# kaal:claim:3808852-015

**Claim.** 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.

**Type.** definitional  **Support.** argued

**Holds when.**

- describes the first DAO launched in May 2016

**Source quote.**

> 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.

**From.** Wulf A. Kaal, *Decentralization and Feedback Effects* (2021), III. Organizational Decentralization, page 11

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

**Verify.** sha256 of source PDF `31e91158fdeefebc2f0be54ebf89751f7cdd4c89ecea932888f5ba9be6b1caba` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202021%20-%20Decentralization%20and%20Feedback%20Effects.pdf

**Topics.** dao, smart-contracts, decentralization, institutional-design

**Keywords.** dao, smart-contracts, agency-relationships, organizational-decentralization

**Related claims.**

- restates: https://wulfkaal.github.io/claims/3373393-029
- restates: https://wulfkaal.github.io/claims/3406323-007
- generalizes: https://wulfkaal.github.io/claims/3981021-012
- restates: https://wulfkaal.github.io/claims/3411897-009

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