DAO & Ethereum
Using Blockchain outside finance was an idea of the Ethereum project. It eliminates the role of banks as middlemen between individuals and businesses transacting across borders, Ethereum blockchain application development with smart contracts has eliminated intermediaries across virtually every industry. As an example, In cloud storage Smart contracts in Ethereum has enabled decentralized network participants to be rewarded in tokens for sharing their unused disc space.
Smart contracts can be set up even for ordinary businesses like sending and paying invoices, but no matter how well the new model works, there is room for improvement. Blockchain experts are discovering ways to adapt to a new trend by building Private Entities, Called DAOs. These complex smart contract structures may have the most important impact on the business of any blockchain breakthrough so far.