Not-so-smart blockchain contracts and artificial responsibility

Reference Type:

Journal Article

Formatted Reference:

Published In:

Stanford Technology Law Review




Adam J Kolber

Download Reference:

Search for the Publication In:


The first high-profile decentralized autonomous organization formed in 2016. Called “TheDAO,” it used smart contracts on a bitcoin-style blockchain to allow strangers to come together online to vote on and invest in venture capital proposals. Newspapers raved about the $160 million it quickly raised, even though it purported to have no central human authority, including no managers, executives, or board of directors.