# kaal:claim:3227933-030

**Claim.** The DAO showed that a corporate-type organization can operate with no physical address, no directors, no managers and no employees, with its governance structure built entirely from software, code and smart contracts running on Ethereum.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- the DAO, 2016

**Source quote.**

> Indeed, the DAO didn't have any directors, managers or employees. The governance structure was built with software, code and smart contracts that ran on the public decentralized blockchain platform, Ethereum.

**From.** Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, *Why 'Blockchain' Will Disrupt Corporate Organizations* (2018), 7. Decentralized Autonomous Organizations, page 15

**Cite as.** Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Why 'Blockchain' Will Disrupt Corporate Organizations (2018). SSRN: https://ssrn.com/abstract=3227933

**Verify.** sha256 of source PDF `a9e9660c4dc25a2202f1da4e762f5885256e05f68c53ca51942f5833a7a4c108` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Fenwick%20et%20al.%20-%202018%20-%20Why%20%27Blockchain%27%20Will%20Disrupt%20Corporate%20Organizations.pdf

**Topics.** dao, smart-contracts

**Keywords.** dao, ethereum, corporate-form, smart-contracts

**Related claims.**

- extended_by: https://wulfkaal.github.io/claims/3227967-023
- extended_by: https://wulfkaal.github.io/claims/3373393-029
- extended_by: https://wulfkaal.github.io/claims/3406323-007
- restates: https://wulfkaal.github.io/claims/2939127-031

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.