DAO as the new Blockchain project to run startups

After six months, the work of DAO is now supported by a strong team, sponsors and developers
05 December 2017   507

6 months ago it became known about the DAO concept, which would allow working with blockchain technology without the CEO approval. This idea was tested, but after it was forgotten and abandoned. 

To date, the centralized system is not as effective as before, as it has become almost impossible to make a large team of employees to work for the benefit of others. Moreover, in order to implement meaningful projects, it is necessary to have a lot of money and a developed infrastructure, which is possible only for the government, military and large organizations. It is the DAO that deals with this problem. The DAO platforms will not only reduce financial and time costs, but will also allow the creation of complex projects.

DAO turns all existing business rules into ciphers, while reducing the array of work. Furthermore, it will be possible to improve, modify and add something new in a few minutes.

Reducing costs will entail: the creation of a new system of the whole business, which will exceed the traditional and systemized system. It will also allow to take forward the advanced places to such organizations as Oracle, SAP, Microsoft and will reject intermediaries. Centralized organizations spend weeks, years on creating startups, but DAO platforms will help them to get out just in the lunch hour.

There are 3 projects: Aragon, Colony, and District0x, which are already engaged in the development of such a project. Aragorn, for example, suggests creating branded property with the help of digital coins. District0x actually operates on the basis of Aragon, but it has additional functions for decentralized organizations that enable the management of the market.

District0x and Aragon together create a legal, technical and operational infrastructure. As for Colony, it has a few other functions, it helps in establishing fairness between superiors and ordinary employees.

DAO is a new model for coordinating all employees of organizations, which is built on three platforms Colony, District0x, DAOStack. In the near future, such a system will attract the attention of large organizations and bring production to a new level.

Coinbase to Issue New Statement

As reported, company says it was wrong about SEC approval of acquisitions
18 July 2018   9

Vice President of Communications of Coinbase Rachel Horwitz denied the information that the company received approval from the Securities and Exchange Commission of the United States for a deal to buy brokerage companies. This is reported by Bloomberg.

It is not correct to say that the SEC and FINRA approved Coinbase’s purchase of Keystone because SEC was not involved in the approval process. The SEC’s approval is not required for the change of control application. Coinbase has discussed aspects of its proposed operations, including the acquisition of the Keystone Entity, on an informal basis with several members of SEC staff.

Rachel Horwitz

Vice President of Communications, Coinbase

On Monday, a spokesman for Coinbase said that the company received permission from the SEC and the Agency for Regulation of Financial Institutions (FINRA) to purchase Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC.

However, despite the refutation from Rachel Horwitz, Coinbase still intends to obtain a license to carry out brokerage activities.