When used in the context of cryptocurrency and blockchain technology a DAO is a Decentralized Autonomous Organization. It is a self governing organization whose rules are embedded into the blockchain via smart contracts. There is no centralized server or entity overwatching the organization’s operations, a group of shareholders have a say in the direction which the organization will take.
Make no mistake that DAOs do have a central manager who has a say in the voting rules and decides who the members will be. In a way a DAO is a true democratic organization where every proposal can be verified on the blockchain for the amount of votes it has received.
Read More: http://themerkle.com/what-is-a-dao/
Topic: [2016-04-03] What is a DAO? (Read 287 times)
Jump to: