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Ethereum has also sparked a major global fundraising effort by start-ups that used the ERC token standard to raise capital to build their innovations. Ethereum has opened a new way of organizing business, nonprofit, and government. It has made it possible to hold, share, and trade value without ever meeting the other party or using a third party to facilitate. The code does the work.

The most revolutionary and controversial manifestation of Ethereum is the self-governing and decentralized application (dApp). dApps can manage things like digital assets and DAOs.

dApps were created to replace centralized management of assets and organizations. This structure has a lot of appeal because many people believe that absolute power corrupts absolutely. For those who are fearful of losing control, this type of structure has massive implications.

New dApps are popping up every day. You can explore and discover new dApps built on Ethereum by going to https://dappradar.com. DappRadar updates a list of all the latest Ethereum dApps and gives you a preview of what they do. One of the first ever created was Etheria (see Figure 5-1).