that at the end.  This definitely signals that this is ground level phase for early adopters/investors.  It is not that hard

This article was low on any real information about the blockchain, author is basically stunned with the 100million raised.