A Decentralized Autonomous Organization (DAO) is a type of organization that is run by a set of rules encoded as computer programs called smart contracts. These smart contracts are stored on a blockchain, making the organization decentralized and transparent. They are designed to be autonomous, meaning they operate without any central control or management. A DAO is governed by its members, who can propose changes and vote on decisions related to the organization. The goal of a DAO is to create a truly democratic and decentralized structure that allows for a more equitable distribution of power and resources. DAOs have been used for fundraising, investment, and governance purposes.
