Artificial Intelligence versus Human Nature: Protecting Ourselves from the Perils of DAO-based …
If you believe the Fintech Intelligentsia, there is a revolution coming to the financial services industry. This revolution will not be led by PayPal, or Alibaba, or SoFi – or any of the other darlings of the emerging fintech sector. The vanguard of this revolution will instead be a rather benign sounding innovation known as a ‘decentralized autonomous organization’ (DAO). In a nutshell, a DAO is a collection of individuals whose relationships with one another are governed by rules-based computer protocols known as ‘smart contracts’. These smart contracts use modus ponens (if/then) logic to create what are in theory self-executing, self-enforcing state-contingent contracts. Thus, for example, a group of individuals could write a smart contract stipulating that if this blog post is viewed by more than one hundred people, then…
Link to Full Article: Artificial Intelligence versus Human Nature: Protecting Ourselves from the Perils of DAO-based …
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