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Showing posts from July, 2021

Enter the DAO

Does anyone know what Dru Hill is up to these days? This post isn't about them (though, note the nod to an iconic late 90s album) but I'm really curious.  Enter the DAO. What's that again? Distributed autonomous organization. A DAO is an organization that is governed in whole or in part by a series of smart contracts. As a reminder, smart contracts are self-executing programs encoded on a blockchain. These programs automatically take whatever actions are directed by the code when predetermined conditions are met. A DAO could run completely autonomously. No CEOs or COOs. No board of directors.  Like in any organization, there are lots of decisions that need to be made in a DAO. How are members or participants admitted to the organization? What are the rights, responsibilities and privileges of membership/participation? Under what circumstances can a participant withdraw from the DAO? What kinds of actions can the DAO take and under what circumstances? In a DAO, the rules of

Before You Mint Your NFT

With NFT season taking a bit of a breather (kinda), I thought this would be the perfect time to lay out a few things to consider before minting an NFT.  If you missed the frenzy, well, welcome. "NFT" stands for non-fungible token and these digital tokens represent real world ownership and provenance of a particular asset. NFTs are minted (i.e., produced), stored and transacted (bought/sold/traded) on a distributed ledger like blockchain. Some NFTs represent ownership of tangible assets and some NFTs are digital/virtual assets  (yes, a digital piece of art was purchased for $69M). "Non-fungibility" is a scary word but it essentially means that the asset is unique, cannot be interchanged with another asset, and cannot be replicated. Think of NFTs as either collectibles, like artwork and trading cards, or title to tangible/real property, like real estate and cars.  So with all the excitement having simmered down a bit, below are a few things to think about before you