DAOs could make banks and financial institutions more accountable to their customers and clients. Do you think we'll see a DAO for a bank anytime soon?
are breaking down the barrier between access to capital and traditional services like capital-raising firms. Likewise, banks can use DAOs to raise capital from a wider pool of investors via ICOs.Using decentralized technology in banking can eliminate the need for gatekeepers in the lending industry. DAOs provide more secure ways for people to borrow money, not to mention lower interest rates and better terms.
For example, a DAO could be arranged around specific products or services, with each team responsible for its own area. It may also be constructed geographically, with teams located in different parts of the world. A DAO’s rules and regulations are encoded into smart contracts, enforced by the network of computers that run its blockchain. The DAO’s token, if any, also plays an important role in the organization’s governance.
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