In hindsight, the 2017 craze of handing over the digital equivalent of a suitcase of cash to a small group of project coordinators in the hope of making a financial killing was a bit stupid.

The next evolution in this is to hand the suitcase of cash to a smart contract, a DAO, instead. The idea being that the investors maintain some control over the finances of the enterprise in the same way that traditional VC investors control the startups they invest in with seats on the board of the company.

Will it work? Time will tell.

One thing is for sure - there will be bugs, and they will be interesting to study.