Decentralized Autonomous Organization. Sounds like the villain for a sequel of 2001: A Space Odyssey. You might have heard this term floating around in the crypto ether, as the formation of these organizations are creating a ripple effect in the way we perceive ownership of certain assets. A DAO is an organization, company, or entity that uses funds from its investors to democratically decide how and where to coordinate efforts and allocate resources by process of blockchain smart contracts. An unlimited number of people are allowed to invest their cryptocurrency, and in return they are allocated a proportional amount of voting power on decisions of what the DAO aims to do with its funds.
Share this post
What is a DAO?
Share this post
Decentralized Autonomous Organization. Sounds like the villain for a sequel of 2001: A Space Odyssey. You might have heard this term floating around in the crypto ether, as the formation of these organizations are creating a ripple effect in the way we perceive ownership of certain assets. A DAO is an organization, company, or entity that uses funds from its investors to democratically decide how and where to coordinate efforts and allocate resources by process of blockchain smart contracts. An unlimited number of people are allowed to invest their cryptocurrency, and in return they are allocated a proportional amount of voting power on decisions of what the DAO aims to do with its funds.