Ethereum co-founder Vitalik Buterin defends DAOs against critics

Buterin believes that collusion and corruption can be reduced when decisions are made in the hands of an entire group rather than an individual or a small minority. Ethereum co-founder Vitalik Buterin has come out swinging in defense of decentralized autonomous organizations, arguing that in some circumstances they can be more efficient and fairer than a traditional corporate structure.

In theory DAOs are collectively owned and managed by their members and have no central leadership. All decisions related to aspects such as the use of treasury funds or protocol improvements are made by voting on proposals submitted to the community.