RETURN TO Learn page

Key players in Crypto set to purchase the U.S constitution

Key players in Crypto set to purchase the U.S constitution

A DAO (Decentralized Autonomous Organization) is a computer-controlled organization that offers a community with automatic governance rules. A DAO is built on computer code, and its working principles are open to the public. It is not governed by any government.

DAO is a smart, complicated contract that is analogous to a decentralized venture capital firm that is implemented on the Ethereum blockchain. In a blockchain, which is a system for securely storing and transferring data that works without a central control authority, these laws are irreversible and clear.

Some of crypto's sharpest minds have chosen to build a decentralized autonomous organization (DAO) to purchase the US Constitution. Last Thursday, what began as a clear fantasy to organize a DAO to purchase on a print of the Constitution has grown into a full-fledged campaign with almost $4 million in contributions. Members from the "ConstitutionDAO" think there is a strong chance of success  to potentially win Sotheby's upcoming auction.

Packy McCormick tweeted:

“We are going to buy the Constitution. ConstitutionDAO is not a moment, it's a movement.”

The following entity was started last Thursday, and already has about 8000 people in the discord, $3M raised for the project in just 12 hours, $10M+ in soft commits. 

We look forward to seeing the results of this auction.

Join the Paris Blockchain Week Summit now to learn more about the industry!

Find more
other contents

Gain access to recurrent updates to help you develop an understanding of the blockchain technology in a practical setting! Should you be interested in NFTs, be sure to check out the Paris NFT Day, and our article on the Metaverse!

4K NFT Marketplace Goes Live
4k is a blockchain-based marketplace focused on luxury goods. The company is looking to solve issues related to the authenticity of physical goods.
Can Smart Contracts exist without Blockchain?
Smart contracts can be used to transfer goods and assets, The blockchain initiates transfers based on criterias established by the Blockchain. A smart contract is a computer software executing contractual agreements between two parties in an irreversible manner. posted $1.5 billion in revenue this year
The Central Bank of Sri Lanka (CBSL) frequently issued warnings to people against virtual financial transactions in recent years.

Miss Out

Paris Blockchain Week 2022 sold out in advance so we encourage you to buy your ticket early (and you’ll save too!).  2023’s event is shaping up to be bigger and better and with the move to the world’s most renowned museum we don’t want you to be disappointed - no one likes to miss out!