Is the DAO the beginning of the end for the conventional chief executive?

Glavas, Charmaine & Letheren, Kate (2016) Is the DAO the beginning of the end for the conventional chief executive? The Conversation.

View at publisher (open access)

Abstract

Recently dubbed “the biggest crowdfunding project ever”, the decentralised autonomous organisation (DAO) is essentially an investment fund without humans making the investment decisions.Established in April 2016, the DAO draws from the notion of a human-led organisation, but unlike traditional companies, is automated. Formalised governance rules are enforced through software, not a board of directors. No one body owns or controls the DAO, and essentially everyone can take part. More than 10,000 have done so already, raising more than US$150 million for the fund. The DAO is not a physical entity, instead transactions and balances are kept on a public ledger which is sustained by enormous amounts of computing power coupled with the use of algorithms. Instead of a hierarchical management structure managed and regulated by humans, the DAO is typified by the use of blockchain technology which involves people interacting with each other according to a protocol specified in code. Blockchain technology is based on Bitcoin protocol, digital open-source currency which was generated in 2009. With all of this technology working towards an automated entity, the DAO brings into question what the organisation of the future will look like. This question is especially prominent now, with the recent hacking attack on the DAO leading some to wonder how the DAO will respond in restoring its finances and reputation.

Impact and interest:

Citation counts are sourced monthly from Scopus and Web of Science® citation databases.

These databases contain citations from different subsets of available publications and different time periods and thus the citation count from each is usually different. Some works are not in either database and no count is displayed. Scopus includes citations from articles published in 1996 onwards, and Web of Science® generally from 1980 onwards.

Citations counts from the Google Scholar™ indexing service can be viewed at the linked Google Scholar™ search.

ID Code: 96981
Item Type: Journal Article
Refereed: Yes
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Advertising, Marketing & Public Relations
Deposited On: 17 Jul 2016 22:27
Last Modified: 20 Jul 2016 03:30

Export: EndNote | Dublin Core | BibTeX

Repository Staff Only: item control page