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Just two days ago Stephan Tual, the founder of Slock.it, announced that the DAO is live and has already raised over 10% of the expected $100 million worth of cryptocurrency. As of this morning, over 1.2 million ethers have been raised for the DAO which at the current price of $10 per ether comes to over $12 million – and there are still 25 days left to go.
DAO stands for Decentralized Autonomous Organization equivalent. It can be understood as an entity that exists only in the blockchain – the same way a corporation exists only by law ... (read more)