kaal:claim:3808852-015

Decentralized autonomous organizations epitomize organizational decentralization because the first DAO, built purely on code and smart contracts with no incorporation, physical address, or headquarters, entirely removed all traditional control mechanisms employed by principals in agency relationships.

Launched in May 2016, the first DAO was set up as an organization based purely on code and smart contracts. It did not have a conventional corporate structure, no incorporation, and had no physical address or headquarter.

Wulf A. Kaal, Decentralization and Feedback Effects (2021), III. Organizational Decentralization, p. 11
https://ssrn.com/abstract=3808852 · source PDF

Wulf A. Kaal, Decentralization and Feedback Effects (2021). SSRN: https://ssrn.com/abstract=3808852

• describes the first DAO launched in May 2016

definitionalsupport: argueddaosmart-contractsdecentralizationinstitutional-design

• restates kaal:claim:3373393-029 The first DAO had no physical address, no jurisdiction able to claim control over it, no directors, managers, ...
• restates kaal:claim:3406323-007 Decentralized Autonomous Organizations challenge the core belief that governance necessitates agency, because ...
• generalizes kaal:claim:3981021-012 DAOs are truly global borderless entities that coordinate agency relationships and limit liabilities via smart...
• restates kaal:claim:3411897-009 The first DAO removed, in essence, all of the core control mechanisms that principals typically employ in agen...

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