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2min chapter
What’s the Deal with Decentralized Autonomous Organizations?
Deep Background with Noah Feldman
The Future of Cryptocurrency
A smart contract is an incoded set of rules that are connected inextricably to the reality of this holding. On some layer, smart contracts are operating as code, and so computers can make the money move on their own. So we've got your stylized example of a fund of a million dollars worth of etherium sitting there. And s a rule of decision that's built into the code, which is that if 51 % of, say, the token holders who have a say, choose to distribute the asset in a particular way. Then you'd have a more open ended set of arrangements, at least in principle.
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