Matt Levine, Columnist

Blockchain Company Wants to Reinvent Companies

It's a company without managers, except the ones it hires to get the job done.

May 17, 2016 at 8:01 AM EDT

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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One of the great joys of our modern age, with its rapid advances in financial technology, is examining the latest innovation to try to figure out what centuries-old idea has been dressed up in cryptographical mystification. Sometimes this is pretty easy. Ethereum, the fascinating blockchain/smart-contract platform, has a pyramid scheme helpfully named "Ethereum Pyramid Contract." The innovation is calling the pyramid scheme a pyramid scheme. (Also, blockchain!)

But Ethereum also has the DAO.1463429003743 Can you figure that one out? Here's how the Wall Street Journal describes its innovation:

Before it’s here, it’s on the Bloomberg Terminal

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