Sunday, 22 May 2016

#DAO THE #DOW & #DAX R THE PAST #BESTOFTHEWEB (4)

Distributed Autonomous Organisations; isn't it time, you got up to speed?




Extracted

"DAO interest rising

Many market observers are crediting ether’s recent price increase to the rise of a distributed organization referred to as The DAO, an Ethereum-based entity which allows market participants to provide both startup businesses and projects with funding – in the form of ether – in exchange for voting rights.


“The desire for many to purchase DAO Tokens” has helped create “a huge amount of cross trading in the BTC/ETH trading pair,” Joe Lee, founder of derivatives trading platform Magnr, told CoinDesk.

“The token sale is structured in a way that for a time after the crowdsale has completed, DAO token holders get a freely exercisable option to either burn or swap the newly minted tokens back for ether,” he continued. “This clever structure has incentivised a large number of ETH holders to take part in the crowdsale.”

Chris Burniske, analyst and blockchain products lead at investment management firm ARK Invest, said he believes the The DAO is likely responsible for ether’s recent price rally.

“The ETH/BTC pair has now appreciated 50% since Monday,” he said.

At press time, the organization has collected more than 11m ETH, worth nearly $160m at current prices."



Get Rich with Crypto-Currencies!

More!

The Cryptocurrency Venture Capital DAO raises over $100 million http://www.examiner.com/article/the-cryptocurrency-venture-capital-dao-raises-over-100-million via @examinercom




Sources

Latest Top Stories -->> http://www.occupythebanks.com 

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