Author: Ying-Chao Liao (Master in Management & Technology)
Supervisor: Prof. Dr. Isabell M. Welpe (Chairholder of TUM Strategy & Organization)
Background: Decentralized Autonomous Organization (DAO)
- First purposed in 2014 by the founder of Ethereum, Vatlik Buterin, Decentralized Autonomous Organization (DAO) is an organization where members would collectively decide on how the organization should allocate its funds to make investments.
- Based on comprehensive views from academia & industry, DAOs can be defined as “An organization in which data, transactions can be recorded and automatically executed on a blockchain infrastructure. In these organizations, decisions are made by multiple participants utilizing voting & governance mechanisms.”
- General charateristics of DAOs include: Decentralized & Distributed, Autonomous &Automated, Organized & ordered
- Comparing DAO & legacy organzations：
- Traditional organizations are hierachical while DAOs are flat and democratized
- Changes could be imposed by an individual or a single party in traditional organizations while decisions are made by all members in DAOs (typically through voting)
- Processes involve both automatical and manual operation in traditional organizations while in DAOs, these process are automated by samrt contracts running on the blockchain
- Information in traditional organizations and typically private and limited to the public while in DAOs, they are transparent and publicily available
Research questions, method & outcome:
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Author: Ying-Chao Liao (MSc Management & Technology, TUM)
Supervisor: Prof. Dr. Isabell Welpe (Chair for Strategy and Organization, TUM)