Terms You Need to Know [November 2021]

DAO (Decentralized Autonomous Organization): A new way to organize people with a common interest. An oft-repeated quip defines a DAO as ‘a group chat with a shared bank account.’ Using blockchain, DAOs can form around any shared mission: investing or art collecting, for example. In theory, members vote on DAO decisions; this is great for equality, though it is sometimes inefficient. Mostly limited to finance, some predict DAOs will spread eventually to all areas of business. Highly transparent, DAOs’ handling of crises should be fascinating.

WhatAboutism: A new entry into Merriam-Webster’s, crisis pros might call whataboutism deflection. It’s “the act or practice of responding to an accusation of wrongdoing by claiming that an offense committed by another is similar or worse.

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