This week Slock.it CTO Christoph Jentzsch announced a new project called the Charity DAO. The idea comes after the team’s disastrous DAOHub experiment, which had a fatal bug allowing an attacker to drain $150 million in Ether. Interestingly enough, Jentzsch wants to take a stab at the autonomous organization concept once again.
After Original DAO Failure a New Charity DAO Is Rising
Slock.it CTO Christoph Jentzsch surprised everyone when he announced a new DAO creation, collaborating with the Giveth organization. The Charity DAO will give donors control and transparency towards donations by allowing voting towards certain charities. The new DAO effort will be a nonprofit entity that is very similar to the original DAOHub. However, this time Jentzsch says security will be tighter by utilizing the knowledge gained from the last experiment.