Blockchain Based Organisation Too Big To Fail?
After the much reported fundraise of over US$150M worth of Ether a few weeks ago to start TheDAO (the largest crowdfunded venture fund to date, based on Ethereum Blockchain), an entire ecosystem of decentralised autonomous ambitions were challenged last Friday. An attack on TheDAO sent US$60M worth of Ether to the account of an unknown hacker, exploiting a vulnerability in the way smart contracts distribute resources.