Question: Transactions between businesses without intermediary will increase efficiency because transaction costs are lost; it's not only efficient for business, it's good for the economy as

Transactions between businesses without intermediary will increase efficiency because transaction costs are lost; it's not only efficient for business, it's good for the economy as a whole. George Gilde in his book "Life After Google: The Fall of Big Data and the Rise of the Blockchain Economy" said that in the future the economy will be blockchain-based.

Besides, blockchain technology with its smart contracts enables a Decentralized Autonomous Corporation (Organization) (DAC or DAO).

1). Do you agree with Gilde's opinion? Describe your reasons.

2). Explain what is meant by a Decentralized Autonomous Corporation and describe how blockchain plays a role in supporting it and making it happen?

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