Decentralized autonomous universities: redefining education governance

A DAO (decentralized autonomous organization) is described by The New York Times as: “A DAO (pronounced dow) is a new kind of organizational structure, built with blockchain technology, that is often described as a sort of crypto co-op. (Or, alternatively, as a “financial flash mob” or a “group chat with a bank account.”). Co-operatives (co-ops) are certainly nothing new, with the oldest one being the Fenwick Weavers Society in Scotland which was formed in 1761. Essentially, every member of a co-op has a voice and a role in the daily operations of the organisation, with democracy and the interests of all (not just one) being at the heart of a co-op. Thus, the principles of a DAO are not new but the deployment of blockchain technology to create an on-line modern version of a co-op represents a challenge especially for regulators. In most jurisdictions, financial regulators strive to be able to hold individuals accountable for acts errors and failings but in a DAO, who can be deemed as …