Quote from: GreenBits on May 20, 2016, 07:18:21 AM

I just don't think the idea of a Corp that functions independent of a trained director or board is a good idea.

To me, the DAO only seems to provide a more elegant form of voting rights in a Corp. A token is a share, with voting rights. What else does this token do besides that? Despite all the innovation that eth may provide once it's potential is fully realized, this token is a tradeable voting share of a company that's on a public, verifiable ledger.

Kinda like a stock.

Which makes this a security.

An illegal security, as it is not regulated by the SEC.

It seems logical that since the voters can't actually perform the expertise of a skilled manager, the DAO is structurally indistinguishable from an electronic voting technology implementing the traditional corporate management structure. Otherwise without corporate management structure, the chaos and failure of a divergent unmanaged, disorganized, inept structure.