In a decentralized autonomous organization a series of smart contracts grants token holders voting rights, so the blockchain-based smart contract performs the function that articles of incorporation or bylaws perform in a conventional company.
Source quote, verbatim
A series of smart contracts granted token holders voting rights. In this respect, the blockchain-based smart contract mimics the role of articles of incorporation or bylaws.
From
Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, The ‘Unmediated’ and ‘Tech-Driven’ Corporate Governance of Today's Winning Companies (2017), VI. Decentralized Corporate Governance, p. 46 https://ssrn.com/abstract=2922176 · source PDF
Cite as
Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, The ‘Unmediated’ and ‘Tech-Driven’ Corporate Governance of Today's Winning Companies (2017). SSRN: https://ssrn.com/abstract=2922176
Holds when
the original DAO structure, running on the Ethereum public blockchain
restated_bykaal:claim:3227933-032 In a DAO, blockchain-based smart contracts granting token holders voting rights perform the function that arti...
extended_bykaal:claim:2939127-031 Because a series of smart contracts granted DAO token holders voting rights, the blockchain based smart contra...
extended_bykaal:claim:3799320-020 Because a series of smart contracts grants DAO token holders voting rights, those smart contracts take the pla...
restated_bykaal:claim:3227967-023 A decentralized autonomous organization is merely computer code with no directors, managers or employees, its ...
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