REPUTATION AS CAPITAL – How Decentralized Autonomous Organizations Address Shortcomings in the Ventu
Wulf A. Kaal · 2021
- Venture capital (VC) models can be optimized with emerging decentralized technology. After discussing the shortcomings of the existing VC market and the rise of alternative early round funding mechanisms, the paper highlights the evolution of VC businesses that are operated by a Decentralized Autonomous Organization (DAO). Key Words: Venture Capital, Decentralized Autonomous Organization, Reputation, Decentralized Governance, Capital, Venture Funding, Finance, Token Models, Cryptocurrencies, Feedback Effects, Emerging Technology, Tokens, Blockchain, Distributed Ledger Technology JEL Categories: K20, K23, K32, L43, L5, O31, O3 1 Professor of Law, University of St. Thomas School of Law, Minneapolis. The author is grateful for many discussions with Craig Calcaterra on the uses of reputation systems. They author is grateful for outstanding research assistance from Hayley Howe and research librarian Elizabeth Hadden-Peck. 0 Electronic copy available at: https://ssrn.com/abstract=3962614
Cite: Wulf A. Kaal, REPUTATION AS CAPITAL – How Decentralized Autonomous Organizations Address Shortcomings in the Ventu (2021). SSRN: https://ssrn.com/abstract=3962614. https://doi.org/10.2139/ssrn.3962614
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