DAOs: a new-fangled term to bamboozle novices into parting with their cash, but what role can they really serve?

Decentralised Autonomous Organisations (DAOs) in the digital assets sector have been around since 2015 when by a team called Slock.it launch the first DAO. Slock.it’s intention was to raise capital for different projects and start-ups. Using a smart contract, Slock.it programmed-in voting rights and ownership so that the initial investors in Slock.it received a token that gave them a share in the dividends, and capital loss and gains in direct proportion to the % of…