Would you invest in a company with no managers and no legal documents?
Believe it or not, that’s a question thousands of “investors” just answered with a resounding “Yes!”
Last week, I told you that the future had already arrived, that hundreds of tiny start-ups are already changing the way we live, work, conduct business through innovations in financial technology, or fintech.
I teased a breaking story about a “company” whose extraordinary name is itself indicative of the future of fintech.
The company, if you can even call it that, goes by the name of The DAO, which stands for Decentralized Autonomous Organization.
Since April 30, 2106, DAO has raised over $152 million via crowdfunding, which is by far the largest amount of “money” ever raised that way.
It closes its “creation phase” on May 28, 2016. So there’s still time for you to get into the “deal.”
But what is DAO? And how do you invest? And should you even consider it?