Blockchain & Digital Assets

May 7, 2022

Power to The People: Learn About DAOs - Decentralized Autonomous Organizations

A New Kind of Blockchain-Driven Entity May Change How Businesses, Governments, and Nonprofits Are Run.

Ever heard of a DAO? DAO: Decentralized autonomous organization. What on earth is that? Well, this is the newest Internet version of an organization made available through blockchain technology. What is a decentralized, autonomous organization? Well, let's compare it to the kind of organization that you know very well - a company. You work for companies, most likely, you work for a big corporation, perhaps. This corporation is centralized. It is located in one specific place, that's where the corporate headquarters are. You've got the chief executive officer and the board of directors. They make the decisions as to everything that happens in that company. They determine the products that they're going to manufacture and sell. They determine who gets hired, how much they're going to pay those people, what the product is going to be priced at, where it's going to be sold and how it's going to be sold. Everything is centralized at the very top of that food chain and everybody else, all the worker bees have to follow those instructions, whether they like it or not. You don't like it, you can quit, but that's about it. Along comes a DAO, a decentralized autonomous organization. This exists on the Internet. There is no central authority. Instead, a group of people get together, they buy a token giving them access to this DAO. The token is basically their access point. Picture it like an airline ticket letting you on the plane. And once everybody is a member of the DAO, everybody gets an equal vote. The DAO will be formed to accomplish a particular goal, and those who share in wanting to get that goal accomplished will all chip in to provide the money that the DAO needs to pull it off.

The Constitution DAO – Worth $40+ Million?

The most famous example of this occurred last year, the Constitution DAO. A whole bunch of investors and consumers got together, contributed $40 Million for the purpose of buying a copy of the U.S. Constitution. They were outbid by a billionaire who paid $43 million. These folks only raised $40 million, and so they were outbid at auction. But the goal they had was to buy this copy of the Constitution. Had they won that auction, they then would have collectively decided where would the Constitution be stored? Where would it be displayed? Who would be responsible for managing it? This is a collective environment. You can call it a commune kind of structure where everybody collectively has one vote in how this is all operating. There's nobody in charge, nobody in command.

Instead, it's decentralized, and it operates autonomously, all on the Internet. Nobody needs to have an office building. Nobody is spending any money to operate the business. It all operates for free and autonomously on the Internet. A decentralized, autonomous organization that could well be the corporate structure of the future. And if you would like to learn more about DAOs, read my new book, The Truth About Crypto. It's available in paperback, e-book and audiobook from Amazon, Barnes & Noble and your favorite bookseller.

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Jillian DelSignore

Global Head of Investor Distribution Strategy | Nasdaq Global Indexes

Jillian DelSignore, CIMA, is Global Head of Investor Distribution Strategy, Indexes at Nasdaq.

Prior to joining Nasdaq, Jillian was Head of ETFs & Indexing at FLX Distribution. FLX is a first of its kind technology platform that brings together asset managers, distribution professionals, wealth managers, and advisors.

Before and during her time at FLX, she was the Principal of Lakefront Advisory advising financial services firms on accelerating their growth through initiating, scaling or changing their distribution strategy. Given her depth of experience in the ETF industry, she also helps her clients demystify the ETF ecosystem by advising on the intricacies of that market.

Before starting Lakefront Advisory, Jillian was Head of ETF Distribution with J.P.Morgan’s Asset Management business. She was responsible for leading the sales and distribution efforts and strategy in the intermediary and institutional markets.

She also serves on the Board of Women in ETFs (WE), Inc, the first women’s group for the ETF industry, and served as Co-President from 2017-2019. Founded in 2014, WE achieves the mission to connect, support and inspire by organizing events globally that support our goals of education, networking, philanthropy.

Before joining J.P.Morgan in September 2015, Jillian was a Strategic Account Manager within BlackRock's iShares ETF Institutional Asset Management Group. She was responsible for developing and maintaining relationships with institutional investors, including boutique asset managers, global institutional asset managers, hedge funds and registered investment advisory firms.

Prior to joining iShares in March, 2009, Ms. DelSignore worked in the Independent Advisory Channel of Goldman Sachs Asset Management covering GSAM mutual funds, separate accounts, retirement plans, and alternative investments. She joined Goldman Sachs in 2005. Earlier, Ms. DelSignore worked in both the Institutional Corporate Cash and Global Bank Divisions at Federated Investors from 2000-2005.

Ms. DelSignore has a B.A. in Communications from John Carroll University and an M.B.A degree in Finance from the Katz Graduate School of Business at the University of Pittsburgh. She earned her CIMA designation from the Wharton School of Business at the University of Pennsylvania and holds the Series 3, 6, 7, 24 and 66 licenses.

Jillian DelSignore

Global Head of Investor Distribution Strategy | Nasdaq Global Indexes

Jillian DelSignore, CIMA, is Global Head of Investor Distribution Strategy, Indexes at Nasdaq.

Prior to joining Nasdaq, Jillian was Head of ETFs & Indexing at FLX Distribution. FLX is a first of its kind technology platform that brings together asset managers, distribution professionals, wealth managers, and advisors.

Before and during her time at FLX, she was the Principal of Lakefront Advisory advising financial services firms on accelerating their growth through initiating, scaling or changing their distribution strategy. Given her depth of experience in the ETF industry, she also helps her clients demystify the ETF ecosystem by advising on the intricacies of that market.

Before starting Lakefront Advisory, Jillian was Head of ETF Distribution with J.P.Morgan’s Asset Management business. She was responsible for leading the sales and distribution efforts and strategy in the intermediary and institutional markets.

She also serves on the Board of Women in ETFs (WE), Inc, the first women’s group for the ETF industry, and served as Co-President from 2017-2019. Founded in 2014, WE achieves the mission to connect, support and inspire by organizing events globally that support our goals of education, networking, philanthropy.

Before joining J.P.Morgan in September 2015, Jillian was a Strategic Account Manager within BlackRock's iShares ETF Institutional Asset Management Group. She was responsible for developing and maintaining relationships with institutional investors, including boutique asset managers, global institutional asset managers, hedge funds and registered investment advisory firms.

Prior to joining iShares in March, 2009, Ms. DelSignore worked in the Independent Advisory Channel of Goldman Sachs Asset Management covering GSAM mutual funds, separate accounts, retirement plans, and alternative investments. She joined Goldman Sachs in 2005. Earlier, Ms. DelSignore worked in both the Institutional Corporate Cash and Global Bank Divisions at Federated Investors from 2000-2005.

Ms. DelSignore has a B.A. in Communications from John Carroll University and an M.B.A degree in Finance from the Katz Graduate School of Business at the University of Pittsburgh. She earned her CIMA designation from the Wharton School of Business at the University of Pennsylvania and holds the Series 3, 6, 7, 24 and 66 licenses.

Tom Balcom CFP®, CAIA, MBA

Founder | 1650 Wealth Management

Tom began his career in the financial services industry in 1998, working at two of the nation’s largest brokerage firms. His passion for educating and protecting his clients’ wealth developed as he witnessed novice investors entrusting their life savings to “financial advisors” whose top priority was meeting their monthly sales quotas.

Tom aspired to differentiate himself from the crowd. He earned an MBA degree with a Specialization in Investments from the University of Miami in 2000 and became a fee-only, independent, registered investment advisor at a private wealth management firm in Miami. Tom earned the Certified Financial Planner (CFP®) designation in 2003 and the Chartered Alternative Investment Analyst (CAIA) designation in 2005.

In 2010, after gaining over a decade of private wealth management experience, Tom took his passion for educating and protecting his clients’ wealth and founded 1650 Wealth Management. 1650 Wealth Management is a fee-only, independent, private wealth management investment advisor. Tom neither sells investment products nor does he receive sales commissions. Tom focuses on actively managing and creating custom investment management strategies with the goal of protecting and growing his clients’ wealth.

Tom has spent a majority of his career studying and investing in alternative investments. He has spoken at numerous industry conferences including: Structured Products Americas Conference, MTN-I Structured Products Conference, Super Bowl of Indexing Conference, Innovative Alternative Strategies Conference, North American Structured Products Conference, Forum on Alternative Investments, Retail Alternative Investments, Private Wealth Southeast Forum, and the Financial Planning Association of Miami.

He is a contributing guest contributor for the Structured Products Daily publication and has been interviewed by top news and financial publications including: Bloomberg Businessweek, New York Times, CNBC, Investment News, Daily Business Review, CNNMoney.com, Registered Rep, SmartMoney, Forbes, Robb Report, Worth, Structured Retail Products, NerdWallet.com, SunSentinel.com, Florida Trend Magazine and the South Florida Business Journal.

He previously was as an adjunct professor within Barry University’s Personal Financial Planning program and in 2014, Tom was asked to serve as an expert witness on behalf of the Certified Financial Planner Board of Standards (CFP Board).

Originally from Nashua, New Hampshire, Tom has made South Florida his home for nearly 30 years. Tom and his family reside in Lighthouse Point, Florida. On the weekends, you may find Tom golfing (or attending his daughter’s junior golf tournaments), traveling, spending time with his family and actively supporting the University of Miami’s football and basketball teams.

Tom Balcom CFP®, CAIA, MBA

Founder | 1650 Wealth Management

Tom began his career in the financial services industry in 1998, working at two of the nation’s largest brokerage firms. His passion for educating and protecting his clients’ wealth developed as he witnessed novice investors entrusting their life savings to “financial advisors” whose top priority was meeting their monthly sales quotas.

Tom aspired to differentiate himself from the crowd. He earned an MBA degree with a Specialization in Investments from the University of Miami in 2000 and became a fee-only, independent, registered investment advisor at a private wealth management firm in Miami. Tom earned the Certified Financial Planner (CFP®) designation in 2003 and the Chartered Alternative Investment Analyst (CAIA) designation in 2005.

In 2010, after gaining over a decade of private wealth management experience, Tom took his passion for educating and protecting his clients’ wealth and founded 1650 Wealth Management. 1650 Wealth Management is a fee-only, independent, private wealth management investment advisor. Tom neither sells investment products nor does he receive sales commissions. Tom focuses on actively managing and creating custom investment management strategies with the goal of protecting and growing his clients’ wealth.

Tom has spent a majority of his career studying and investing in alternative investments. He has spoken at numerous industry conferences including: Structured Products Americas Conference, MTN-I Structured Products Conference, Super Bowl of Indexing Conference, Innovative Alternative Strategies Conference, North American Structured Products Conference, Forum on Alternative Investments, Retail Alternative Investments, Private Wealth Southeast Forum, and the Financial Planning Association of Miami.

He is a contributing guest contributor for the Structured Products Daily publication and has been interviewed by top news and financial publications including: Bloomberg Businessweek, New York Times, CNBC, Investment News, Daily Business Review, CNNMoney.com, Registered Rep, SmartMoney, Forbes, Robb Report, Worth, Structured Retail Products, NerdWallet.com, SunSentinel.com, Florida Trend Magazine and the South Florida Business Journal.

He previously was as an adjunct professor within Barry University’s Personal Financial Planning program and in 2014, Tom was asked to serve as an expert witness on behalf of the Certified Financial Planner Board of Standards (CFP Board).

Originally from Nashua, New Hampshire, Tom has made South Florida his home for nearly 30 years. Tom and his family reside in Lighthouse Point, Florida. On the weekends, you may find Tom golfing (or attending his daughter’s junior golf tournaments), traveling, spending time with his family and actively supporting the University of Miami’s football and basketball teams.

Tom Balcom CFP®, CAIA, MBA

Founder | 1650 Wealth Management

Tom began his career in the financial services industry in 1998, working at two of the nation’s largest brokerage firms. His passion for educating and protecting his clients’ wealth developed as he witnessed novice investors entrusting their life savings to “financial advisors” whose top priority was meeting their monthly sales quotas.

Tom aspired to differentiate himself from the crowd. He earned an MBA degree with a Specialization in Investments from the University of Miami in 2000 and became a fee-only, independent, registered investment advisor at a private wealth management firm in Miami. Tom earned the Certified Financial Planner (CFP®) designation in 2003 and the Chartered Alternative Investment Analyst (CAIA) designation in 2005.

In 2010, after gaining over a decade of private wealth management experience, Tom took his passion for educating and protecting his clients’ wealth and founded 1650 Wealth Management. 1650 Wealth Management is a fee-only, independent, private wealth management investment advisor. Tom neither sells investment products nor does he receive sales commissions. Tom focuses on actively managing and creating custom investment management strategies with the goal of protecting and growing his clients’ wealth.

Tom has spent a majority of his career studying and investing in alternative investments. He has spoken at numerous industry conferences including: Structured Products Americas Conference, MTN-I Structured Products Conference, Super Bowl of Indexing Conference, Innovative Alternative Strategies Conference, North American Structured Products Conference, Forum on Alternative Investments, Retail Alternative Investments, Private Wealth Southeast Forum, and the Financial Planning Association of Miami.

He is a contributing guest contributor for the Structured Products Daily publication and has been interviewed by top news and financial publications including: Bloomberg Businessweek, New York Times, CNBC, Investment News, Daily Business Review, CNNMoney.com, Registered Rep, SmartMoney, Forbes, Robb Report, Worth, Structured Retail Products, NerdWallet.com, SunSentinel.com, Florida Trend Magazine and the South Florida Business Journal.

He previously was as an adjunct professor within Barry University’s Personal Financial Planning program and in 2014, Tom was asked to serve as an expert witness on behalf of the Certified Financial Planner Board of Standards (CFP Board).

Originally from Nashua, New Hampshire, Tom has made South Florida his home for nearly 30 years. Tom and his family reside in Lighthouse Point, Florida. On the weekends, you may find Tom golfing (or attending his daughter’s junior golf tournaments), traveling, spending time with his family and actively supporting the University of Miami’s football and basketball teams.